The real estate consultancy is analyzing convention, stadium, mixed-use and outdoor sports opportunities
CHICAGO, IL / ACCESSWIRE / January 30, 2024 / Hunden Partners (Hunden), a full-service real estate development advisory practice, was chosen by the city of Waco, Texas to provide placemaking advisory services for a number of transformative proposed development projects in Waco. Hunden will begin with a market demand, financial feasibility, and economic impact analysis of a proposed mixed-use entertainment district in Waco's downtown area anchored by a new convention center and stadium. The analysis follows the completion of a larger downtown conceptual master plan completed in 2023 by Gensler, a global architecture firm. The city of Waco's goal is to revitalize its downtown and provide density, livability, and walkability between entertainment and business venues. Hunden is known for its destination real estate and mixed-use district expertise and has completed hundreds of similar market analyses.
"The City of Waco is primed for a placemaking renaissance," says Hunden's President & CEO Rob Hunden. "The master plan will usher in a new era for the city, elevating the quality of life for residents, boosting local businesses, and attracting tourism from around the nation. We are thrilled to be conducting the analysis for this ambitious project and look forward to seeing the plans come to life."
The market analysis and feasibility study considers a potential rebuild of the Waco Convention Center (WCC) to anchor the mixed-use district. Waco is a central meeting location between major metropolitan areas in Texas, including Dallas/Fort Worth, Austin/San Antonio, and Houston, and the city has the opportunity to benefit from the growing meeting and convention demand in the area.
Another key component of the plan is an examination of sports and entertainment opportunities, including consideration of a new Minor League Baseball stadium as well as complimentary outdoor event spaces. The environment around a sports venue determines its likelihood of attracting a new team and bringing in a steady base of attendees. As such, Hunden will evaluate the feasibility of new and existing hotel spaces, retailers, restaurants, residential units, office space, parking garage structures, and outdoor spaces such as a boat house and river access.
"Waco's vision for a vibrant, active, and livable downtown recognizes the crucial importance of how each of its public-facing venues are arranged, configured, and activated to maximize the impact of these investments. We're committed to tailored solutions that best capture the needs of Waco's residents and visitors, while also maximizing the outgrowth of opportunity in the downtown area," says Tom Balk, Waco's Director of Strategic Operations. "We've seen the positive results of Hunden's work in Texas and throughout the county, and we're pleased to be partnering with them to enhance the experience of living in, working in, and visiting the city of Waco."
About Hunden Partners
Hunden Partners is the leading advisor in destination real estate development. The firm offers a full range of project advisory and execution services including market and financial feasibility, economic and impact analyses, tourism planning and strategy, and development implementation for specialty destination assets such as sports facilities, mixed-use and entertainment districts, convention and expo centers, hotels, entertainment venues, recreation facilities and other economic development projects.
Hunden assists clients to move projects from concept to funding to execution. The company's clients include cities, states, universities, DMOs, authorities and private developers. Hunden has conducted more than 1,000 studies and has had a hand in the development of over $20 billion in projects around the world.
For more information, please visit: https://hunden.com
ABOUT CITY OF WACO
Known for being a great place to live and work, the City of Waco provides many economic opportunities and cultural experiences. A city centrally located in the heart of Texas on the I-35 corridor midway between Dallas-Fort Worth and Austin, Waco is a progressive and diverse city with a vibrant community spirit offering major attractions, museums, recreation, and shopping. The 25th largest city in Texas and the county seat of McLennan County, Waco is also the birthplace of Dr Pepper, the Texas Ranger Hall of Fame and Museum, and the Texas Sports Hall of Fame. A highlight of the community is the iconic Waco Suspension Bridge, spanning the beautiful Brazos River. The bridge is near the entrance to Cameron Park, over 480 acres of a unique municipal park located in the heart of the city. The City of Waco also boasts the award-winning Cameron Park Zoo and Waco Mammoth National Monument and hosts numerous annual events. Waco is home to two of Waco's most highly visited sites in the Magnolia Market at the Silos and Magnolia Table.
Contact Information
Laura Sportiello
Vice President, Business Development
laura@hunden.com
312-643-2500
SOURCE: Hunden Partners
View the original press release on newswire.com.