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.

Services: Market Research and Absorption
Location: Sheridan Lake, Kiowa County, Colorado
THK assisted Kiowa County Economic Development Foundation (KCEDF) in determining the development feasibility and market potential of building affordable housing opportunities throughout Sheridan Lake, Kiowa County, Colorado. THK created an economic base analysis and displayed a thorough understanding of the surrounding supply and demand marketplace for affordable housing along with demand factors from a proposed $2B wind energy project . Data included interviewing key people and qualifying existing and proposed competitive developments, quantifying pent-up affordable housing demand today, and projected affordable housing demand over the next decade. (New Para) THK’s data on housing characteristics by affordability, unit-type, square footage, rental rate, and occupancy was used in conjunction with regional and local planning efforts to determine a suitable and receptive development. THK’s research projected affordable housing demand by unit type, rental rate, and size in order to recommend an appropriate development that blended seamlessly into the surrounding community. This was a CHFA certified market analysis.