Feasibility Studies

Members of the staff have prepared feasibility studies on proposed properties such as retail centers, office buildings, multi-family buildings and various mixed-use developments. Additionally, we have conducted feasibility studies for proposed special use projects such as lifestyle centers, movie theaters, process facilities, and sports complexes.

Noted feasibility studies are as follows:

  • LIHTC Apartments – We have performed numerous feasibility studies for LIHTC and other subsidized apartment complexes. As part of a market studies, we considered the underlying demographics in order to identify the population and population growth in the low income and over 55 cohort, and determined income levels and homeownership levels in order to project the future population of potential renters for the subject property. Once the potential market was identified, rents surveys and studies of competing facilities were performed, and a projection was made for the subject property as to the rent levels sustainable in the market and for the potential demand for the units.
  • Sports Complex – For a proposed sports complex consisting of baseball and soccer fields as well as a housing component, we prepared a detailed study of the market for youth sports. Within the feasibility study, we generated detailed income and expense projections for the operation of the camps, and examined costs to develop the project. We also investigated required market rates of return for this property type.
  • Movie Theaters – Proposed movie theaters are highly dependent upon changes in technology for their success. As part of our feasibility study, we researched ticket sales and demographic information for competing theaters and, using a retail gravity model, developed income projections for the proposed subject theater. We also researched operating expense ratios applicable in the industry, and investigated required rates of return for this property type.

Disposition Strategies

As part of a disposition of major real estate assets, members of the staff assisted Fortune 500 companies in developing disposition strategies for large, special use properties. This included counseling on environmental remediation, zoning and use changes, renovations and alterations as well as assistance of choosing brokerage representation.