Target Market Analysis. Newaygo Co., MI. Supply-Demand Workbook. Contents: Movership Rates Upper Midwest. July 18, Prepared by: Prepared for:

Transcription

1 Target Market Analysis Newaygo Co., MI Supply-Demand Workbook July 18, 2014 Prepared by: Contents: Movership Rates Upper Midwest Prepared for:

2 Exhibit Q.1

3 Exhibit Q.2

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6 Income Bracket

7 Target Market Analysis Newaygo Co., MI Supply-Demand Workbook July 18, 2014 Prepared by: Contents: Employment by Sector Unemployment Rates Prepared for:

8 Civilian Employment by Industry Sector (Ages 16+) Newaygo and Kent Counties, Michigan Information 1% Agriculture, Forest, Fish, Hunt, Mine 5% Wholesale Trade 2% Transp., Wrhsg., Utilities Public Administration Finance, Insurance, Real Estate Other Services, exc. Public Admin. 3% 5% 5% 6% Kent County Newaygo County Construction Arts,Ent.,Rec.,Accomm.,FoodServ. Profess., Sci., Mngmt., Admin., Waste 6% 7% 7% Retail Trade 11% Educ. Services, Health Care, Soc. Asst. Manufacturing 20% 21% 0% 5% 10% 15% 20% Share of Total Civilian Employment Ages 16+ Source: Underlying data provided by the 2012 American Community Surv analysis and exhibit prepared by LandUse USA; 2014.

9 Civilian Employment by Industry Sector (Ages 16+) Newaygo and Muskegon Counties, Michigan Information 1% Agriculture, Forest, Fish, Hunt, Mine 5% Wholesale Trade 2% Transp., Wrhsg., Utilities 5% Public Administration Finance, Insurance, Real Estate 3% 5% Muskegon County Other Services, exc. Public Admin. 6% Newaygo County Construction Arts,Ent.,Rec.,Accomm.,FoodServ. Profess., Sci., Mngmt., Admin., Waste 6% 7% 7% Retail Trade 11% Educ. Services, Health Care, Soc. Asst. Manufacturing 20% 21% 0% 5% 10% 15% 20% Share of Total Civilian Employment Ages 16+ Source: Underlying data provided by the 2012 American Community Surv analysis and exhibit prepared by LandUse USA; 2014.

10 Civilian Employment by Occupation (Ages 16+) Newaygo, Kent, and Muskegon Counties, Michigan Natural Resources, Const., Maint. 7% 8% 15% Production, Transp., Materials 16% 20% 21% Service Occupations 16% 16% 20% Ken Mu Sales and Office Occupations 26% 24% 22% New Mngmt., Business, Sciences, Arts 25% 28% 35% 0% 5% 10% 15% 20% 25% 30% 35% Share of Total Civilian Employment Ages 16+ Source: Underlying data provided by the 2012 American Community Survey (5-ye exhibit prepared by LandUse USA; 2014.

11 Exhibit R.4

12 Exhibit R.5

13 Exhibit R.6

14 Target Market Analysis Newaygo Co., MI Supply-Demand Workbook July 18, 2014 Prepared by: Contents: Renter-Occupied Units Inventory Prepared for:

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21 Selected Renter-Occupied, Attached Housing Units The City of Fremont, Michigan (west half) Data use subject to license. TN 0 20 Source: DeLorme. XMap Field 7. inventories prepared by LandUse USA; Underlying map provided b MN (5.5 W) 1 0

22 Selected Renter-Occupied, Attached Housing Units The City of Fremont, Michigan (east half) Data use subject to license. TN 0 20 Source: DeLorme. XMap Field 7. inventories prepared by LandUse USA; Underlying map provided b MN (5.5 W) 0 1

23 Selected Owner-Occupied, Attached Housing Units The City of Newaygo, Michigan Data use subject to license. TN 0 20 Source: DeLorme. XMap Field 7. inventories prepared by LandUse USA; MN (5.6 W) Underlying map provided by 1 0

24 Selected Renter-Occupied, Attached Housing Units The Village of Hesperia, Michigan Data use subject to license. TN 0 20 Source: DeLorme. XMap Field 7. inventories prepared by LandUse USA; MN (5.4 W) Underlying map provided by 1 0

25 Selected Renter-Occupied, Attached Housing Units The City of White Cloud, Michigan Data use subject to license. TN 0 20 Source: DeLorme. XMap Field 7. inventories prepared by LandUse USA; Underlying map provided b MN (5.6 W) 0 1

26 Selected Renter-Occupied, Attached Housing Units The City of Grant, Michigan Data use subject to license. TN 0 20 Source: DeLorme. XMap Field 7. inventories prepared by LandUse USA; Underlying map provided b MN (5.6 W) 1 0

27 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 1 Deerfield Apartments Meadow Hills Lane Fremont, MI , Wedgewood Apartments Meadow Hills Lane #21 Fremont, MI Heat and Water Included 3 Meadow Hills Apts Meadow Hills Lane Fremont, MI Heat and Water Included 4 Peachtree Village Apartments State Street Fremont, MI Heat and Water Included

