2005-01-12 Handouts - Laserfiche WebLink

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RESIDENTIAL MARKET ANALYSIS Franklin-Portland Gateway - Minneapolis, Minnesota Central Community Housing Trust Market analysis was conducted for the residential and retail components of a five-building mixed-use development on Franklin Avenue. Residential market research identified the demand and market prices for apartments, condominiums, and townhomes in three buildings. Retail space of 20,600 to 24,000 square feet is included in four of the proposed buildings. Work tasks included identifying supportable gross leasable area, potential tenants, and market rents. Hyatt Whitney Hotel Standard Mill Limited Partnership Conducted financial feasibility of converting the Hyatt Whitney Hotel on the Mississippi Riverfront to condominiums. The Whitney Hotel was an adaptive reuse of the original Standard Mill in 1986. The hotel was providing unsatisfactory financial returns and conversion to condominiums was a feasible solution. Tasks included estimated unit sales prices, total sales revenue, development expenses and net profit for four alternative design concepts. Development expenses included estimating construction costs, soft costs, sales expense and construction financing cost. Multi-Family Development - Inver Grove Heights, MN Skyline Enterprises, Inc. Market analysis was conducted for market-rate apartments and for-sale townhomes as part of a neo-traditional, mixed-use development. The development included 280 apartments, 100-unit independent senior co-op, 86 townhomes, 113 detached townhomes, and 64,000 square feet of commercial space. Research tasks included competitive evaluation, market area demographics, absorption, and recommendations for unit mix, pricing, features and amenities. Lafayette Park Townhomes City of South St. Paul Market analysis and financial feasibility was conducted for a proposed 248-townhome development. The market-rate townhomes were to be built in two phases of 125 and 123 units. Units ranged in size from 754 to 1,334 square feet. The analysis included competitive evaluation, market area demographics trends, unit absorption, pricing, amenities, and features. Multi-Family Development - Brooklyn Center, MN Skyline Enterprises, Inc. Market analysis was conducted for 120 townhomes as part of a residential development containing an independent living co-op with 58 units on a Mississippi riverfront site. Townhomes ranged in size from 2,550 to 3,345 square feet. Research tasks included competitive evaluation, market area demographics, absorption, and recommendations on unit mix, pricing, features and amenities.