MULTIFAMILY HOUSING MARKET ANALYSIS
Downtown Hartford, CT
THE CHALLENGE
GOMAN+YORK was tasked by the Capital Region Development Authority (“CRDA”) to conduct a feasibility study of the market fundamentals of the multifamily rental housing market in the Hartford region. Before engaging us, the CRDA had financed the redevelopment of 23 formerly commercial properties in Downtown Hartford into amenity-rich apartments. The CRDA needed to reassess its strategy moving forward of how to manage the 1500+ units portfolio, whether to invest further, and which market segments were appropriate for their involvement.
OUR SOLUTION
Review current and proposed competitive multifamily residential rental developments to establish:
Provide a forecast and analysis of market demand and conditions for multifamily residential rental development in the Hartford region in the coming years.
