Habersham Marketplace

LiveWorkLearnPlay’s vision and strategic plan for the rebranded Marketplace received widespread support from the development’s 20 property owners who decided to enlist their buildings into the Targeted Leasing & Casting (TLCTM) program. LiveWorkLearnPlay’s TLCTM process recruited 12 new commercial businesses to the Habersham Marketplace. Simultaneously, a Community Drivers & Animation (CDA TM) program was implemented, launching a regional Farmers Market, the Harvest Festival and numerous rituals, events and activities to stimulate visitation and spending.

THE PLACE

Habersham is a coastal town just minutes from Beaufort, South Carolina. The town plan continues the southern traditions of neighboring Charleston, South Carolina and Savannah, Georgia and won the Best in American LivingTM “Best Neighborhood Design in America” award by the National Home Builders Association. Habersham’s traditional architectural charm, picturesque environment and residential success stood in stark contrast, however, to its struggling “Town Center”. Among the 20 property owners, nearly 80% of the total commercial space was vacant.

OUR FOCUS

LiveWorkLearnPlay was engaged to workout Habersham’s Town Center, which consisted of the first phase of mixed-use live/work buildings, totaling 25,000 square feet of street-level commercial space. LiveWorkLearnPlay developed a strategic plan that encompassed a detailed physical, programming, financial, legal, governance, marketing and leasing strategy for the rebranded “Marketplace”, which would subsequently be implemented through the TLCTM process. Following the initial success of the TLCTM program, LiveWorkLearnPlay was mandated to lead the conceptual master planning process for the future development and expansion of the Marketplace onto an adjacent land parcel.

MIXED-USE PLANNING: WHAT WE HAVE ACHIEVED

EXISTING ASSETS

  • Performed a market-based strategic analysis outlining key opportunities for physical changes, governance, branding and marketing and commercial programming
  • Recommended physical improvements to the town center including an events plaza, public seating, events stage and numerous restaurant patios and terraces. These changes were subsequently implemented by the Habersham development team
  • Detailed a viable target commercial tenant mix program that was subsequently successfully implemented through the TLCTM process
  • Developed commercial proformas that balanced the interests and requirements of the property owners investment with the viability of commercial tenants
  • Developed a strategic outline for the creation, setup and funding of a Merchant’s Council to independently organize and manage community events and festivities without developer support
  • Achieved overall consensus and support of asset owners, developer, residents and commercial operators for a unified plan and leasing strategy for the Marketplace

FUTURE DEVELOPMENT

  • Led the envisioning and creation of a Conceptual Commercial Mixed-Use Master Plan for the future Marketplace extension
  • Concluded a Commercial Economic Study (CES) to establish the amount of incremental square footage of commercial space that could be supported by new development in the expanded Marketplace
  • Conducted a viability analysis to support a recommended program of food & beverage concepts

TARGETED LEASING & CASTING (TLC™): WHAT WE HAVE ACHIEVED

  • LiveWorkLearnPlay’s TLCTM team implemented and managed a turnaround process to revitalize the first phase of the Habersham “Town Center” properties into a thriving destination marketplace. This first phase of TLC™:
    • Dedicated 20,000 square feet (80% of the total ground floor commercial space) for re-leasing efforts to top-tier commercial businesses
    • Consisted of commercial spaces owned by 20 individual property investors
  • Successfully implemented a Habersham Marketplace re-branding and communications program through various media platforms and a fully integrated on-line marketing campaign to promote the overall marketplace, individual merchants, residential sales and leasing and events
  • Managed a TLC™ program that resulted in the attraction and opening of 12 new retail and restaurant concepts. These businesses are all high-caliber independent concepts that were recruited from the local and regional “Low Country” market. Some of the new Marketplace businesses include:
    • Bistro Patois, the third concept of the “Plum’s Group” from Beaufort, SC (www.bistropatois.com)
    • EarthFIT, a concept designed to use the outdoor amenities of Habersham for its fitness programs. Since opening its first location, EarthFIT has expanded and has occupied a second space for studio classes
    • The Storybook Shoppe, owned and operated by a Habersham resident and specializing in children’s books. The concept also hosts regular and free story time reading events (www.thestorybookshoppe.com)
    • Maggie’s Pub & Eatery, a cozy and warm American pub by an award-winning “Low Country” restauranteur (www.maggiespub.net)
  • Implemented and managed a Community Drivers & Animation (CDA™) program that successfully launched several large-scale regional events, a regional farmers market and numerous daily rituals to drive the re-activation of the “Marketplace”

 

PROJECT CONTEXT

Workout & Turnaround New Development

SIZE

427 acres

RESIDENTIAL

Up to 1,470 units

RETAIL/FOOD & BEVERAGE

Existing: 25,000 s.f.
Planned: 150,000 s.f.

PROJECT PHOTOS

LiveWorkLearnPlay is an international real-estate advisory and development firm on the cutting edge of planning, developing, and implementing dynamic mixed-use real estate projects. We create places that thrive and endure.

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