G.I.S. for Economic Geography & Business Decisions Midterm Exam Project GEO 5157 Dr. Grant Thrall Edward Borden

Creek Side Apartments a Lofty Apartment Partners Development Location Analysis by MUB Consulting, Inc. for Lofty Apartment Partners, Inc and Atlantic Savings and Loans © 2000 MUB Consulting, All Rights Reserved

Scenario This location analysis report was preformed for Lofty Apartment Partners, Inc. and for Atlantic Savings and Loans. The location analysis was done on the proposed Creek Side Apartments facility in Jacksonville, FL. This report is to provide both L.A.P., Inc and Atlantic S & L will localized data, and projected data on the proposed site location.

The Question Creek Side Apartments - Specifics 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 Side Apartments Complex meet these requirements?

General Location Information n Florida n Jacksonville n Duval County n St. Johns River n Coordinates –(x) –(Y) N

Map Guide n In this project there will be a series of maps - these maps are broken down into three zones: –2 Mile Radius –4 Mile Radius –6 Mile Radius Census Tract #0164

Detailed Linked Data n Fall within the 2 Mile Radius of Creek Side Apartments n Fall between the 2 and 4 Mile Radius of Creek Side Apartments n Fall between the 4 and 6 Mile Radius of Creek Side Apartments Color -Code Key

Demographic Information About the Proposed Location n 2 Mile Radius 2 Mile Radius 2 Mile Radius n 4 Mile Radius 4 Mile Radius 4 Mile Radius n 6 Mile Radius 6 Mile Radius 6 Mile Radius This slide provides links to demographic snapshots within each zone. Click on the mile radius rings to view the demographic data around the proposed site. This data snapshot was created with CensusCD+Maps

n 2 Mile Radius –Population 19,202 –17.3% of the population is between years old –42.4% of renters pay $300 - $499 in monthly rent –15.3% of the population has an income of $25K - $35k annually Highlighted Demographic Information (all percentages are the largest in their field per capita) n 4 Mile Radius –Population 86,572 –19% of the population is between years old –54.6% of renters pay $300 - $499 in monthly rent –16.9% of the population has an income of $35K - $45k annually n 2 Mile Radius –Population 241,954 –19.3% of the population is between years old –49% of renters pay $300 - $499 in monthly rent –20.1% of the population has an income of $15K - $25k annually

Projections About the Proposed Location n 2 Mile Radius 2 Mile Radius 2 Mile Radius n 4 Mile Radius 4 Mile Radius 4 Mile Radius n 6 Mile Radius 6 Mile Radius 6 Mile Radius This slide provides links to projections within each zone. Click on the mile radius rings to view the projected data around the proposed site. This data snapshot was created with CensusCD+Maps

Highlighted Projections Information n 2 Mile Radius –Population increase by 3.9% –Housing Units increase by 3.5% n Owner Occupied increase by 3.4% n Renter Occupied decrease by 2.3% All projections are a percentage of increase & decrease from n 4 Mile Radius –Population increase by 3.9% –Housing Units increase by 3.5% n Owner Occupied increase by 3.5% n Renter Occupied decrease by 1% n 6 Mile Radius –Population increase by 3.9% –Housing Units increase by 3.5% n Owner Occupied increase by 3.5% n Renter Occupied decrease by 1.2%

Some Interesting Points about the 2002 Projections n Within the entire 6 Mile study area the total population will increase 3.9%, to 271,396 people. n While the total housing supply will only increase to 3.5%, and renting properties will decrease by 1.2%

