Feature article originally published in The Appraisal Journal Summer 2013 issue.
This article looks at how to determine the feasibility of a proposed multifamily development.
In determining the feasibility of building new multifamily units in a specific market, it is often necessary to go further than looking at the characteristics of the existing supply of apartments in that market and at basic demographic projections. Drilling down into the data often will reveal tenant preferences, functional obsolescence in design, and affordability factors that can be important in designing the new apartments to optimize rents and to appeal to the largest portion of the demand component. This article provides several actual case study examples of this concept.
Jeff Siebold, MAI
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