28 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 5 Apple Ridge Apartments DeWitt Avenue renovated Fremont, MI Heat, Water, and Trash Included 6 Oak Creek Apartments West Main Street renovated Fremont, MI Heat, Water, and Trash Included 7 Greenfield Manor Senior Apartments DeWitt Avenue renovated Fremont, MI Heat, Water, and Trash Included 8 Fremont Townhouses State Street Fremont, MI

29 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 9 10 S. Division Street Fremont, MI , 2, 3 & 25 E. Main Street Fremont, MI Fremont High School E. Main Street 1 1 Fremont, MI Locust Hill Apartments State Street Fremont, MI Hills Mobile Home Park Lake Drive Fremont, MI

30 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 14 Daisy Brook Apartments Darling Avenue Fremont, MI Southwoods Senior Housing Southwoods Avenue Fremont, MI West Main Street 6 Fremont, MI North Darling Apartments N Darling Avenue Fremont, MI State Street Apartments/Duer Rentals State Street Fremont, MI

31 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 19 Stoney Road Pillars N Stone Road Fremont, MI Heat Included 20 Grant Community Senior Citizens Housing North Lake Street, # Grant, MI Gas, Heat and Water Included 21 Whispering Hills Apartments N. Lake Street Grant, MI Heat and Water Included 22 Dwelling Zone Endeavor Blvd 2 1 Grant, MI

32 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 23 Lakeview Apartments North Lake Street 2 1 Grant, MI Water Included 24 Duplex S. Hall Street Grant, MI Fountain View Village sha 50 S Maple Street 0 1 priv Grant, MI White River Estates South Winter Street Hesperia, MI Water Included

33 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 26 Silverwood Manor Senior Apartments Town Place Court Hesperia, MI Town Place Apartments Town Place Court Hesperia, MI Gas, Heat, and Water Included 28 The River AFC W Michigan Avenue Hesperia, MI A New Beginning Hawley Street Hesperia, MI Meals/Laundry Included

34 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 30 Pine Lake Village Apts. & Townhouses West Pine Lake Drive Newaygo, MI Water and Trash Included 31 Woodview Apartments West Brooks Street Newaygo, MI Gas, Heat and Water Included 32 Wildwood North Senior Apartments West Barton Street 2 1 Newaygo, MI Gas, Heat, and Water Included 33 Edgeview Apartments East 82nd Street Newaygo, MI

35 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 34 Autumn Grove Apartments West Brooks Street Newaygo, MI Gas, Heat and Water Included 35 M-37 Motel Mason Drive 2 1 Newaygo, MI Weekly rates 36 Downtown Newaygo 18 Newaygo, MI Upper Floor Apartments With MSHDA Grants, Brookhaven Estates Mobile Home Park South Division Street Newaygo, MI

36 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 38 Four - plex 163 State Road Newaygo, MI Upper Floor Apartments State Road 2 1 Newaygo, MI Upper Floor Apartments 56 State Road Newaygo, MI Woodridge Apartments North Lester Street 2 1 White Cloud, MI

37 Field Inventory of Multifamily Housing with 2014 Rent Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name, Address, and Phone Number HCV =1 Seni ors =1 Min. Mo. in Lease Year Open # Units BR BA Estim Sq. (Ran 42 Sand Hill Apartments North Lester Street 2 1 White Cloud, MI , only or disabled of any age Heat and Water Included 43 White Cloud Meadows Apartments North Lester Street 2 1 White Cloud, MI , Heat, Water, Trash, and Sewer Included 44 Duplex E Wilcox Avenue White Cloud, MI Johnny's Motel 644 S Evergreen Drive White Cloud, MI Weekly Rentals and Homeless Solutions

38 Target Market Analysis Newaygo Co., MI Supply-Demand Workbook July 18, 2014 Prepared by: Contents: Owner-Occupied Units Inventory Prepared for:

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42 Selected Owner-Occupied, Attached Housing Units The City of Fremont, Michigan Data use subject to license. TN 0 Source: DeLorme. XMap Field 7. inventories prepared by LandUse USA; Underlying map provided b MN (5.5 W) 1 0

43 Field Inventory of Condo and Mobile Home Housing with 2014 Sale Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name Year Built Total Units Units Avail BR BA Sq. Ft. 1 Garten Haus Meister Lane East Vienna Lane Fremont, MI Main Street Duplex E. Main Street Fremont, MI Hillcrest Estates, Condos , 442 Mary Lane Fremont, MI Hills Mobile Home Park Lake Drive Fremont MI (231) Meadowview Village Mobile Home Park Blazing Star Dr Fremont, MI (231)

44 Field Inventory of Condo and Mobile Home Housing with 2014 Sale Forecasts The Cities of Fremont, Grant, Newaygo, White Cloud and Village of Hesperia, Michigan # Name Year Built Total Units Units Avail BR BA Sq. Ft. 6 Country View Estates Mobile Home Park Market Street Fremont, MI (231) Rob-Ann Mobile Home Court Locust Street Fremont MI (231) Meadow Hills Rowhouse Condos Meadow Hills Lane Fremont, MI Churchill Estates Divina Dr Grant, MI Evergreen Village Mobile Home Park N Smith St Hesperia, MI Top Floor Apartment/Mixed Use 1 4, State Rd Newaygo, MI 49337