g.i.s. for economic geography & business decisions midterm exam project geo 5157 dr. grant...

G.I.S. for Economic G.I.S. for Economic GeographyGeography

& Business Decisions & Business Decisions

Midterm Exam Project Midterm Exam Project

GEO 5157GEO 5157

Dr. Grant ThrallDr. Grant Thrall

Edward BordenEdward Borden

Creek Side Creek Side ApartmentsApartments

a Lofty Apartment Partners a Lofty Apartment Partners DevelopmentDevelopment

Location Analysis byLocation Analysis by

MUB Consulting, Inc.MUB Consulting, Inc.forfor

Lofty Apartment Partners, Inc and Lofty Apartment Partners, Inc and Atlantic Savings and LoansAtlantic Savings and Loans

© 2000 MUB Consulting, All Rights Reserved© 2000 MUB Consulting, All Rights Reserved

ScenarioScenarioThis location analysis report was preformed This location analysis report was preformed for Lofty Apartment Partners, Inc. and for for Lofty Apartment Partners, Inc. and for Atlantic Savings and Loans. The location Atlantic Savings and Loans. The location analysis was done on the proposed analysis was done on the proposed Creek Creek Side ApartmentsSide Apartments facility in Jacksonville, FL. facility in Jacksonville, FL.

This report is to provide both L.A.P., Inc and This report is to provide both L.A.P., Inc and Atlantic S & L will localized data, and Atlantic S & L will localized data, and projected data on the proposed site projected data on the proposed site

location. location.

The QuestionThe Question

Creek Side Apartments - SpecificsCreek Side Apartments - Specifics•300 - Units Complex300 - Units Complex

•$10,000,000 - cost to build$10,000,000 - cost to build

•Demographics Focus - New FamiliesDemographics Focus - New Families

•Needs to be close to: Schools, Churches, Shops, & Medical FacilitiesNeeds to be close to: Schools, Churches, Shops, & Medical Facilities

•Needs to have good access to a Transportation NetworkNeeds to have good access to a Transportation Network

Does the proposed location for the Creek Does the proposed location for the Creek Side Apartments Complex meet these Side Apartments Complex meet these

requirements?requirements?

General Location General Location InformationInformation

FloridaFlorida JacksonvilleJacksonville Duval CountyDuval County St. Johns RiverSt. Johns River CoordinatesCoordinates

– (x) -81.65(x) -81.65– (Y) 30.27(Y) 30.27

N

Map GuideMap Guide In this project In this project

there will be a there will be a series of maps - series of maps - these maps are these maps are broken down broken down into three zones:into three zones:– 2 Mile Radius2 Mile Radius– 4 Mile Radius4 Mile Radius– 6 Mile Radius6 Mile Radius

Census Tract #0164Census Tract #0164

Detailed Linked Detailed Linked DataData

Fall within the 2 Mile Fall within the 2 Mile Radius of Creek Side Radius of Creek Side ApartmentsApartments

Fall between the 2 and 4 Fall between the 2 and 4 Mile Radius of Creek Side Mile Radius of Creek Side ApartmentsApartments

Fall between the 4 and 6 Fall between the 4 and 6 Mile Radius of Creek Side Mile Radius of Creek Side ApartmentsApartments

Color -Code Color -Code KeyKey

Demographic Information Demographic Information About the Proposed About the Proposed

LocationLocation

2 Mile Radiu2 Mile Radiuss



This slide provides This slide provides links to links to

demographic demographic snapshots within snapshots within

each zone. Click on each zone. Click on the mile radius the mile radius

rings to view the rings to view the demographic data demographic data

around the around the proposed site.proposed site.

This data snapshot was created with CensusCD+Maps

2 Mile Radius2 Mile Radius– Population 19,202Population 19,202– 17.3% of the 17.3% of the

population is population is between 25-34 between 25-34 years oldyears old

– 42.4% of renters 42.4% of renters pay $300 - $499 pay $300 - $499 in monthly rentin monthly rent

– 15.3% of the 15.3% of the population has an population has an income of $25K - income of $25K - $35k annually$35k annually

Highlighted Demographic Highlighted Demographic InformationInformation

(all percentages are the largest in their field per (all percentages are the largest in their field per capita)capita)

4 Mile Radius4 Mile Radius– Population 86,572Population 86,572– 19% of the 19% of the


– 54.6% of renters 54.6% of renters pay $300 - $499 pay $300 - $499 in monthly rentin monthly rent


2 Mile Radius2 Mile Radius– Population Population

241,954241,954– 19.3% of the 19.3% of the


– 49% of renters 49% of renters pay $300 - $499 pay $300 - $499 in monthly rentin monthly rent


Projections About the Projections About the Proposed LocationProposed Location




This slide provides This slide provides links to projections links to projections within each zone. within each zone. Click on the mile Click on the mile

radius rings to view radius rings to view the projected data the projected data

around the around the proposed site.proposed site.


