Market Study and Design Analysis Services

The Vendor is required to provide market study and design analysis services.
- Real Estate Market Analysis:
• Perform a market analysis for both sites, considering the viability of each of the uses identified as community and city priorities. 
• For the residential component, identify the ideal building types given achievable rents.
• Review existing planning studies performed by the city, as well as other capital improvement projects that may enhance or constrain opportunities on the site.
• Consider key demographic and population metrics and assess current market conditions in trade area to estimate supply/demand and potential gap for the priority uses.
• Inventory existing, recently completed, under construction, and proposed real estate projects within a reasonable distance from the sites.
• Evaluate the capacity of the sites to meet that demand, as well as advantages and challenges of the site as it relates to each asset type and use.
• Validate analytical findings via interviews with developers, brokers, and/or other industry stakeholders and experts.
- Conceptual site plan analysis
• Review site constraints, zoning, land use, and development requirements (such as allowable densities, building heights, setbacks, etc.) according to city agency to understand development potential and any changes or amendments to existing zoning that may be required.
• Develop at least two (2) preliminary development programs and corresponding site plan recommendations for both city-sites.
• Evaluate multiple unit counts for the affordable project [department site only].
• Consider different orientations and proportions of the land dedicated to housing, public space, retail, and any other potential uses.
• Consider different approaches to circulation on the site, such as the inclusion of a mid-block street or pedestrian crossing.
• Consider how the market-rate and affordable housing projects relate to each other.
• Consider different parking strategies for the site (e.g., a single central parking deck or more distributed parking across the site), considering design and financing feasibility.
• Identify necessary steps to prepare land for development, including items such as additional acquisitions, change in parcel lines, zoning changes, or infrastructure investment.
- Financial feasibility and public participation
• Create a high-level financial pro forma model for each development program scenario.
• The department site, evaluate the required funding gap for the affordable housing project and the supportable land value of the market-rate portion of the site. 
• Identify the financial/project risks and the sensitivity of the financial model to these risks (e.g. changes in interest rates, construction costs, or rents).
• Consider different public-private partnership strategies (e.g. various financing tools, shared parking model, or other public private strategies) with potential impact on the feasibility of the project.
- Contract Period/Term: 1 year
- Pre-Proposal Conference (Optional) Date: June 27, 2025
- Questions/Inquires Deadline: July 3, 2025