Targeted Market Feasibility Study Services

The Vendor is required to provide a targeted market study (study) related to the planning effort community plans consisting of four community plan areas.
- The Study will focus on the identified Project Area and:
• Analyze residential, commercial, and industrial market conditions for the project area, taking into account changing market trends and dynamics, as well as new and anticipated transit infrastructure [metro e line and k line stations, and future planned metro d line stations and lax automated people mover (APM)];
• Inventory and analyze existing incentive-based affordable housing programs and provide recommendations for increased or varied incentives for the project area;
• Inventory and analyze business types, industries, and commercial spaces as well as retail, commercial, and industrial needs and anticipated trends;
• Analyze the use of and identify additional community benefits for both mixed-use and nonresidential projects besides affordable housing, if additional community benefits were considered;
• Analyze the market conditions of the project area and the effects of specific proposed land use regulations in the project area;
• Conduct pro forma analysis on a selection of sites within the project area;
• Analyze multiple alternatives as needed to inform the adoption process;
• Present the findings in a written report;
• Prepare a clear, concise presentation for department to update stakeholders as part of the planning process;
• Conduct up to two public outreach meetings to stakeholders to present on concise, jargon free concepts and study findings;
• Prepare informational handouts, and materials (boards, presentations, displays, graphics) in English and Spanish, provide staff with pdfs of materials for online publication, provide translation/interpretation services for meetings as needed; and
• Provide a substantial and secure file-sharing service.
- Housing market analysis - The project area includes residential, mixed-use, and commercial zones which allow residential development.
• Assess the implementation and utilization of the recent citywide housing element rezoning programs in respect to the project area which includes some the following:
• The citywide housing incentive program, including the mixed income incentive program (MIIP), affordable housing incentive program (AHIP), and the state density bonus program.
• The adaptive reuse program
• The housing element sites and minimum density ordinance.
• Evaluate feasibility for greater affordable housing incentives that the MIIP program in targeted areas identified by department.
• Identify the opportunities and barriers to make missing middle typologies (e.g., four to ten-plex, townhome developments) financially feasible, inclusive of affordable units as part of the development.
• Strategies to incentivize homeownership and above-moderate & moderate affordable housing.
• Non-residential project community benefits - Analyze the use of community benefits for non-residential and mixed-use projects, such as publicly accessible open space, grocery stores, multi-bedroom units, or childcare facilities, and identify necessary adjustments to the proposed community benefits program’s base and bonus system if additional community benefits were considered.
• Pro Forma on non-residential community benefits – the department will identify several prototype sites that will serve as sites that have the potential to redevelop.
• The consultant will then evaluate the short- and long-term economic feasibility of the projects to utilize a community benefits program.