CDS Community Development Strategies
Quantitative Research is used to quantify the problem by generating data that can be used statistically. It is used to quantify attitudes, opinions, behaviors, or variables. This method will measure the level of occurrences on the basis of numbers. This sample size is typically quite large. Methods of Quantitative research include: online surveys, paper surveys, telephone interviews, and polls.
In every instance, CDS Community Development Strategies will employ qualitative research in the form of interviews. CDS gathers primary information and background facts from appropriate representatives of the market. We will conduct interviews with administrators and university staff as appropriate in a student housing study. We talk to apartment on-site managers and real estate consultants’ familiar with market conditions/trends and specific residential properties when doing a multifamily housing study. Retail, Office, Self-Storage, and Industrial studies require interviews with brokers and developers familiar with the markets regarding rental rates, occupancies, leasing activity and tenant preferences. In most instances, when available we also contact public officials, private parties, stake holders and developers to get their opinions.
Sometimes, online and/or telephone surveys are used to gain information from the general population. Housing and retail studies sometimes entail surveys as well as City Parks, City Plans, etc. Before, going forward with plans that involve the general public, opinions are needed and warranted.
Once information is gathered from the surveys, CDS often recommends focus groups in studies to drill down into the information gleaned from the survey. At this point, small sample groups are brought together to ask opinions on specific floor plans, amenities, and prices in housing studies. In retail, groups are asked opinions on specific retailers, locations, etc. Or groups of retailers, hotel and restaurant managers, office workers in the area are asked to give opinions on proposed changes within a management district or city. With City plans, residents are gathered and asked to give opinions on plans and drawings that were formed from the survey results.
Which method of research do you need to answer your development questions? CDS is here to help you decide what information you are really needing and what approach will best serve your needs. Our objective is to provide research that will result in an understanding of the support for activities of real estate brokers, employers, retailers, developers, universities, and cities.
About the Author: Brenda G Crenshaw is Vice President of CDS Community Development Strategies. She specializes in office, retail, industrial, multi-family, condominium and student housing analysis. She has been with CDS for 7 years.