Our Market Analysis division has grown out of an increased need for market studies and consulting for newly developed housing projects. On an annual basis, we complete between 50 and 70 market studies in conjunction with a wide variety of multiple family housing including:
- Proposed developments using Low-Income Housing Tax Credits.
- Market studies in conjunction with proposed market rate housing projects.
- Senior specific as well as family developments.
- Market studies required under the HUD MAP guidelines.
- Market analysis and market studies required in order to support HUD Section 236 Decoupling efforts.
Our market studies are prepared in conjunction with the requirement of the end user. We are approved under the HUD MAP Program, and recognized by New York State DHCR, New York State HFA, Fannie Mae and Freddie Mac as a provider of such studies. We are also approved as a market analyst with the Arizona Department of Housing. Over the past decade, GAR Associates has been active in completing numerous studies in conjunction with submission for Low-Income Housing Tax Credits issued by NYS DHCR. We have completed studies across New York State, spreading from metropolitan New York City to Western New York, and areas in between. Based on our experience here, and in conjunction with our NCAHMA ties, we have expanded our studies to other areas including work in Florida, Connecticut, Massachusetts, Pennsylvania, and Nebraska.
We recognize that completion of such studies is a critical component of development for housing across the country. This is especially true in limited growth markets, where specific projects must find a supportable market "niche" in order to achieve operating success. Our studies identify specific supply and demand variables that are important to consider for the wide array of housing options. We are also aware of and address the concerns in the current economic climate related to Affordable Housing Markets. Given the heightened sensitivity and demand for high quality development efforts, there has been an increased concern pertaining to Market. We feel that a strong and dependable study helps projects from the standpoint of the developer, State Allocating Agencies, and the Syndicator/Financial market place.
As the need for market studies has advanced and grown, so has the need for specific industry guidelines and standards. As such, GAR Associates has become an active member of NCAHMA - the National Council of Affordable Housing Market Analysts. This group has been instrumental in creating guidelines and standards that apply for preparation of market studies, and creating standard definitions. These Guidelines and Model content standards have been generally recognized as industry standard in many states. Scott Allen assisted in the formulation of many of the documents as a Member of the Standards Committee and still serves on that Board. Currently, he is also on the Executive Committee and serving as Vice Chair for this active trade organization.
For additional information on market studies
for your housing needs, please contact: