CenturyPacific, LP is currently involved in a number of major land value enhancement and marketing projects with clients and joint venture partners.
Land value enhancement is the multi-disciplined task of bringing undeveloped or underdeveloped real estate to a developable state. It requires the choreography of land planning, zoning, market and economic analysis, infrastructure development, community relations and many other simultaneous activities. While complex, it is a phase in which great values may be achieved for the expenditure of comparatively little capital.
CenturyPacific principals have successfully managed the land development phase of such diverse real estate as suburban business parks, master planned communities, industrial parks and high-density urban parcels.
Land Value Enhancement & Marketing services include:
Market Analysis - highest and best use
Representative Projects:
Barbee Mill: CenturyPacific acted as fee developer for the Cugini family in the evaluation, development and sale of the 24-acre former Barbee Mill property located along the eastern shores of Lake Washington. Several plans were proposed including a mixed-use development with over 600 condos, 200,000 square feet of commercial and 1,900 parking stalls. Ultimately, due to traffic considerations, a low-density 114-lot paired home plan was submitted and successfully entitled by CenturyPacific. The former lumber mill required significant environmental clean-up, negotiation with Burlington Northern for access across the railroad tracks and discussions with the Washington State Department of Natural Resources to remove fill material along the shoreline. CenturyPacific sold the property to Conner Homes Company in 2006 for $34 million.
The Uplands at Snoqualmie: CenturyPacific was the developer of a large lot development on a 975-acre site near North Bend, Washington. North Bend is located 29 miles east of Seattle on the I-90 corridor. CenturyPacific, together with Weyerhaeuser Company, has created an upscale large lot community. The process involved a full development team of planners, environmental specialists, engineers and other supporting experts. The project sold out in four years.
Columbia Place: Columbia Place is a 250-acre mixed-use development located in the Tri-Cities of central Washington encompassing Kennewick, Richland and Pasco. As development manager, CenturyPacific is responsible for all aspects of the project, from government approvals and site planning to marketing, sales, construction and real estate management. Special care was taken to design a multi-faceted plan for Columbia Place which encouraged quality development of the area which is consistent with both the environment and community needs. Tenants in the project include retailers such as Costco, Shopko and Price Chopper. It also is home to three hotels, a variety of office buildings and a 100 acre residential subdivision.
Tollgate Farm: The Miller Land and Timber Company retained CenturyPacific to manage the land enhancement process for this 228 acre parcel located in North Bend, Washington. This process included an opportunities/constraints analysis, development of a master-plan, an entitlements strategy, preliminary plat applications and completion of an EIS. This parcel has been owned by the Miller Family since the early part of the century. CenturyPacific sold a significant portion of the project to the Trust for Public Lands for $10,000,000 and is now completing the development of a 155 unit townhome site.
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