As unique food and beverage programs continue to drive successful real estate developments, cultivate fills a void in the marketplace by bridging the hospitality and real estate industries.
LOS ANGELES – Real estate development and hospitality veteran Peter Peterson announces the launch of Cultivate Hospitality Group, a Los Angeles-based full-service food and beverage ideation, consulting and management company created to pair real estate developers and property owners with innovative restaurant and entertainment concepts. Providing a one-stop shop for unique food and beverage and real estate development opportunities, Cultivate offers a full menu of capabilities that can be tailored through a la carte options including custom concept creation and master planning, development oversight, public relations/marketing strategies, asset management, market analysis and more. With food and beverage taking center stage as a key driver in the world of real estate, the Cultivate team's deep relationships and more than 60-years combined experience in both signature culinary ideation and real estate development brings a unique, never-before-seen expertise to the marketplace.
"Curated culinary programming has proven to be the secret sauce in driving successful development," said Peter Peterson, President and Managing Partner of Cultivate and former Vice President of Related Urban Development leading food and beverage programming for prime mixed-use projects such as New York City's 17 million-square-foot Hudson Yards and 2.8 million-square-foot Time Warner Center, as well as the Restaurant Collection at The Cosmopolitan Las Vegas. "We have specialized expertise in fostering connections between hospitality and real estate and curating concepts that maximize value, whether it's a hotel that could be revitalized with a timeless restaurant, or an office space that needs a creative food and beverage concept to appeal to trend-seeking entrepreneurs."
Upon launch, Cultivate has been engaged to support the following high-profile projects across the United States:
- Flower Mart, San Francisco: Kilroy Realty Corp has enlisted Cultivate to assist in the master planning and redevelopment of San Francisco's 2.3 million-square-foot Flower Mart project, the city's largest mixed-use project since the development of Embarcadero Center. Phase one to be unveiled in 2021 with project completion scheduled for 2023.
- Marriott Mission Bay, San Francisco: Cultivate is providing concepting and operator search services for the 250-room Marriott Mission Bay, set to become the city's first four-star new-build hotel in over a decade. The project is scheduled to open in Spring 2021.
- Grand Avenue Project, Los Angeles: Cultivate will conceptualize the food and beverage master plan for the Frank Gehry-designed Grand Ave project in downtown Los Angeles, developed by Related. Once complete in Q4 2021, the over one-million-square-foot development will include more than 100,000 square feet of retail, a movie theater, a 314-room Equinox Hotel, 428 residences and a food and beverage offering consisting of approximately a dozen restaurant spaces.
"Developers are attracted to the value-add Cultivate offers by specializing in both the culinary and development sides of the business which is a unique combination not replicated elsewhere," said Sam Bakhshandehpour, Board Member and Principal of Cultivate. "The team has created the ultimate destination delivering the utmost quality in concept curation for food and beverage clients."
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