The Assignment
GOMAN+YORK’s first task was to review current and proposed competitive multifamily residential rental developments to establish current market pricing, trends, and amenities; absorption rates; anticipated return on investment (ROI); and operating costs.
Secondly, the team was tasked with providing a forecast and analysis of market demand and conditions for multifamily residential rental development in the Hartford region in the coming years.
Services Provided
- Market Analysis to Examine the Capacity and Rental Parameters for the Hartford Multifamily Residential Rental Market
- Review of market studies and appraisal reports prepared for multifamily projects in which CRDA provided financing
- Interviews with developers and an overview of three (3) proposed Hartford developments
- Review and summarize two (2) studies prepared for the City of Hartford
- Presentation of findings to the CRDA Board of Directors