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GoBOLD Adventures, a story in the Adventure Entertainment Newsroom

New Adventure Recreation Company Launches

Sustainable Environment Associates (SEAS) and Adventure Entertainment Cos. have launched GoBOLD Adventures™, an adventure recreation design-builder, and operator.   As the new adventure recreation company launches, GoBOLD is focused on new locations in several formats, from all-new destination facilities to augmentation of quality existing venues.

 

The convergence of these companies provides the comprehensive expertise in developing and operating adventure destinations. GoBOLD Adventures is comprised of international experts in multiple disciplines specializing in creating unique “bucket list” destinations.   GoBOLD’s projects range from scenic natural destinations in the U.S., to national and regional parks, remote island resorts, and jungle or desert glamping.

 

The two companies each brings an extensive capability in outdoor recreation and facility operations.   SEAS is associated with Pangaeon, through the leadership of international adventure recreation specialist, Paul Bierman-Lytle.   The Adventure Entertainment Cos. LLC are an owned affiliate of StoneCreek Partners LLC.  GoBOLD Adventures (GoBOLD Adventures.com) brings the development and facility management experiences of the two companies  within one operating organization.

 

The GoBOLD Adventures website includes information about the company’s locations and career opportunities.   As the new adventure recreation company launches, the company’s senior management intends a focus on expansion of the senior management and local rep teams for select global regions.

 

 

The 15-Minute City concept gains tracking.

The 15-Minute City Concept Gains Traction

The-15-Minute City concept is gaining traction around the world as a placemaking tactic and means to enhance quality of life.   Although “city” is used in this coined term, this planning concept is more about a focus on livable neighborhoods and districts.

 

The “15-minute city” is a term for urban design and master planning wherein it is possible to meet the basic “needs of living” within a 15-minute walk or bike ride from a person’s home.  The needs of living include such services and amenities as:

 

  • Places of work, or, at least a coworking venue;
  • Grocers;
  • Pharmacies;
  • Schools for children, youth;
  • Health care or medical facilities, or simply, doctor and dentist offices;
  • Recreation, leisure and/or green spaces; at least a pocket or linear park;
  • Cultural venues;
  • Mass transit accessibility;
  • Affordable housing is assumed;
  • Flexible zoning to allow places with different day-part uses, such as local school facility that can be a community gathering place at night or on weekends; and
  • Places of worship are seldom mentioned as part of the 15-Minute City concept, but such places may be among the most successful community-building forces that have existed.

 

 

The planning term was first coined by by Prof. Carlos Moreno, a professor at Sorbonne University (Paris, France).  Prof. Moreno is the director of entrepreneurship and innovation at The Sorbonne.  Though popularized by the professor, the 15-Minute City concept itself  has been explored in major cities throughout the world from Melbourne to Portland, prior to its burgeoning popularity as an planning concept.

 

During 2020, the 15-Minute City concept has surged in interest as a sturdy planning concept alongside the increasing acceptance of coworking facilities and communities.   Coworking venues situated in close proximity to homes simply adds an additional destination within a 15-minute “neighborhood” that is vital within a 15-minute radii.

 

The 15-Minute City concept is a multi-faceted placemaking tactic.

Another aspect of making the 15-Minute City concept workable is the presence of affordable housing within each 15-Minute City cluster.  Many neighborhoods and districts around the world may work well for most required services and work places, but do not have the array of housing choices necessary.

 

Integrating the 15-Minute City concept with allied planning concepts is particularly interesting to local governments charged with numerous quality of life objectives and economic development initiatives.   A 15-Minute City imperative, as an example, is also deemed helpful in reducing the use of fossil fuels (vehicles), fighting carbon emissions, and thereby fighting climate change.  Also, applying the 15-Minute City thresholds of accessibility also advances the objectives for some groups in reversing local zoning codes to allow increased affordable housing options and thereby, more diversity, inclusion, and social justice.

 

The 15-Minute City concept has created such interest that purpose-built apps have been created to evaluate any particular location for 15-Minute City thresholds. Here Technologies (Eindhoven, Netherlands) is one such company that has created this kind of threshold’s map to answer the question – Do You Live in a 15-Minute City? We expect that the 15-Minute City parameters and software applications that track such notions, will join similar concepts as a niche investment asset class among those pursuing environmental, social, and governmental investments (so-called ESG Investing).

REI's New Product Impact Standards

REI’s New Product Impact Standards

REI’s new Product Impact Standards for 2021, now include diversity, equity, and inclusion requirements for companies wanting REI shelf space.   The standards include the retailer’s core requirements as well as optional preferred attributes.   REI is an American retail and outdoor recreation services corporation, organized as a consumers’ co-operative.  The retailer sells sporting goods, camping gear, travel equipment, and clothing, as well as outdoor-oriented experiences, recreation activities, and courses.

