DATA-INFORMED REAL ESTATE DEVELOPMENT OPPORTUNITY IDENTIFICATION
2015 / NEW ENGLAND, US
REGIONAL REAL ESTATE MARKET: MULTIFAMILY HOUSING SURROUNDING RAIL STATIONS
This regional real estate market study aims to identify potential opportunities for a particular housing development prototype.
The multi-family projects that are used as examples in the following charts are all located within a 3-mile radius from seven Amtrak stations along the New Haven Line of the Metro-North Railroad. Within the radius of each station we collected information on gross rent, rent/square feet, unit size, property location, housing type (one-bedroom or two-bedroom) that were offered for rent on the Zillow website between July 22 and July 27, 2015. Then for each station we selected 2-4 properties whose unit sizes, locations, housing types, and accompanied amenities are comparable to the prototype development that is proposed. A few of the example units were identified as condominium units, but most were not. It is assumed that rent levels for condominium rents are comparable to rent levels for multi-family apartment units, and therefore are appropriate for comparison with the prototype project.
LOCAL REAL ESTATE MARKET: MULTIFAMILY RENTAL HOUSING IN THE DOWNTOWN AREA
This local real estate market study aims to analyze the feasibility of implementing a housing development prototype in a city in the southern part of the Greater Boston area of Massachusetts.
The multi-family projects included the following charts are all located within the downtown area, and have unit sizes, locations, housing types, and accompanied amenities that are comparable to the prototype units. All rents have been adjusted for utility and parking costs.
Yuqi Wang 