Affordable Housing Market Analysis – San Francisco, California
The Concord Group was tasked by a large affordable housing developer in California to complete the market analysis required for tax credit financing. The site, located in the San Francisco Bay Area, was located in a prime redevelopment area that had experienced a chronic shortage of affordable housing.
We evaluated local supply and demand conditions relating to affordable housing, provided justification for the proposed product, and projected supportable rental rates upon delivery of the units – while conforming to the market study guidelines set by the relevant allocation committee. In two weeks, we evaluated the site and its development opportunity, completed the detailed market study and produced a package in a format easily understood and accepted by the allocation committee. Like most of our tax credit projects, the project was awarded the requested tax credits and construction promptly commenced.
The Concord Group’s unique understanding of the market study requirements for a wide variety of funding sources makes the team a great fit for projects of this nature. We are intimately familiar with the programs and mechanisms employed by:
- California Tax Credit Allocation Committee (CTCAC)
- California Debt Limit Allocation Committee (CDLAC)
- California Department of Housing and Community Development (Prop 1C Infill Infrastructure Grant)
- California Housing Finance Agency Mental Health Services Act Housing Program (MHSA)
- United States Department of Housing and Urban Development (Section 8)
- United States Department of Housing and Urban Development (HOME Investment Partnerships Program)
- Various state and local agency grant andloan programs
We have completed more than sixty similar projects over the past three years.