Market Analysis for Land Development

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QrafreJnvs

Business Finance

Harvard University

Description

Doing a project based on the pictures below and need help doing part 2 and 6. Doing a garden style home with cheap luxury looking products.

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Explanation & Answer

Attached.

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Market Analysis for Land Development

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2. Delineating the market
A. Market Area Delineation Concepts

Identification of Demand Sources and Their Location: The primary demand for garden-style
apartments in Bryan-College Station stems from young professionals, graduate students, and
families seeking affordable housing close to Texas A&M University and other major employers.
Some of Bryan's nicest neighborhoods are Briarcrest, Upper Burton Creek, and East Side.
Bryan-College Station real estate is rising with population. Master-planned communities
have increased Bryan-College Station's luxury home inventory, although housing costs are 24%
lower than the national average and 8% lower than Texas's. Bryan real estate is 4% cheaper than
Houston. Home prices in Austin can double. College Station has a lower cost of living than the
national average, but housing is 6% more expensive (Bryan, TX 2023, n.d.).
Area Over Which Equally Desirable Substitute Properties Tend to Compete with the Subject:
The competitive market area for this project encompasses a 5-mile radius around Texas A&M
University, encompassing neighborhoods like Southside Bryan, College Station North, and
South College Station. The Brazos Transit District has hundreds of fast and conventional routes

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throughout Bryan and College Station. Mass transit one-way rides cost roughly $1, free with
student IDs, and ticket books and monthly passes are discounted. (Bryan, TX 2023, n.d.). For
longer excursions, Amtrak goes there. Residents have two air travel options. Coulter Field,
Bryan's airport, is off State Hwy 21 in east Bryan. American Airlines and United Airlines fly to
Easterwood Airport (CLL), owned by Texas A&M University (TAMU).
B. Consumer Profile Concepts
Identification of Characteristics of Most Portable Users: The most portable users in this
market are young professionals and graduate students who are mobile and prioritize amenities
and proximity to their workplaces and educational institutions.


Segmentation of Consumer Groups: The target consumer groups for this project include:



Young Professionals: Single or married individuals with an average income of $50,000 to
$75,000 seeking modern, well-equipped apartments close to their jobs.



Graduate Students: Single or married individuals with an average income of $30,000 to
$50,000, prioritizing affordability, proximity to campus, and access to student amenities.



Families: Young families with an average income of $60,000 to $90,000 see...

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