Market & Feasibility
An objective assessment of competitive market conditions is essential to sound development planning. This work is usually focused on a particular property or proposed use, but we are occasionally asked to simply examine supply-demand conditions. While each engagement is specifically tailored to client needs, market and feasibility studies generally involve the following steps:
An assessment of the local economic climate.
A comprehensive supply analysis, consisting of a detailed survey of competitive developments, and identification of developments proposed and under construction.
A profile of key demand generators.
Conclusions and recommendations about the viability of a proposed development.
Market & Feasibility Case Study
Client: FIDES Development
Location: Newnan, Georgia
In 2022, Haddow & Company was retained by a development team lead by FIDES Development to evaluate approximately 5.6 acres in downtown Newnan. The City of Newnan acquired the site, known as the former site of Caldwell Tanks, in 2021. The site was improved with several buildings that were demolished due to environmental issues. After remediating the site, the City issued a Request for Proposals (RFP) and selected a team led by FIDES Development to redevelop the property, pending approval of a mutually acceptable development plan. Our role was to help determine the property’s highest and best use, considering both market demand and the City’s goals. Our scope included: 1) analyzing the apartment, condominium, office, retail, hotel, and senior housing sectors; 2) profiling selected developments in other suburban downtowns in metro Atlanta, and 3) interviewing leading real estate brokers, developers, and local stakeholders.
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