Indian Creek Apartments
Total Page:16
File Type:pdf, Size:1020Kb
Market Feasibility Analysis Indian Creek Apartments Decatur, DeKalb County, Georgia Prepared for: LGD Development Effective Date: August 6, 2018 Site Inspection: August 6, 2018 Indian Creek Apartments | Table of Contents TABLE OF CONTENTS 1. EXECUTIVE SUMMARY.................................................................................................... 1 2. INTRODUCTION .............................................................................................................. 7 A. Overview of Subject..............................................................................................................................................7 B. Purpose of Report.................................................................................................................................................7 C. Format of Report ..................................................................................................................................................7 D. Client, Intended User, and Intended Use .............................................................................................................7 E. Applicable Requirements......................................................................................................................................7 F. Scope of Work ......................................................................................................................................................7 G. Report Limitations ................................................................................................................................................8 3. PROJECT DESCRIPTION.................................................................................................... 9 A. Project Overview ..................................................................................................................................................9 B. Project Type and Target Market...........................................................................................................................9 C. Building Types and Placement..............................................................................................................................9 D. Detailed Project Description.................................................................................................................................9 1. Project Description.......................................................................................................................................9 2. Proposed Timing of Development .............................................................................................................10 4. SITE EVALUATION ......................................................................................................... 11 A. Site Analysis ........................................................................................................................................................11 1. Site Location...............................................................................................................................................11 2. Existing and Proposed Uses .......................................................................................................................12 3. General Description of Land Uses Surrounding the Subject Site ...............................................................13 4. Land Uses Surrounding the Subject Site ....................................................................................................14 B. Neighborhood Analysis.......................................................................................................................................15 1. General Description of Neighborhood.......................................................................................................15 2. Neighborhood Planning Activities..............................................................................................................15 3. Public Safety...............................................................................................................................................15 C. Site Visibility and Accessibility ............................................................................................................................16 1. Visibility......................................................................................................................................................16 2. Vehicular Access.........................................................................................................................................16 3. Availability of Public Transit .......................................................................................................................16 4. Availability of Inter-Regional Transit..........................................................................................................17 5. Accessibility Improvements under Construction and Planned ..................................................................17 6. Environmental Concerns............................................................................................................................17 D. Residential Support Network..............................................................................................................................17 1. Key Facilities and Services near the Subject Site........................................................................................17 2. Essential Services .......................................................................................................................................18 3. Commercial Goods and Services................................................................................................................19 4. Location of Low Income Housing ...............................................................................................................20 E. Site Conclusion ...................................................................................................................................................20 5. MARKET AREA .............................................................................................................. 21 A. Introduction........................................................................................................................................................21 B. Delineation of Market Area ................................................................................................................................21 6. COMMUNITY DEMOGRAPHIC DATA.............................................................................. 23 A. Introduction and Methodology ..........................................................................................................................23 B. Trends in Population and Households................................................................................................................23 1. Recent Past Trends.....................................................................................................................................23 2. Projected Trends ........................................................................................................................................23 3. Building Permit Trends...............................................................................................................................24 C. Demographic Characteristics..............................................................................................................................25 1. Age Distribution and Household Type .......................................................................................................25 Page i Indian Creek Apartments | Table of Contents 2. Renter Household Characteristics..............................................................................................................26 3. Income Characteristics...............................................................................................................................27 7. EMPLOYMENT TREND................................................................................................... 30 A. Introduction........................................................................................................................................................30 B. Labor Force, Resident Employment, and Unemployment..................................................................................30 1. Trends in County Labor Force and Resident Employment.........................................................................30 2. Trends in County Unemployment Rate......................................................................................................30 C. Commutation Patterns .......................................................................................................................................31 D. At-Place Employment .........................................................................................................................................31 1. Trends in Total At-Place Employment........................................................................................................31 2. At-Place Employment by Industry Sector...................................................................................................32 3. Major Employers........................................................................................................................................34