High Towers and Washington House

Delta Associates provided assistance with evaluating and recommending performance enhancement for two older apartment buildings in Northwest Washington, DC. Primary tasks involved included: survey a cross-section of Class A to Class C high-rise apartment projects in the District to understand the competitive environment; evaluate whether investment in improvements to the properties would increase rents; estimate new rental rates for the subjects; and recommend a repositioning program for the subjects with regard to in-unit and project features, management and marketing.

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Heathergate at Oxford Valley

Delta Associates helped LCOR assess the market for an age-restricted (55+), market-rate, apartment property in Langhorne, Pennsylvania targeting the elderly who are capable of completely independent living. The primary purpose of the assignment was to recommend optimal unit mix, rents, in-unit features, project-based amenities, premiums, and to estimate lease-up pace. The secondary task was to provide information on operating expenses for this type of housing to assist with developing a preliminary operating budget. As a part of the assignment, demographic trends for households age 55+ in the general market area were analyzed.

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Buddington Site at the University of Maryland

Delta Associates was selected by Ambling Development Co. to conduct a student housing market study for an eight-acre site adjacent to the South Campus of the University of Maryland at College Park. Privately developed student apartment projects in the vicinity, as well as off-campus apartment projects that cater to a student population were surveyed. A supply/demand analysis was conducted on student housing and conventional, family-oriented multifamily housing in the area. In addition, the sponsor’s planned development program was considered, with regard to unit sizes and mix, unit and project features and amenities, and rental rates.

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One First Street

Delta Associates undertook a market study of One First Street, a planned 200,000 square foot condominium project in Cambridge, Massachusetts. Primary tasks involved included: understanding the health of the Boston/Cambridge condominium market by surveying condominium projects actively marketing or recently sold out in the Boston/Cambridge area; identify the character and quantity of potential buyers; analyze condominium sale activity and project market scale and demand over the near term, and compare this to existing and planned supply; and recommend a development program with regard to unit mix and size, unit and project features and amenities, estimated unit pricing, and estimated sell-out pace.

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