Highlighted Projections Highlighted Projections InformationInformation

2 Mile Radius2 Mile Radius– Population increase Population increase

by 3.9%by 3.9%– Housing Units Housing Units

increase by 3.5%increase by 3.5% Owner Occupied Owner Occupied

increase by 3.4%increase by 3.4% Renter Occupied Renter Occupied

decrease by 2.3%decrease by 2.3%

All projections are a percentage of increase & decrease All projections are a percentage of increase & decrease from 1997 - 2002from 1997 - 2002





decrease by 1%decrease by 1%





decrease by 1.2%decrease by 1.2%

Some Interesting Points Some Interesting Points about the 2002 Projectionsabout the 2002 Projections

Within the entire 6 Mile study area Within the entire 6 Mile study area the total population will the total population will

increase 3.9%, to 271,396 people.increase 3.9%, to 271,396 people.

While the total housing supply will While the total housing supply will only increase to 3.5%, and renting only increase to 3.5%, and renting properties will decrease by 1.2%properties will decrease by 1.2%

Population Expenditure Population Expenditure Information About the Proposed Information About the Proposed

LocationLocation




This slide provides This slide provides links to population links to population

expenditure expenditure information within information within each zone. Click on each zone. Click on the mile radius rings the mile radius rings

to view the to view the population population

expenditure data expenditure data around the proposed around the proposed

site.site.


2 Mile Radius2 Mile Radius– Total Housing Total Housing

increase by 33.7%increase by 33.7% Shelter increase Shelter increase

by 55.4%by 55.4%

– Total Food Total Food increase by 14.3%increase by 14.3%

Eating at Home Eating at Home increase by 8.7%increase by 8.7%

– Total Total Transportation Transportation increase by 18.9%increase by 18.9%

Vehicle Vehicle Purchases Purchases increase by 8.6%increase by 8.6%



by 19.7%by 19.7%



– Total Total Transportation Transportation increase by 19%increase by 19%

Vehicle Vehicle Purchases Purchases increase by 8.9%increase by 8.9%



by 19.7%by 19.7%



– Total Total Transportation Transportation increase by 19.1%increase by 19.1%

Vehicle Vehicle Purchases Purchases increase by 9%increase by 9%

All projections are a percentage of increase from 1997 - All projections are a percentage of increase from 1997 - 20022002

Highlighted Population Highlighted Population Expenditure InformationExpenditure Information

33% - Newly Formed 33% - Newly Formed HouseholdsHouseholds

21% - Military Proximity21% - Military Proximity 17% - Active Senior Singles17% - Active Senior Singles 13% - Baby Boomers With 13% - Baby Boomers With

ChildrenChildren 4% - Prosperous Older 4% - Prosperous Older

Couples, Couples, Retirement Retirement Communities, Small Communities, Small Town Town Working Families, Working Families, Social Social Security Security Dependents, Twenty- Dependents, Twenty-

SomethingSomething

Types of People

17%

13%

21%

33%

4%

4%

4%4%

Types of People in Types of People in Neighborhood which are Neighborhood which are

leasing Apartmentsleasing Apartments

Current Supply of Current Supply of Apartment FacilitiesApartment Facilities

In this map the In this map the yellow dots re-yellow dots re-present apartment present apartment facilities which facilities which currently exist.currently exist.

Click on the map Click on the map to see a detailed to see a detailed table of these table of these apartment apartment facilities.facilities.

Total Amount of UnitsTotal Amount of Units– 2 Mile Radius2 Mile Radius

> 137 Units> 137 Units– 4 Mile Radius4 Mile Radius

> 2,299> 2,299– 6 Mile Radius6 Mile Radius

> 535> 535 Total Number of Total Number of

Units - more than Units - more than 2,9712,971

Total Squarefeet - Total Squarefeet - 8,491,4078,491,407

Average Cost - Average Cost - $3,155,448$3,155,448

Average Age -30 Average Age -30 yearsyears

Average Acreage Average Acreage - 7.8 Acres- 7.8 Acres

Highlighted Information About Highlighted Information About the Current Supply of Apartment the Current Supply of Apartment

FacilitiesFacilities

Future Supply of Future Supply of Apartment FacilitiesApartment Facilities

In this map the In this map the purple dots re-purple dots re-present apartment present apartment facilities which will facilities which will exist in the future.exist in the future.

