Market opportunity Analysis
1000 Lake Avenue ReDevelopment Feasibility and Positioning
The Lake Worth Community Redevelopment Agency (CRA) owns the building located at 1000 Lake Avenue and has secured a variety of potential funding sources to redevelop the 14,400 sf property. The CRA conducted studies to assess estimated site development and design considerations.
Client
Lake Worth Beach Community Redevelopment Agency
Service
Market Opportunity Analysis
Real Estate Impact
Location
Lake Worth Beach, Florida
JS&A was retained to help guide CRA decision making by conducting an in-depth market analysis, determining an optimal land use arrangement, and estimating anticipated revenues on site. Based on this work, JS&A was retained for a second phase including a detailed financial analysis.
Project Scope
Market Analysis
Highest and Best Use Analysis
Building Program Assessment and Recommendations
Revenue Analysis
Development Scenario Recommendations
Financial Analysis and Deal Structure Assessment
JS&A conducted a comprehensive market analysis of the following land uses in order to assess the expected market viability of each on site: office use; ground-floor retail; market-rate rental apartments; market-rate condominiums; and subsidized rental apartments.
Based on market analysis findings, JS&A assessed the most appropriate land uses for the building, evaluating the market viability of each land use, the opportunity to meet CRA and City objectives, and expected revenue streams associated with each land use. JS&A developed a preferred and alternative building program based on the highest and best use assessment, recommending the square footage of each land use for each floor and applicable market positioning and orientation.
JS&A assessed the expected revenues generated annually for both the preferred and alternative building program and conducted a pro forma analysis of potential deal structures and corresponding project costs, equity and debt sources, tax credit feasibility, revenue streams, and more.