Computer Algorithm to Assist Real Estate Development Firm in Site Selection

Project Description

We are a real estate development firm in search of a algorithm that can assist us in quickly determining whether or not a potential development site fits our project criterion.

Contemplated Data Points for Algorithm (primarily to be used for Senior Living)

(1) An evaluation of area economic and demographic characteristics. An economic evaluation includes an assessment of area employment composition, income growth (particularly among the target market), building statistics and area growth perceptions. The demographic evaluation uses the most recently issued Census information, as well as projections that determine the characteristics of the market.

(2) An analysis of the proposed project’s market penetration into the number of potential age-/income-/asset-qualified seniors within the PMA (primary marketing area). Ideally, the PMA can be set to a 30 mile radius, 10 mile radius, and 5 mile radius.

(3) An analysis of the PMA’s senior residential facilities, including independent living, congregate care and assisted living, and memory care. The survey is used to measure the overall strength of the senior housing market. This is accomplished by evaluation of unit mix, vacancies, rent levels and overall quality of product. The second purpose of the survey is to establish those projects that are most likely directly comparable to the project under analysis.

(4) Information on planned or proposed properties that will impact the marketability of the proposed development. Planned and proposed projects are always in different stages of development. As a result, it is important to establish the likelihood of construction, the timing of the project and its impact on the market and the proposed development.

(5) An analysis of local political dynamics and the potential effect on zoning/rezoning efforts. We would take a look at more general county-wide political structure and the more local political structure in predicting the likelihood and viability in the event that a zoning change is required.

(6) Total crime risk for a Site relative to the national average, state average, and county average.

(7) A metric that might indicate to us the distance from which likely residents might travel in order to live in our facility. This strengthens the demographic understanding considered in an earlier portion

(8) An analysis of the rent-occupied vs. owner occupied market on a 30-mile, 10 mile, and 5 mile radius.

(9) An analysis of the area’s economic drivers, which include, but are not limited to: largest employers, universities, entertainment venues, events, military bases, etc.

10) Employment characteristics of the county and town with which the property is located.

In bid please provide amount of hours which will be required to complete project