Creative intelligence, commercial rigor

Field States brings two things to every engagement: the creative insight to see what an asset or district could become, and the analytical rigor to back it up. We work with forward-facing leaders across the private and public sector: asset owners, cities, institutions, and investors. Every project is scoped around a single answerable question, and we deliver tested scenarios, defensible business cases, and implementation-ready strategies. 

What We Offer

Discovery

FOCUSED SPRINTS

Most engagements begin with one of our four Focused Sprints: defined for specific customer needs, clearly-scoped, with actionable outcomes. These reveal potential.

Strategy

EXTENDED DESIGN & ANALYSIS

When the opportunity is clear, we build the plan to capture it: portfolio adaptation roadmaps, building conversion strategies, capital structuring, governance, and partnership design. 

Delivery

DEVELOPMENT MANAGEMENT

Field States serves as the dedicated owner’s representative from entitlement and financing through construction and activation. We are the single point of accountability as a project comes to life.

Focused Sprints

FOR  BUILDING AND ASSET OWNERS

Asset Portfolio Adaptation Review

Across a portfolio, which assets are at highest risk of underperformance or stranding, and where should the focus be?

Risk is distributed across any portfolio, but its concentration and sequencing logic are rarely visible. The Asset Portfolio Adaptation Review produces a portfolio baseline, a stranding and adaptation risk screen scored and explained for each asset, and a sequencing plan that identifies which assets warrant an Asset Transition Brief, and in what order.

Deliverables

  • Portfolio baseline (performance + exposure snapshot) across all assets

  • Asset stranding & adaptation risk screen (scored + explained): risk rating per asset plus dominant drivers and key unknowns

  • Triage map: ranked shortlist with recommended posture per asset (advance / stabilise / hold / exit)

  • Transition pipeline into Asset Transition Briefs: sequencing + bundling plan + decision gates

  • Portfolio-level opportunity patterns (clusters and implications, not asset-level designs)

  • Presentation-ready summary deck (12–18 slides)

Duration: two to five weeks

FOR  BUILDING AND ASSET OWNERS

Asset Transition Brief

What is the best path forward on a specific property?

An asset in transition needs a clear picture of what it could become, what stands in the way, and whether the path forward is financially and operationally viable. Investment depends on a consolidated and defensible plan of action incorporating various sources of information. The Asset Transition Brief maps current constraints and opportunities to arrive at that clarity. We develop two to three adaptive reuse scenarios with indicative economics, define the governance and partnership pathway, and deliver a clear recommendation with a go/no-go decision logic.

Deliverables

  • 2–3 adaptive reuse scenarios with indicative program mixes and economic ranges

  • Governance and partnership pathway

  • Recommended next steps with go/no-go decision framework

  • Executive leadership summary deck (12–18 slides)

Duration: two to four weeks

FOR CITIES AND PUBLIC AGENCIES

Property Revenue Risk Review

What is causing fiscal stress and what spatial interventions can reverse it?

A tax base may erode gradually, and then visibly, but the connection between spatial conditions and fiscal stress is rarely quantified. The Property Revenue Risk Review connects property value trends, vacancy patterns, and service costs to specific spatial conditions. We identify two to three interventions with the strongest impact potential, and produce a council-ready presentation with funding logic and implementation pathway.

Deliverables

  • Property Revenue Risk Review connecting property value trends, vacancy patterns, and service costs to spatial conditions

  • Leverage point identification: 2–3 specific spatial or programmatic interventions with the highest fiscal impact potential

  • Intervention briefs for each leverage point: scope, estimated cost, funding logic, implementation pathway, expected fiscal return

  • Stakeholder alignment map: which agencies, partners, and decision-makers need to be engaged for each intervention

  • Council-ready presentation deck (15–20 slides)

Duration: four to six weeks

FOR ANCHOR INSTITUTIONS AND DISTRICT OPERATORS

District Strategy Sprint

How are the conditions around an anchor impacting its potential? And what actions can be taken to transform it?

A tax base may erode gradually, and then visibly, but the connection between spatial conditions and fiscal stress is rarely quantified. The Property Revenue Risk Review connects property value trends, vacancy patterns, and service costs to specific spatial conditions. We identify two to three interventions with the strongest impact potential, and produce a council-ready presentation with funding logic and implementation pathway.

Deliverables

  • District conditions assessment: physical, economic, social, and institutional factors affecting the district

  • Mission-to-place strategy: connecting the anchor's institutional mission to district-level spatial and programmatic opportunities

  • Partner and stakeholder map: who controls what, who benefits, who needs to be at the table

  • 2–3 early intervention recommendations with scope, cost, timeline, and expected impact

  • Governance recommendations: what kind of coordination vehicle (BID expansion, district trust, informal coalition) fits the situation

  • Presentation deck for anchor leadership and/or BID board (15–20 slides)

Duration: four to six weeks

FOR CAPITAL PROVIDERS

Adaptive Investment Memo

Is this distressed asset an adaptive reuse opportunity or a value trap?

Some assets resist conventional underwriting. The conditions are complex, the variables uncertain, and standard models cannot adequately assess what the asset could become. The Adaptive Investment Memo delivers a clear-eyed assessment of realistic adaptive potential, what stands in the way, and whether the opportunity is worth pursuing.

Deliverables

  • Asset narrative: market context, physical conditions, regulatory environment, competitive position

  • Constraints map: what limits conversion potential (structural, regulatory, financial, market)

  • Option paths: 2–3 adaptive reuse scenarios with indicative economics and risk profiles

  • Risk assessment: what could go wrong, what triggers abandonment vs. escalation

  • Recommendation: proceed / conditional proceed / pass, with rationale

  • Investment committee-ready memo (investor format)

Duration: four to six weeks

Reach Out

No two projects are alike, and we’d love to hear about yours. Good ideas begin with good conversations. Schedule a call to meet our team.

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