A private development company in Mississippi retained Anderson Economic Group to conduct a feasibility study for their proposed development of a mix of dwelling units in a Planned Unit Development (P.U.D.) near Ocean Springs, Mississippi.
We were able to confirm solid opportunity for new condominium and single-family units with exceptional absorption rates at appropriate price points.
Nearly two years after the devastation that Hurricane Katrina brought to the coastline, these developers and our firm were among the first in efforts to develop new low-income and market rate housing to the area. The purpose of our study was to develop an optimal strategy for development, identify the opportunity for new multi- and single-family units, determine target price points and formats, and provide anticipated absorption rates. As a part of our work, we conducted a site visit, market tour, supply and demand analysis, and a thorough inventory of the current supply of for-sale houses within the local area.
After less than two months of pre-sales, the project sold nearly every unit in the planned development.