Cooper George, Spokane, Washington

Intelligent repositioning meets investor expectations
This 1953, 13-story urban apartment property had been on the market more than five years for $5 million. NOI justified $1.2 million. TMC repositioned Cooper George as an assisted living conversion, bringing in a JV partner who paid the asking price. In spearheading the re-launch, TMC protected the client’s image and created goodwill by facilitating relocation for nearly 100 residents.

Housing Authority of Portland, Portland, Oregon
Innovative strategy, dramatic turnaround

In 1996, federal subsidies declined for HAP’s low-income housing, putting disadvantaged populations at risk. TMC’s strategy mixed low-income with market rate product, resulting in an NOI of over $27 million—far exceeding the $19 million annual subsidy. The program was used as a template for other housing authorities nationwide.

Uptown Heights Apartments, Portland, OR
Creative solutions overcome formidable obstacles
This high-end project, built during a flooded market, faced anti-development sentiment, negative press and foreclosure. TMC repositioned the project as a corporate hotel alternative. A grass roots outreach partnership with the local chamber, called “Uptown Nights,” attracted new residents and promoted local establishments. In 6 months TMC achieved 80% occupancy, and exceeded the proforma.

Hidden Lakes Golf Resort, Sandpoint, Idaho

Polishing a diamond in the rough

After sales had stalled, TMC repositioning included marketing plans for the profit centers of real estate sales, food and beverage, lodging, and golf that increased sales to service debt and attract a managing JV partner. TMC enhanced the budget by writing a tourism grant for Sandpoint Chamber, drawing interest to the area and the resort. The property sold and is being redeveloped into the only Jack Nicklaus Signature Golf course in Idaho.

Riverstone, Coeur d’Alene, Idaho

Bringing a vision to reality

This 160 acre site, one of the West’s largest environmental clean-ups, is now a planned mixed-use community. The final phase is a lifestyle center including retail, hospitality and multi-family. TMC introduced the lifestyle center concept to the area and worked with regional media to gained 3rd party endorsements. We also developed an on-site sales center and our campaign gained a pre-sale reservation base of 60% in six months.

Harbor Properties. Schweitzer Mountain Resort, Sandpoint, Idaho

Revitalized with research, planning and targeted communication

TMC was hired by Harbor Properties in Seattle to re-launch a stalled ski-village and condo-hotel. Our regional market survey and feasibility study justified the price, won strong support from the local real estate community and attracted national buyers. An aggressive public relations campaign attracted substantial national media coverage. The project sold out. Prior to this sale, condominium property had not sold in the market for over $225 per square foot. We realized over $450 per sq foot sale average.