Affordable Housing Development
Danter and Associates offers several studies designed to
identify an area's potential for affordable housing. In
addition to site-specific market studies for Low
Income Housing Tax Credit (LIHTC) and government
subsidized multifamily development, we also offer overview
analysis to identify potential for additional affordable housing
development.
A typical affordable housing overview would contain the
following components:
Findings
Specifically, our studies will provide the following:
- Unit mix, number and size recommendations to meet area
affordable housing demand. Recommendations can include
a full range of housing options beyond for-rent multifamily,
including affordable for-sale multifamily and affordable
for-sale or for-rent single-family development if requested
- Suggested unit and project amenities packages competitive
with area developments for all unit types under study
- Determination of appropriate rents/sales prices for the
proposed units based on affordable housing program
guidelines
- An evaluation of the site area's ability to function with
residential use based on its access, visibility and
environment.
- Competitive Analysis. When appropriate, potentially
competitive projects are identified and analyzed in detail,
including a detailed look at floor plans, entry impact,
storage space, unit and project amenities, and pricing.
Supply/Demand Analyses
Our conclusions and recommendations are based on an analysis of
the relationship between existing and projected supply and
demand based on our 100% field survey of
the Effective Market Area (EMA) and an analysis of area
demographics.
Supply Analysis
Supply is determined through:
- A 100% field survey of all unit types under study within
the Effective Market Area. Usually this will consist
of modern apartments, but may include for-sale multifamily
or single-family, or for-rent single-family at the client's
request.
- Data from the US Census Bureau and US Department of
Commerce
The supply of existing housing is analyzed to identify rent
or sale price, vacancy trends by unit type, amenities, number of
bedrooms, year built, and ccomparability rating.
Demand Analysis
- An analysis of the number of income-qualified households
in the EMA (based on available affordable housing program
income restrictions) will be conducted. This analysis will
establish the number of households based on a variety of
rent-to-income relationships and compare this to the number
of existing units.
- An overview of the area Section 8 program and an
evaluation of potential support from program participants.
- An analysis of demand for new for-sale housing by price
range and type (multifamily/condominium or detached
single-family) based on existing and projected demographic
profiles and established capture factors.
- A projection of expected market-driven rent for various
unit types at opening based on a Comparable Rent Analysis.
The Comparable Rent Analysis allows for determination of
market-driven rent for projects of any amenity level by
using a regression analysis to analyze project rent in
conjunction with its Comparability Rating. Some states ask
that we omit this analysis for site-specific analysis.
For more information, please call us at (614) 221-9096 during
business hours (8 am to 5 pm) Eastern US time, or e-mail us at
thall@danter.com.
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