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Donald Lee Hollowell Apartments Atlanta, Fulton County, Georgia

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Donald Lee Hollowell Apartments Atlanta, Fulton County, Georgia Market Feasibility Analysis Donald Lee Hollowell Apartments Atlanta, Fulton County, Georgia Prepared for: The Vecino Group Effective Date: July 22, 2019 Site Inspection: July 22, 2019 Donald Lee Hollowell Apartments | Table of Contents TABLE OF CONTENTS 1. EXECUTIVE SUMMARY.................................................................................................... 1 2. INTRODUCTION .............................................................................................................. 9 A. Overview of Subject..............................................................................................................................................9 B. Purpose of Report.................................................................................................................................................9 C. Format of Report ..................................................................................................................................................9 D. Client, Intended User, and Intended Use .............................................................................................................9 E. Applicable Requirements......................................................................................................................................9 F. Scope of Work ......................................................................................................................................................9 G. Report Limitations ..............................................................................................................................................10 3. PROJECT DESCRIPTION.................................................................................................. 11 A. Project Overview ................................................................................................................................................11 B. Project Type and Target Market.........................................................................................................................11 C. Building Types and Placement............................................................................................................................11 D. Detailed Project Description...............................................................................................................................12 1. Project Description.....................................................................................................................................12 2. Other Proposed Uses .................................................................................................................................13 3. Proposed Timing of Development .............................................................................................................13 4. SITE EVALUATION......................................................................................................... 14 A. Site Analysis ........................................................................................................................................................14 1. Site Location...............................................................................................................................................14 2. Existing and Proposed Uses .......................................................................................................................15 3. General Description of Land Uses Surrounding the Subject Site ...............................................................16 4. Land Uses Surrounding the Subject Site ....................................................................................................17 B. Neighborhood Analysis.......................................................................................................................................18 1. General Description of Neighborhood.......................................................................................................18 2. Neighborhood Planning Activities..............................................................................................................18 3. Public Safety...............................................................................................................................................18 C. Site Visibility and Accessibility ............................................................................................................................19 1. Visibility......................................................................................................................................................19 2. Vehicular Access.........................................................................................................................................20 3. Availability of Public Transit.......................................................................................................................20 4. Availability of Inter-Regional Transit..........................................................................................................20 5. Accessibility Improvements under Construction and Planned ..................................................................20 6. Environmental Concerns............................................................................................................................20 D. Residential Support Network..............................................................................................................................20 1. Key Facilities and Services near the Subject Site........................................................................................20 2. Essential Services .......................................................................................................................................21 3. Commercial Goods and Services................................................................................................................22 4. Location of Low Income Housing ...............................................................................................................23 E. Site Conclusion ...................................................................................................................................................23 5. MARKET AREA.............................................................................................................. 24 A. Introduction........................................................................................................................................................24 B. Delineation of Market Area ................................................................................................................................24 6. COMMUNITY DEMOGRAPHIC DATA.............................................................................. 26 A. Introduction and Methodology ..........................................................................................................................26 B. Trends in Population and Households................................................................................................................26 1. Recent Past Trends.....................................................................................................................................26 2. Projected Trends ........................................................................................................................................26 3. Building Permit Trends...............................................................................................................................26 C. Demographic Characteristics..............................................................................................................................28 Page i Donald Lee Hollowell Apartments | Table of Contents 1. Age Distribution and Household Type .......................................................................................................28 2. Household Trends by Tenure .....................................................................................................................30 3. Renter Household Characteristics..............................................................................................................31 4. Income Characteristics...............................................................................................................................32 7. EMPLOYMENT TRENDS................................................................................................. 35 A. Introduction........................................................................................................................................................35 B. Labor Force, Resident Employment, and Unemployment..................................................................................35 1. Trends in County Labor Force and Resident Employment.........................................................................35 2. Trends in County Unemployment Rate......................................................................................................35 C. Commutation Patterns .......................................................................................................................................35 D. At-Place Employment .........................................................................................................................................37 1. Trends in Total
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