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HomeMy WebLinkAboutsubmission WinstonGoodkin ©©@c=40R A Strategic Alliance with PricewaterhouseCoopers LLP Finding the Best Solutions In recent years, our nation has undergone tremendous demographic, social and economic changes that have had a profound impact on the real estate industry. Corporate real estate investors and developers face truly major challenges as they seek new and innovative solutions that satisfy the needs of today's rapidly changing marketplace. At Goodkin Research Corp./Goodkin Consulting, we use our wealth of knowledge, and an array of sophisticated market research techniques to find the best solutions for our clients, while never forgetting that people are our real business. Our professional team can draw on many years of experience in analyzing each situation and formulating a well -developed set of conclu- sions and recommendations. Our strategic alliance with PricewaterhouseCoopers LLP provides us with additional national and international resources. Our track record and the diversity and loyalty of our clientele are based on our market research results, and our ability to clearly communicate to our clients how our findings can be applied with maximum effectiveness, impact and profitability. I've often noted that when an amateur fails, it's because he missed the subtleties of the market; when an expert fails it's because he missed the obvious. We miss neither, because we know that missing the market by a little bit can be tantamount to missing it altogether. Happily, our unique approach to market research often leads to exciting, highly success- ful innovations. We never try to second guess the market, or to "play it safe'." Often, in fact, our market research determines that the safest thing is innovation, and the "safe thing" is the riskiest thing of all -because so many others are already doing it or planning to do it. I believe people excel at what they truly love to do — and I love my work. I enjoy the challenge of helping answer the questions which surround every projected real estate development, in ways that are creative and practical. The thrill of watching a carefully researched and designed real estate development take shape is something few other experiences can match. As that development turns out to be a success, it's the fulfillment of many dreams and goals. But perhaps the best thing about having taken part in a successful real estate project is knowing we've helped create living, working, leisure and shopping environments in ways that people truly respond to and feel comfortable with. In the field of real estate market research, a concern for people comes first. For me, this philosophy is not merely smart strategy, but, in a larger sense, the only way to do busi- ness. —Lewis M. Goodkin, President SUBMITTED INTO THE PUBLIC RECORD FOR ITEM pz. ON i-aa-off Market Research: The Key to a Successful Real Estate Venture For nearly 40 years, Goodkin Consulting has served the real estate and financial industries, providing critical analytical and creative inputs to decision -making processes from con- cept to all phases of implementation and marketing. The Goodkin professional staff has applied their combined skills to the widest possible range of real estate -related challenges from coast to coast and abroad as well. These include financial analysis (land, new communities, and PUDs), urban redevelopment, residential products, commercial and industrial building, retail centers, rehabs and conver- sions, market analysis and detailed marketing strategy planning, best use, definitive product design, sizing, pricing, amenity recommendations, and absorption projections. Goodkin Consulting is the market research firm that provides the vital pulse of countless successful real estate ventures. It's the firm that combines market research expertise with the real market savvy needed to apply the research results effectively. Market research done by Goodkin Consulting provides a solid foundation on which to build. At Goodkin Consulting, we believe that marketing is not an afterthought, an adjunct, or an appendage to the undertaking of a real estate venture: it is the very heart and soul of every truly successful project. All too often, market research means little more than a routine rehashing of previous studies. Even when these analyses are sound, the huge majority of market research firms just don't have the pragmatic sense of what the real priorities, problems and potentials are. Not so with Goodkin Consulting. Projects that are successful every step of the way, in every way, are the real result of a Goodkin Consulting study. We provide