RND Consultants, Inc.
DBE/WBE/SBE Certified

Project Description:

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RND Consultants, Inc. was engaged by a private developer to analyze the Tri-County market for a proposed 75,000 square foot mixed-use development across 6 parcels. The development would include mixed-income residential and retail components. The development firm wanted to better understand the neighborhood demographics, demand drivers, and financially viable project components. Project name was titled: The Community Project in Hanahan, South Carolina. RND created sources and uses budgets with alternative financing tools that will help promote the ability to produce affordable units.

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Lessons Learned:  Key to analyze real estate fundamentals for every site. Understand the balance of amenities needed in proximity for all income level occupants. Exploring ways to leverage market analysis reports that inform development team members early on in the process.

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Challenges: The development firm lacked a roadmap or framework that provided context and vision for the project. Solving for how the development can leverage surrounding facilities that service the site. The site had specific constraints with rear access due to fragmented ownership on the rear side.

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Overcoming Challenges: The project team developed a package with key site details including mapping, demographic & economic data, rental figures, capital market’s needs, feasible housing typology, and affordable housing goals & funding sources. Developed a presentation deck that could be shared with public officials, investors, and relevant stakeholders highlighting the housing demand in the area and the site’s centrality to transit, healthcare, grocers, and banks.

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