14490 full.pdf - Georgia Department of Community Affairs

IV. CONCLUSIONS
A. INTRODUCTION
This study evaluates the market potential of the 132-unit South Albany Village lowincome
housing Tax Credit project for families in Albany, Georgia.
The following analyses have been conducted to identify market potential for the
subject property:
• Analysis of the existing Site Effective Market Area (EMA) rental housing market
supply, including:
• Historical housing trends
• Current market conditions based on 100% field survey of modern apartments
• Area apartment demand factors, including:
• Demand from renter growth based on Georgia Department of Community
Affairs Guidelines
• Current and expected economic and household growth conditions
• Comparable market rent for the proposed property as determined through
regression analysis
• Appropriateness of the subject property for participation in the area HUD Section
8 Certificate/Voucher program
• Appropriateness of the site for the subject development
B. PROJECT DESCRIPTION
This report evaluates the market feasibility of the proposed 132-unit South Albany
Village Apartments property in Albany, Georgia. Specifically, the proposed project
will be located in the downtown portion of Albany at a site bounded by Highland
Avenue, Washington Street, Jackson Street, and Whitney Avenue.
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