our clients with market intelligence that measures demand, evaluates competition, defines the consumer market segments, and translates this information into a recommended plan of action which ensures the highest probability of success, and provides our client with a genuine edge in the marketplace. Maximizing Opportunities Every Step of the Way Goodkin Consulting's uniquely thorough approach has given us the most impressive track record in the real estate consulting field. That's the reason we retain long-time clients and grow with their referrals. Our name has been closely identified with the real estate and financial industries for four decades. We have conducted studies in all 50 states, Canada, Mexico, South America, the Caribbean and Europe; our studies have ranged in magnitude from small luxury townhouse developments to total planned community analysis for a preeminent list major communities in the U.S., to mixed -use developments, to an acquisition analysis of the Irving Ranch in California. Our clients range from Florida's most successful developers to the largest multi -use development company in North America. Market research done by Goodkin Consulting begins with our unparalleled expertise. We aren't simply acquainted with the real estate industry; we understand it. Our ap- proach combines logic with insight gleaned over years of experience. This gives us the ability to quickly document potential opportunities within a market and evaluate how those opportunities might be properly utilized; to translate consumer trends and market research data into product planning which is unequalled in thoroughness and excellence. A Goodkin Consulting report is uniquely useful because our basic orientation is practi- cal. We understand your desire for comprehensive, yet comprehensible data. You want to know what you're getting into -and you want to get everything out of it you can. We support and share that desire wholeheartedly; because you can never know too much about the marketplace, and about your particular market. We do more for you than just keep you out of trouble. Our market research guides you to decisions that will produce projects that are superior in every way; that will not only out- perform, but dominate your chosen market. There's no reason why every investment or development cannot be a success -if it is based on the best market intelligence possible. Goodkin Consulting combines reliable research techniques with proven sensitivity to produce reports that are concise, perceptive, and so definitive they leave little room for guesswork. We carefully explore the market and develop concepts of land and product development that maximize capture rates. A Goodkin Consulting report is never wishy- washy or vague, because we know that missing a market by a little bit can be tantamount to missing it altogether. Risk Management Our analysis defines the overall market potential for an investment or a development program so that risk can be accurately measured. Our solid financial information, coun- sel, and services are designed to spare you the headaches of a sour deal, and to convert potential problem properties from red to black ink by re -planning the product itself or the factors that threaten its success. The Ultimate Value Our ability to analyze and meet the market has helped our clients develop their plans with one unified objective -saving time and eliminating massive problems of communication among the various facets needed in this enormously complex enterprise. We've revealed new opportunities to clients with a long history of past success. We've helped clarify directions, position the development of our client's plans, helped them determine market- ing strategy and product design. But the real test of Goodkin Consulting is the success of our product. And consistently positive results are the real key to our pride. our professionalism and excellence are reflected in the enormous successes our clients have experienced in every type of real estate venture. We can do the same for your project. We can work with your firm on any basis which is appropriate, and design a program which meets your specific needs. Not Just Research But Implementation The best marketing report in the world is useless if the results can't be implemented. It has to be appropriate to your particular needs: research findings must be related to actual actions and programs. At Goodkin Consulting, the primary emphasis is on workability. Our Recommendations are specific, directly applicable, and have a clearly observable impact. just as important, our involvement with you and your project doesn't end with the delivery of a report; it's a