Multi-Family HousingCase Studies
THE SECTOR – MULTI-FAMILY HOUSING
Regional Lending Institution in the Midwest
Urban Site in Cleveland, Ohio
Development of a new mid-rise multi-family market rent housing complex. The developer was in need of a commercial appraisal and market area analysis to secure mortgage financing to complete the development.
FRG completed the following services for the client:
- In-depth Market Area Analysis
- Supply and Demand Analysis
- Market Rent Analysis
- Highest and Best Use
- Cost Approach Valuation
- Sales Comparison Approach Valuation
- Income Approach Valuation
FRG’s in-depth market area analysis and demand analysis determined the need for additional multi-family housing in the delineated market area. In addition, FRG completed a market rent analysis to determine the optimal unit mix (eg rents, amenities, etc.). As well the team provided a detailed assessment of the time required to stabilize or completely rent the developed property.