sample market research Projects
residential market study
Abingdon, VA
RKG Associates was retained by the developer, Quest Group, LLC, to prepare a residential market study, development plan, and pricing strategy for the pro-ject. RKG identified competitive residential communi-ties within 20 miles of the proposed development and documented sales and land absorption trends, pricing, and home styles and community amenities. One of the target markets for Piper Spring was retiring “baby-boomers” from the Northeast, Florida, and Upper Midwest Ridge Mountains. The Piper Spring community is currently under construction.
retail market analysis
Freeport, Maine
Freeport’s downtown core is home to world-famous L.L. Bean, a highly special-ized, 700,000 square foot outlet center. Working with a nationally-known archi-tectural planning firm, RKG Associates, Inc. undertook a property and market analysis of downtown Freeport. One of the key findings was the need to expand opportunities to retain shoppers and tourists for longer periods of time. A series of recommendations were developed that included expanding the range of en-tertainment and shopping options beyond the traditional outlet-shop genre, in-creasing the number of hotel accommodations and adding to the potential for evening activities such as restaurants, cinema and theatre/music productions. Many of these recommendations are being implemented.
citywide market research
Norwalk, Connecticut
The City of Norwalk, located within a one hour commute to New York City, is essentially built-out and has been experiencing sig-nificant residential and commercial/retail development pressure over the past few years. However, two neighborhoods of the city remain significantly undeveloped. RKG analyzed the commer-cial/retail and residential supply and demand within the greater Norwalk region to help the Redevelopment Authority evaluate developer proposals for these two underperforming areas of the city, The research results helped the city decide whether or not to support these developments through creative financing and re-zoning.
city-wide housing market research
Pittsburgh, Pennsylvania
The City of Pittsburgh has been experiencing steady house-hold and population decline for more than 30 years. As a result, the City’s housing market has been adversely im-pacted, with vacancy reaching more than 12% citywide. As a result, the private sector has become a direct market competi-tion with the Housing Authority of the City of Pittsburgh’s (HACP) public housing supply. The Housing Authority of the City of Pittsburgh retained the services of RKG Associates to prepare a comprehensive residential market study and strategic action plan to direct the Housing Authority’s public housing investment programs over the next 10 years.
housing market analysis
Providence, Rhode Island
Providence is undergoing a true “urban renais-sance” focused on its revitalized downtown core. However, very little new construction has occurred and no truly comparable projects were available to assist in determining the viability of a “new” high-end product aimed at the booming “empty nester” and “young professional” sec-tors of the market. RKG’s market research, which included surveys and interviews with prospective buyers, indicated that unit size, de-sign and amenity levels would be critical ele-ments in a successful marketing campaign. By carefully segmenting the market, recommenda-tions were made to provide a range of unit styles and price points in order to minimize the devel-opment risks. Eastside Commons is now com-pleted, with all units sold.