continuing relationship, unfolding as your program and plans take shape. It's then -when we roll up our sleeves and help you implement your program - that you get the full benefit of our experience and knowledge of the real estate market- place. Goodkin Consulting Provides The Key to Future Success Experience has shown the best time to call Goodkin Consulting is very early, before the project has begun: even prior to the land acquisition stage. With marketing professionals unexcelled in the real estate industry, Goodkin Consulting can provide counsel, quantita- tive and qualitative input throughout all stages of the project. Goodkin Consulting can also come in "later in the game'." Developers and lenders of unsuccessful and unprofitable ventures have called in our creative problem solving team to turn the project around. Still other investors with difficult sites or buildings -and cities with deteriorating areas -have utilized Goodkin Consulting's capacity to direct rehabilita- tion and/or suggest alternate uses; resulting in financial and socio-economic rewards. Should you choose not to develop your own property, or assistance is needed in financing or joint venturing, Goodkin Consulting has often helped put together partners, builders, bankers, investors, contractors, etc., depending upon the particular situation. On a limited basis, Goodkin Consulting provides private counseling to individual real estate investors and entrepreneurs. Goodkin Consulting's Professional Team Goodkin Consulting consists of an experienced team of real estate professionals with many decades of experience in all types of real estate markets. The senior principals of the firm have worked with merchant builders, banks, savings and loans, developers, insurance com- panies, governments, professional organizations, and Wall Street firms including invest- ment banking operations. In addition, the principals of Goodkin Consulting have testified as expert witnesses in major cases involving feasibility studies, marketability studies, property values and eminent domain. The firm's extensive network of contracts in the real estate and financial communities has enabled clients to develop mutually beneficial business and fi- nancial relationships. Lewis M. Goodkin, CRE, MIRM President and Chief Executive Officer Lewis M. Goodkin is widely recognized as one of the leading consultants in the real es- tate industry. During his three decades in the industry, Mr. Goodkin has directed more research on large-scale planned communities, golf resort communities, condominium com- munities and residential resorts than any other market analyst in the United States. Prior to founding his firm, Mr. Goodkin was President of the California based Sanford R. Goodkin Research Corporation (Peat Marwick/ Goodkin Real Estate Consulting Group). During his 15-year tenure with SRGRC, Mr. Goodkin was responsible for the overall direction of the research and planning activities for the firm's 34 professionals. He also conducted major assignments overseas for U.S. mer- chant builders. Prior to establishing a strategic alliance with PriceWaterhouseCoopers LLP, Goodkin was a consultant nationally to Arthur Andersen & Co. Mr. Goodkin's highly acclaimed book, When Real Estate and Home Building Becomes Big Business, was selected by the Library Journal as one of the year's best business books the year it was written, and was the subject of a special addendum in the New York Times financial section. In addition, he has written more than 1,500 articles for the trade, business associations, newspapers and magazines. He was Publisher and Editor of the Goodkin Real Estate Report/Florida, a bi-monthly subscription newsletter which was discontinued in 1993. Currently, Mr. Goodkin writes a regular real estate column for Florida Trend magazine. Mr. Goodkin is a member of the National Association of Real Estate Editors and The Ameri- can Travel Writers Association. He is regularly quoted in many major business publications and has been a guest on both "Good Morning America" and "The Today Show." A graduate of Temple University, Mr. Goodkin has lectured frequently on urban land eco- nomics, real estate investment, development and marketing. He serves on the Real Estate Advisory Board of the University of Florida and the Advisory Board of the School of De- sign at the University of Florida. Mr. Goodkin is Chairman of the South Florida -Caribbean District Council of the Urban Land Institute and Past Chairman of the South Florida -Caribbean Chapter of the American Society of Real Estate Counselors (CRE). He is a designated member of the Institute of Residential Marketing and Lambda Alpha International (an honorary land economics soci- ety). He also serves on the Advisory Board of the National Real Estate Index, the nation's foremost commercial real estate data bank, and is a member of South Florida Economic Society and the American Association of Business Economists. Mr. Goodkin serves as co- chairman of the University of Florida's annual Economic and Development Symposium. Jack Winston, A.I.C.P., AIA Senior Consultant Jack Winston has more than 30 years of experience in the real estate development field, and his involvement in a wide range of complex projects throughout the country has made him one of the most knowledgeable people in the field. Mr. Winston holds a Bachelor of Architecture from Pratt Institute in New York, and a Masters in Business Administration and a Masters in Urban & Regional Planning from the University of Miami. He has practiced architecture, as well as having his own residential building company in New York. He has held senior management positions with the largest homebuilders in the world ... Levitt and Sons, Larwin, as well as there i estate develop- ment firms of Triangle Pacific (NYSE) and GAC. He also owned one of the largest homebuilding companies in the Miami area. Mr. Winston is a member of the National Association of Home Builders, and the Builders' Association of South Florida.. He is also a member of the Urban Land Institute, the Ameri- can Institute of Architects, the Governor's Task Force on Urban Growth, the American Planning Association, and the Institute of Residential Marketing. Mr. Winston was a grant recipient of the Lincoln Institute of Land Policy for his work on "The Urban Village," and received a research grant from the United Cerebral Palsy Foundation for his book Con- cepts of Residential Care: An Architectural Guide. Mr. Winston is an adjunct professor of real estate development and planning at the School of Architecture and the Law School of the University of Miami, and the Graduate School of Construction Management at FIU. He has been a visiting professor at FAU's Joint Center for Urban Studies. Mr. Winston has received licenses from the State of Florida as a State General Contractor and Real Estate Broker, and is a certified land planner. Christopher G. Hamlin, MIRM Senior Consultant Christopher G. Hamlin has more than 30 yearsof experience in virtually all aspects of residential and commercial development. A charter member of the Institute of Residential Marketing, Mr. Hamlin is extremely familiar with all aspects of new community planning, and has a long track record of developing successful new product types, community devel- opment concepts, and marketing programs. As Senior Consultant for Goodkin Research/Goodkin Consulting, Mr. Hamlin has assisted property owners, lenders and developers in a wide range of real estate projects throughout the United States and the Caribbean. Mr. Hamlin's experience includes single-family resi- dential, multi -family (ownership and rental), elderly housing, government -assisted hous- ing, commercial/office projects, retail developments, hospitality and resort projects. He has worked closely with land planners, architects and civil engineers, and has been heavily involved in all aspects of permitting at county, state and federal levels. Mr. Hamlin earned his Bachelor of Arts degree from the University of Miami. His post- graduate studies include a certificate in mathematics, quantitative and qualitative analysis from the University of California Northridge. He became associated with The Goodkin Group in 1965, as Senior Vice President. He was also Executive Vice President and COO of Sanford R. Goodkin Research Corporation (SRGRC). Hamlin supervised the firm's re- search staff and directly provided services to some of the nation's leading developers and planners of master -planned communities and new towns. He was co-author of the original definitive work on open -space communities in the marketplace for Urban Land Institute. A former past Chairman of the Builders Association of South Florida legislative Commit- tee, Mr. Hamlin was vice president of marketing and planning for Hollywood, Inc., Florida's largest privately owned builder/developer. He was also national manager of acquisitions for General Electric's residential and commercial developer Trafalgar, and was co-owner of a mid -scale building company active in five subdivisions. Alcoa Properties American Association of Homes for the Aged (AAHA) American Equity Group Anden Group Apollo Real Estate Investment Trust Arthur Andersen & Co., SC Arthur Rutenberg Corporation ATE/Ryder Transportation Services Avatar Holdings, Inc. BankAtlantic Bank of America Bank of Boston