Services: Single Family Lot Market Trend Analysis
Location: Greater Denver Metropolitan Area, CO
THK Associates, Inc. was retained by Cardel Homes to assess recent and historical trends in sales prices of platted single family lot sales and finished single family lot sales that were sold in tranches by developers to nationwide public homebuilders, in the following counties in Colorado; Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, and Jefferson Counties. Further, THK Associates, Inc. then compared these sales to a number of relative statistics, including the Denver MSA Case Shiller Average Home Price and the S&P 500 average close price. This data allowed Cardel Homes to better comprehend the pricing trends allowing them to strategically position themselves in the marketplace for buying residential land for development.
Services: Glamping/Cabin Resort Market Analysis/Development Feasibility
Location: Salida, Colorado
THK conducted a market analysis for Aspire Tours to determine the development potentials for a glamping/cabin resort and recreational tour operation for a 43-acre site located adjacent to the Arkansas River and U.S. Highway 285 in Salida, Colorado in Chaffee County. THK inventoried and profiled locational and conceptual competitive glamping and cabin/campground facilities to determine fees and rates, amenities, activities and other relevant data. THK Associates, Inc. also researched local whitewater rafting companies, as well as other recreation tour operators for fishing and biking to understand the depth of the competition and their trip and tour offerings, packages and rates. The supply and demand forces affecting the region’s and the site environs’ glamping and cabin lodging markets were then analyzed. Based on this research and analysis, the capture rate, utilization and absorption for proposed glamping and cabin uses at the Aspire Tours site were established and a financial cash flow model was completed to determine the anticipated annual revenues, expenses and the net operating income for the subject property over a ten-year period.
Services: Market Research and Absorption
Location: Aurora, Colorado
THK prepared a market and economic feasibility study to assess the potential for LIHTC/CHFA rental apartments at a 2-acre property located at the northwest corner of Ellsworth Avenue and Sable Boulevard in Aurora, Colorado. The project was seeking a 4% tax credit from CHFA and was targeted to low-income renter households. THK’s research included a projection of the market for rental apartment residential uses; an analysis of existing and proposed competition; and recommendations for the optimum rental rates by unit type. Unit absorption and a recommended development model for build-out were programmed. The recommendations also included estimates of the total units for which market support existed, amenities and parking requirements. THK ensured that the appropriate mix of rental rates met LIHTC/CHFA guidelines.
Services: Specialized Market Research and Absorption
Location: Castle Rock, Colorado
THK assisted the Sky Cliff Center with a specialized residential market research and absorption analysis. The Sky Cliff Center’s initiative to develop 64 residential units for households with individuals with Intellectual and Developmental Disabilities (IDD) presents a significant opportunity to address a specialized housing need. THK’s residential market analysis is a significant component in determining the feasibility and long-term success of the Sky Cliff Center IDD project. THK evaluated and assessed the demand for IDD housing, affordability, and pricing models for the target demographics, the long-term financial viability of the development, and provided recommendations for ensuring that the project aligns with the community’s need for IDD housing within the target community. This project provided actionable recommendations to the Sky Cliff Center by ensuring the project meets the needs of the IDD community and remains financially viable. Also, THK highlighted steps for community engagement, pricing adjustments, or operational strategies that will contribute to long-term success.
This structured analysis assisted the Sky Cliff Center to confirm that its proposed development aligns with the specific needs of the IDD community, ensuring both community impact and financial sustainability.
Services: Market Research and Absorption
Location: Holyoke, Colorado
THK prepared a market and economic feasibility study to assess the potential for LIHTC/CHFA rental apartments at a 0.85-acre property located adjacent to the existing Holyoke Housing Authority project in Holyoke, Colorado. The project was seeking a tax credit from CHFA and was targeted to low-income renter households. THK’s research included a projection of the market for rental apartment residential uses; an analysis of existing and proposed competition; and recommendations for the optimum rental rates by unit type. Unit absorption and a recommended development model for build-out were programmed. The recommendations also included estimates of the total units for which market support existed, amenities and parking requirements. THK ensured that the appropriate mix of rental rates met LIHTC/CHFA guidelines.
