CDS Community Development Strategies
1. Physically possible
2. Legally permissible
3. Financially feasible
4. Maximally productive
The research process which answers this question focuses primarily on the economic demand in the area surrounding the property. First, market areas are delineated for each potential land use. Population characteristics, employment activity, mobility patterns, and other demographic trends are carefully analyzed and related to each land use. Next, it’s important to provide a clear picture of the competition for each land use, with a focus on performance levels which can help determine the level of existing demand (i.e. occupancy, inventory, rents, lease rates, etc.). Several sources are utilized to gather this information including real estate publications, reporting services, field visits, customer/client surveys, and interviews with industry professionals. With the level of demand quantified, the return on investment and rate of absorption for each potential land use can then be estimated and compared.
About the Author: Kent Dussair founded CDS in 1971 for the purpose of providing professional market and economic research and consulting services. With over 50 years of professional experience, Kent continues to help CDS implement and evaluate effective qualitative research.