Barton Group Bechtel Corporation Bellemead Development Corporation Bell South Services Bergeron Land Development, Inc. Blackacre Capital Blackstone Real Estate Investment Trust Boca Polo Associates Boca Resorts (Panther Holdings) Bonita Bay Properties, Inc. Boothe Financial Corporation Bramalea (Canada) Brooks Harvey & Company Broward County Attorneys Office Caesar's World Calton Homes (NJ) Carlton Group Carnival Cruise Lines Centex Corporation Cenvil REIT Century Village/Cenvil Channing Development Corporation Chase Manhattan Bank Chemical Bank Chevron Land & Development Christiana Communities Chubb Insurance Citicorp City of Boca Raton City of Del Ray Beach City of Hollywood City of Jupiter City of Miami Beach Cleveland Clinic Cobb Group Codina Group Coldwell-Banker Real Estate Services Consolidated-Tomoka Land Co. Constructa Development, Inc. Continental Companies Coral Ridge Properties Coscan Courtelis Company, Inc. A Partial Client List Deltona Corporation Del Webb Corporation Disney Development Company Dorado Beach Hotel Corporation Downtown Development Authority -Fort Lauderdale Downtown Development Authority -Miami Duda Lands, Inc. Ecclestone-National Investm0ent0 Company E.K.S., Inc. Equitable Life Equitable Real Estate Management, Inc. Leonard L. Farber, Inc. F.D.I.C. Federal Home Loan Bank Board Federal National Mortgage Association (FNMA) First City Development Group First Nationwide Capital Fisher Island Associates Flagler Systems, Inc. (The Breakers Hotel) Florida East Coast Properties Florida Municipal League Florida Turnpike Authority Florida Trend Magazine Forest City Enterprises Fortress Group Foundation Land FPA Corporation Frankel Group (Philadelphia) Franklin Trust Fuqua Industries Gene B. Glick Company General Electric Credit Corporation Genstar (Canada) Great White Enterprises Golf Digest Grand Bay Resort Greystone Realty Corporation Grupo Situr Gulf Atlantic Communities Gulfstream Race Association Gunster, Yoakley & Stewart, P.A. Heller Financial Hilton Head Company/Marathon Oil Huizenga Holdings Hollywood, Inc. Homer Hoyt Institute K. Hovnanian Companies Hutchison-Wampoa Limited Imperial Group Indian River Plantation Company Inter -American Builder Associates Interbank/Brenner Hospitality Irvine Company ITT Palm Coast Jacobs, Visconti & Jacobs Company JMB/Arvida Kawasaki Steel America, Inc. Kenco Communities Kenneth Leventhal & Company Irvin Knowles Construction Company, Nassau, The Bahamas LaSalle Partners Lazard Freres Lely Estates, Inc. Lennar Corporation Levitt Homes Lincoln Properties Los Angeles Dodgers Lykes Development Corporation MacArthur Dairy Manufacturers Hanover Bank Martin Margulies Markborough Properties (Canada) Marriott Corporation Martin Downs Mason Group, Inc. Matthews Group (Canada) Mayer Group Mayors Jewelry MCA -Universal City, Florida Mellon Bank Melvin Simon & Associates Minnesota Twins Minto Builders (Florida) Inc. (Canada) Mission Viejo Company Mitchell Energy & Development Corporation Mitsui Mobil Land Development (Florida) Morgan Stanley Co./Morstan Development Co. M.A. Mortenson Company Morton Group Mutual Federal Savings & Loan National Development Corporation NationsBank Newhall Land and Farming Company New York State Attorney General's Office New York Life Northwest Mutual Life Ocean Club Associates Operating Engineers Pension Fund Ovemite Transportation Company Palm Beach County Planning Department Palmetto Dunes (Hilton Head) Palm -Fields -Three Seasons, Ltd. Jack Parker Pelican Bay PGA National PGA of America Planned Development Corporation Planning Research Corporation Pritzker & Pritzker Property Group Associates Prudential Insurance Company of America Pulte Homes Corporation Radnor (Sun Oil) Raymond D. Nasher Company Resolution Trust Corporation F.D. Rich Company Robert Trent Jones Rockwell Financial Corporation Rollins Jamaica Ltd. Rose Associates Ryder Systems Ryland Group Sea Ranch Properties Security Pacific National Bank Senior Corporation Shearson -Lehman Realty Group Shell Oil Company Simon — Simon - DeBartolo George Soros Realty Southeast Enterprises, Inc. Standard Oil Company of California Starwood Capital State of Florida Stephen Muss & Associates Steptoe & Johnson St. Joe/Arvida Sullivan & Cromwell Sun -Sentinel Sun Trust Swerdlow Company Taylor Woodrow Temple Development Corporation Tennis Magazine, Inc. Terremark Tishman Speyer Properties Tobishima Associates, Ltd. Toyomenka Trammel Crow Residential Trizec-Goldlist Tumberry Associates Universal Development University of Florida Urban Land Institute U.S. Home USX Realty Vantage Properties Vermont Federal Bank Victor Posner Westinghouse/Coral Ridge Properties Westvaco Williams Island/Trump Group