Click on the map Click on the map to see a detailed to see a detailed table of these table of these apartment apartment facilities.facilities.

Total Amount of Total Amount of Units which are Units which are going to be built:going to be built:– 2 Mile2 Mile

0 -Units0 -Units

– 4 Mile4 Mile 32 - Units32 - Units

– 6 Mile6 Mile 52 -Units52 -Units

Highlighted Information About Highlighted Information About the Future Supply of Apartment the Future Supply of Apartment

FacilitiesFacilities

All units are to be All units are to be completes by completes by October 1999October 1999

New Unit Total by New Unit Total by zone:zone:• 2 Miles2 Miles

•> 137 Units> 137 Units• 4Miles4Miles

•> 2,531 Units> 2,531 Units• 6Miles6Miles

•>587 Units>587 Units

New Total - 3,255 Units (by New Total - 3,255 Units (by 10/99)10/99)

Community Community FeaturesFeatures

Over the next few slides, Over the next few slides, some community features will some community features will be highlighted. These features be highlighted. These features will be: schools, hospitals, will be: schools, hospitals, shops, and churches. shops, and churches.

A map of local roads will also A map of local roads will also be provided.be provided.

Details on community Details on community features can be accessed by features can be accessed by clicking on the map of a clicking on the map of a community feature.community feature.

Community Features:Community Features:Schools & HospitalsSchools & Hospitals

Click on Community Feature map to view Click on Community Feature map to view details.details.

SchoolsSchools

HospitalsHospitals

Community Features:Community Features:Shops & HospitalsShops & Hospitals

Click on Community Feature map to view Click on Community Feature map to view details.details.

ShopsShops

ChurchesChurches

Community Features:Community Features:RoadsRoads

Left - Major roads Left - Major roads around proposed around proposed apartmentapartment

Below - Interstate Below - Interstate Roads around Roads around proposed apartments proposed apartments (I-95, I-10, I-295)(I-95, I-10, I-295)

The Pros & Cons of the proposed The Pros & Cons of the proposed Creek Side ApartmentCreek Side Apartment

DevelopmentDevelopment

Close to Community Close to Community Features: Schools, Features: Schools, Medial Facilities, Medial Facilities, Shops, and ChurchesShops, and Churches

Good Transportation Good Transportation Network accessNetwork access

Overall population Overall population increasing by 3.9%increasing by 3.9%

New Families is the New Families is the largest demographic largest demographic typetype

Overall renting persons Overall renting persons is decreasing by 2.3% is decreasing by 2.3% within the 2 mile study within the 2 mile study area, and 1.2% in the 6 area, and 1.2% in the 6 mile study areamile study area

Currently the largest Currently the largest Apartment complex in Apartment complex in the 6 mile study area the 6 mile study area has 282-unitshas 282-units

ProsPros ConsCons

ConclusionConclusion

The recommendation by MUB Consulting, Inc. is The recommendation by MUB Consulting, Inc. is that Lofty Apartment Partners, Inc. and Atlantic that Lofty Apartment Partners, Inc. and Atlantic

Savings and Loans should not develop Savings and Loans should not develop Creek Side Creek Side ApartmentsApartments..

Reasoning:Reasoning:

Though the location of the proposed Though the location of the proposed Creek Side ApartmentsCreek Side Apartments has has the correct demographics, the desired community features, good the correct demographics, the desired community features, good access to a transportation network, and the construction cost access to a transportation network, and the construction cost price is reasonable. The concerning issue is that the overall price is reasonable. The concerning issue is that the overall percentage of renters in the surrounding area is decreasing and percentage of renters in the surrounding area is decreasing and that that Creek Side ApartmentsCreek Side Apartments with its proposed 300-units would with its proposed 300-units would then be the largest apartment facility in the area. For this reason then be the largest apartment facility in the area. For this reason MUB Consulting, Inc. believes that MUB Consulting, Inc. believes that Creek Side ApartmentsCreek Side Apartments would would face financial difficulties.face financial difficulties.

The data used for the compilation of this report was:The data used for the compilation of this report was:

US 1990 Census, Comps.Com, F.W. Dodge, and US 1990 Census, Comps.Com, F.W. Dodge, and CensusCD+MapsCensusCD+Maps

g.i.s. for economic geography & business decisions midterm exam project geo 5157 dr. grant...

Documents

mile radius n

mile radius population

mile radius of creek

mile radius rings

mile radius census tract

proposed location n

apartments n fall

map guide n