 

Back in 2018, REI had originally devised its product standards to focus on ethical production practices and sustainability.  As part of this update, REI has also added two new programs to its list of preferred attributes—a collection of voluntary business certifications that vendor brands are encouraged to pursue, such as for certifications for aspects of climate and environmental stewardship, chemicals management, and animal welfare.

 

REI’s product impact standards are part of the emerging interest among global investors to evaluate environmental, social and governance issues (so called ESG Investing) when investing and operating.   REI’s dedication to sustainable and ethical production, diversity, equity, and inclusion are precisely what ESG Investing seeks to encourage.

 

According to an article by SNEWS, the outdoor recreation retailer consulted with brands of various sizes and product categories, as well as with more than a dozen DEI nonprofits, advocates, and ambassadors.   The advice from such third-parties included feasibility considerations.  SNEW is an outdoor industry publication of Pocket Outdoor Media Inc.

 

The full December 9, 2020 article by SNEWS is available at this link, along with with reference to the full document describing these REI standards:  REI holds vendors accountable for climate and DEI practices with new product standards

Planned Community Consultants

Golf Courses Remain a Focus for Redevelopment

Golf courses remain a focus for redevelopment and repurposing as property owners explore greater highest-and-best use for their golf assets.

 

The interest in such redevelopment is straight-forward.  Golf courses were overbuilt in the U.S. and in some global regions, and the 2008 recession decimated many golf owner’s financial resources.   At the same time golf participation has steadily declined year over year, at least through 2019 (there is an exception in 2020 due to Covid-19).  With this confluence of economic difficulties and ever-changing consumer preferences for their leisure-time activities, in many instances golf course assets offered a tantalizing opportunity for adaptive re-use and repurposing.  For many cities and communities with increasing interest in local economic development and specific agendas such as affordable (if not more inclusionary) housing, these golf assets are particularly ripe for highest-and-best-use consideration.

 

The mega project proposed by Hines for Riverwalk Golf Course in San Diego, will likely spur even greater interest in golf course redevelopment.   Golf courses are often situated within attractive residential communities, with reasonable roadway access and ingress/egress for feasible re-purposing as residential projects.   Hines found such an opportunity with the Riverwalk site in a decidedly “best case” way – the Riverwalk golf course just happens to be so well-located within its region that it can support substantial mixed-use redevelopment.  Hines has proposed such a mega redevelopment project there, which could see in excess of $1 billion in new development.

 

For more information about golf course redevelopment, we have started tracking such projects as part of our ongoing client project research.   We expect golf courses to remain a focus for redevelopment, for some time to come.   StoneCreek Partners also tracks other major real estate asset classes, with some of our research and tracking published here online.   The link is available  here:

 

Golf Course Redevelopment – the Latest

 

The World's Largest Mega Projects

The World’s Largest Mega Projects – the Latest

The world’s largest mega projects are tracked in our Global Top 100 index, including primarily private-sector and public-private real estate projects.  The largest of these mega projects are typically mixed-use (or multi-use as the Urban Land Institute may suggest), involve regeneration (redevelopment) of existing properties, and cost in excess of USD $1 billion.

 

There is great variety in these megaprojects.  In general, no two are alike since each is customized to its location, setting, and economic circumstances.   Some such as  the redevelopment of Philadelphia Energy Solutions’ refinery in Philadelphia include a large land area (here, 1,300 acres) and a vision of a huge build-out (15 million square feet).  Other mega-projects are developed at much higher densities on smaller project sites.  Sunnyside Yard Queen in New York is a proposed $14.5 billion development on 180 acres, that would include 12,000 house units.

 

During 2020, the Covid-19 pandemic has not obviated interest in these projects proceeding, and in fact, new projects have been announced.

 

The Global Top 100 Mega Projects also include what are essentially, all-new cities.   Eko Atlantic in Lagos (Nigeria) is situated on 2,471 acres of coastal landfill and is well into development.   Egypt’s new capital city is under construction east of Cairo, and is a massive investment intended to fully replace Cairo in its central governance role.

 

The public sector is frequently a partner in these projects since the regional economic development impact can be enormous, net of public investment in infrastructure and other incentives.

 

During 2020, the Covid-19 pandemic has certainly impacted the planning and construction of new mega projects, but in general, has not obviated investor and governmental interest in these projects proceeding.  In fact, new projects have been announced in the midst of the pandemic.

 

 

The World's Largest Mega Projects

 

 

Defining a Mega-Project

Most definitions offered for mega projects define such projects as having a capital budget in excess of USD $1 billion. According to the Oxford Handbook of Megaproject Management, “Megaprojects are large-scale, complex ventures that typically cost $1 billion or more, take many years to develop and build, involve multiple public and private stakeholders, are transformational, and impact millions of people.”

 

For more Information

Our ongoing mega project research is available here > Global Top 100 Mega Projects – the Latest List

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