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LISA WARNER

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Housing Units x Median Household Income = Buying Power ... Auto thefts. Burglaries. Robberies. Homicides. Violent crimes. Census Tract. CRIME DATA ... – PowerPoint PPT presentation

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Title: LISA WARNER


1
LISA WARNER
  • DETROIT SHOREWAY AND THE WOODLAND AREA
  • ECO-VILLAGE II?

2
INTRODUCTION
  • Detroit Shoreway Community Development
    Organization
  • Eco-City Cleveland
  • Eco-Village Cleveland
  • W 58th Townhomes
  • 2004

3
INTRODUCTION
  • Green Building
  • Environmentally friendly
  • Sustainable, quality construction
  • Transit-oriented development
  • W 65th Street RTA Station
  • Site (reused), construction (conserves), design
    (energy efficient)

Builders of new homes typically generate about
3,000 pounds of wood, 2,000 pounds of drywall and
600 pounds of cardboard as waste for the average
2,000-square-foot home.National Association of
Home Builders Research Center, 2001
4
PROBLEM STATEMENT
  • The Eco-Village has sold out completely and
    remains a valuable asset to the Detroit Shoreway
    neighborhood.
  • Eco-City Cleveland and other involved parties
    are now looking at the possibility of making an
    east side Eco-Village, or Eco-Village II.
  • Is there market demand?
  • How similar are these neighborhoods?
  • By using market analysis techniques, is it
    possible to determine if the market will absorb a
    second Eco-Village?

5
DATA SOURCES
  • US Census Bureau, 2000 Data
  • Demographic information
  • NEOCANDO, Case Western
  • Crime statistics
  • Eco-Village Cleveland
  • David ONeill, Market Analysis Professor
  • Dr. Lee, 7-county road map
  • www.nhlik.net
  • Basic information about Clevelands CDCs

6
METHODOLOGY
  • Method Analyze readily available information to
    make a good generalization of the local market.
  • Market Analysis Techniques
  • Housing Units x Median Household Income Buying
    Power
  • Percentages of Buying Power tell a lot about the
    market. I.E. about 20 spent on retail goods,
    about 30 for mortgage
  • Different Types of Income
  • Occupancy and Vacancy Rates
  • Compare the two neighborhoods to determine if
    they are similar
  • Examine the demographic information

7
ANALYSIS
  • Side by side comparison of the maps
  • Detroit Shoreway is located approximately
    between Detroit and Lorain from W 70th to W 50th
  • Second site is located near the corner of Shaker
    Blvd and E 116th/MLK Jr. Dr.
  • Hospital closed in 1999

8
Overview map
9
MEDIAN HOUSEHOLD INCOME
10
BUYING POWER
BUYING POWER
11
OCCUPANCY RATES
OCCUPANCY RATES
12
RACE
  • -White
  • Black
  • American Indian/ Alaska Native
  • Asian
  • Native Hawaiian/Pacific
  • Other
  • 2 or more races

13
PUBLIC ASSISTANCE INCOME
-Total -With Public Assistance -Without Public
Assistance
14
RETIREMENT INCOME
-Total -With Retirement Income -Without
Retirement Income
15
CRIME DATA DETROIT SHOREWAY
16
CRIME DATAWOODLAND HILLS AREA
17
DEMOGRAPHICS
18
BUYING POWER
  • Detroit Shoreway 95,400,922
  • Less people, less money available
  • Woodland Hills 158,369,085
  • More buying power even though the MHHI is lower
    by about 2,000/household
  • Density makes a big difference
  • DS 134,150/560/mth
  • Woodland 117,600/490/mth
  • BP x 30/12/HU/x12months/ x20years
  • Retail is different

19
CONCLUSIONS
  • Local market may not support it, but the
    regional/national market will.
  • Go ahead with project
  • Niche Market Analysis
  • Difficult to determine market
  • Many different factors than main stream housing
  • Buyers from Chicago

20
THE END!
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