Population Expenditure Information About the Proposed Location n 2 Mile Radius 2 Mile Radius 2 Mile Radius n 4 Mile Radius 4 Mile Radius 4 Mile Radius n 6 Mile Radius 6 Mile Radius 6 Mile Radius This slide provides links to population expenditure information within each zone. Click on the mile radius rings to view the population expenditure data around the proposed site. This data snapshot was created with CensusCD+Maps

n 2 Mile Radius –Total Housing increase by 33.7% n Shelter increase by 55.4% –Total Food increase by 14.3% n Eating at Home increase by 8.7% –Total Transportation increase by 18.9% n Vehicle Purchases increase by 8.6% n 4 Mile Radius –Total Housing increase by 34.4% n Shelter increase by 19.7% –Total Food increase by 14.4% n Eating at Home increase by 8.7% –Total Transportation increase by 19% n Vehicle Purchases increase by 8.9% n 6 Mile Radius –Total Housing increase by 34.4% n Shelter increase by 19.7% –Total Food increase by 14.5% n Eating at Home increase by 8.9% –Total Transportation increase by 19.1% n Vehicle Purchases increase by 9% All projections are a percentage of increase from Highlighted Population Expenditure Information

n 33% - Newly Formed Households n 21% - Military Proximity n 17% - Active Senior Singles n 13% - Baby Boomers With Children n 4% - Prosperous Older Couples, Retirement Communities, Small Town Working Families, Social Security Dependents, Twenty- Something Types of People in Neighborhood which are leasing Apartments

Current Supply of Apartment Facilities n In this map the yellow dots re- present apartment facilities which currently exist. n Click on the map to see a detailed table of these apartment facilities.

n Total Amount of Units –2 Mile Radius n > 137 Units –4 Mile Radius n > 2,299 –6 Mile Radius n > 535 n Total Number of Units - more than 2,971 n Total Squarefeet - 8,491,407 n Average Cost - $3,155,448 n Average Age -30 years n Average Acreage Acres Highlighted Information About the Current Supply of Apartment Facilities

Future Supply of Apartment Facilities n In this map the purple dots re- present apartment facilities which will exist in the future. n Click on the map to see a detailed table of these apartment facilities.

n Total Amount of Units which are going to be built: –2 Mile n 0 -Units –4 Mile n 32 - Units –6 Mile n 52 -Units Highlighted Information About the Future Supply of Apartment Facilities All units are to be completes by October 1999 New Unit Total by zone: 2 Miles 2 Miles > 137 Units> 137 Units 4Miles 4Miles > 2,531 Units> 2,531 Units 6Miles 6Miles >587 Units>587 Units New Total - 3,255 Units (by 10/99)

Community Features Over the next few slides, some community features will be highlighted. These features will be: schools, hospitals, shops, and churches. A map of local roads will also be provided. Details on community features can be accessed by clicking on the map of a community feature.

Community Features: Schools & Hospitals Click on Community Feature map to view details. Schools Hospitals

Community Features: Shops & Hospitals Click on Community Feature map to view details. Shops Churches

Community Features: Roads Left - Major roads around proposed apartment Below - Interstate Roads around proposed apartments (I-95, I-10, I-295)

The Pros & Cons of the proposed Creek Side Apartment Development n Close to Community Features: Schools, Medial Facilities, Shops, and Churches n Good Transportation Network access n Overall population increasing by 3.9% n New Families is the largest demographic type n Overall renting persons is decreasing by 2.3% within the 2 mile study area, and 1.2% in the 6 mile study area n Currently the largest Apartment complex in the 6 mile study area has 282-units Pros Cons

Conclusion The recommendation by MUB Consulting, Inc. is that Lofty Apartment Partners, Inc. and Atlantic Savings and Loans should not develop Creek Side Apartments. Reasoning: Though the location of the proposed Creek Side Apartments has the correct demographics, the desired community features, good access to a transportation network, and the construction cost price is reasonable. The concerning issue is that the overall percentage of renters in the surrounding area is decreasing and that Creek Side Apartments with its proposed 300-units would then be the largest apartment facility in the area. For this reason MUB Consulting, Inc. believes that Creek Side Apartments would face financial difficulties.

The data used for the compilation of this report was: US 1990 Census, Comps.Com, F.W. Dodge, and CensusCD+Maps