Harlem Development Project
Essay title: Harlem Development Project
THE HARLEM
RENAISSANCE CENTER
A RETAIL DEVELOPMENT PROJECT
Market Feasibility and Analysis
By: G. W.-L.
TABLE OF CONTENTS
SECTION
PAGE
I. Nature Of Assignment
II. Letter Of Transmittal
III. Market History/Report
Area And Regional Market Trends
Executive Summary
IV. New York City Market Overview
V. Harlem – Neighborhood Overview
Neighborhood Description
Area Map
Land Use
Population
Employment And Income
Owner Vs. Renter Occupied Housing Units
Education
Transportation
VI. Groups Contributing To The Revitalization Of Harlem
VII. Existing And Competing Real Estate Harlem Developments
VIII. General Overview Of Similar Properties
Direct Competitors
Customer Sources
IX. Proposed Project
Project Site
Proposed Site Lot Map
Proposed Site Aerial View
X. Zoning
Commercial Districts
C4 Districts
Current Zoning Map (6a)
XI. Highest And Best Use – Evaluation Of Current Property Usage
XII. Site Perspective
Visibility
Access (Pedestrian, Vehicular & Service) & Parking
Air Rights / Height Restrictions
XIII. Proposed Business Model
XIV. Construction Financing, Permanent Financing And Operational Pro-Forma
XV. Site Plan (Including Proposed Tenant Make-Up)
XVI. Square Footage Plan
XVII. Legal Description Of The Premises
XVIII. Linkages
XIX. Marketing
XX. Property Images
I. NATURE OF ASSIGNMENT:
The following assignment is a market and feasibility analysis for a proposed retail shopping center to be located in central Harlem, in New York City, New York. This particular assignment assumes that this analysis is being prepared by a developer in order to present it to potential investors or potential lenders.
The proposed project is the construction of a “big box” retail shopping center to be occupied by at least four national retailers, each specializing on the sale of different “life products”, servicing the Harlem neighborhood of New York City. We define “life products” as goods, which service consumers’ basic needs (i.e. shelter, clothing, food, education, entertainment, etc.). The proposed project is to be located on the eastern two thirds of the block bounded by 125th street, Lenox Avenue, 124th Street and 7th Avenue.
Construction of the project will require the purchase and demolition of several small contiguous