Workforce
Apartment
Feasibility Study
Wert-Berater, Inc. specializes in providing expert and reliable feasibility studies for
Workforce Apartment projects.
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Workforce Apartment Feasibility Studies
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Our team of experienced professionals evaluates all aspects of the project to ensure its success – from project inception to construction and operations planning.
Choose us to help you make informed decisions for your Workforce Apartment project.
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Book a meeting to interview us, ask questions and view samples of our work.
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Because of client project confidentiality, unfortunately we do not email samples to customers - Client Confidentiality is Sacred.
Workforce Apartment
Feasibility Study
At Wert-Berater, Inc., we are experts in Workforce Apartment feasibility studies, providing essential information to those seeking commercial loans.
Workforce housing refers to residential units that are affordable for middle-income workers—typically those earning between 60% and 120% of the area median income (AMI).
This group often includes essential workers such as teachers, nurses, police officers, firefighters, and service industry employees who earn too much to qualify for traditional affordable housing programs but not enough to afford market-rate housing in many urban areas.
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See our Experience Page for recent Apartment Feasibility Studies completed around the nation.
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FAQs
How do we do it?
Workforce Apartment Feasibility Studies are carried out by a careful evaluation as presented in the following Workforce Apartment Feasibility Statement of Work which complies with loan underwriting requirements.
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We subscribe to reliable sources of data that are accepted by loan underwriters.
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Will my Apartment feasibility study be accepted by my lender?
We are approved by a vast network of Lenders, and Commercial Banks. Prior to ordering your Apartment feasibility study, if your lender in not on our list, we are pleased to provide our feasibility study consultant credentials including E&O Insurance, Sample Apartment Feasibility Studies, references, and our resumes.
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How much does a Workforce Apartment Feasibility Study cost?
Depending on the complexity of the project and the time needed to have a completed Workforce Apartment feasibility study ready, the cost varies from about $5,000 to $10,000.
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How much time is needed for us to complete and deliver your Workforce Apartment feasibility study?
This depends on our workload when you order your Apartment feasibility study.
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RUSH orders cost extra, but can be completed in as little as 7-business days, providing you have the necessary items provided to us at engagement.
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Generally, Workforce Apartment feasibility studies are completed in about 15 to 20 business days.
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What items do I need to provide to have a Workforce Apartment Feasibility Study completed?
Our Workforce Apartment feasibility studies are comprehensive and intended for loan underwriting purposes.
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We normally request the following items when you engage us for a Workforce Apartment feasibility study:
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Parcel number(s)
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Land cost
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Site plan
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Building renderings
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Unit Mixture including floor plans and SF sizes of units
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Project cost breakdown
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Land cost and when purchased or is it under contract
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Resumes for all owners with 20% or more interest
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Loan terms applied for including, interest rate and amortization
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Copy of your business plan including your projections
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Any appraisals
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Any environmental reports (if a purchase, continuance or reposition project, all Phase I or Phase II Environmental assessments
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If your lender has provided a Term Sheet, we would like to have a copy
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Other items you deem important
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Lender contact details
Workforce Apartment Feasibility Study
Statement of Work
1
Executive Summary
Workforce Apartment Feasibility Studies are designed to comply with commercial loan application requirements.
The Executive Summary includes the following items:
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Project summary concerning the planned improvements details and location
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Loan request details
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Project cost summary
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Conclusions and Recommendations
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Economic Feasibility
Workforce Apartment Feasibility Study site analysis is a critical component of the project whether its of new construction, expansion or a repositioning project, a compete site analysis is completed summarized as follows:
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Information regarding project site including:
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Land area
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Site locator maps
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Zoning
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Flood zone
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Access and Road Service to the Site
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Utilities availability
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Availability of infrastructure
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Visibility
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Traffic counts
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Neighborhood analysis
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Radius Demographics
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Median Income Data
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Job Growth
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Housing Demand Analysis forecast for 10-years
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Site analysis summary
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Conclusions
3
Market Feasibility
The market feasibility section for a Workforce Apartment feasibility study includes the following items:
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National industry overview
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Local competitive analysis including existing, in-planning and under construction competitors
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Asking and Effective Lease rates and rate growth rates
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Unit absorption rates
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Market Vacancy trends
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Gross revenue estimates, including seasonality
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Conclusions
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Technical Feasibility
The technical feasibility study section for a Workforce Apartment feasibility study includes the following items:
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Suitability of the selected site for the intended use including an environmental impact analysis
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Development and construction cost estimates
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Commercial Replication risks
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Regulation and Governmental Action
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Conclusions
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5
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Financial Feasibility
Financial Feasibility
The financial feasibility study section for a Workforce Apartment feasibility study includes the following items:
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Pro Forma Assumptions
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Market Rents
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Vacancies
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Absorption
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Pro forma (10 years)
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Lease Up Analysis
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Discounted Cash Flow Analysis (DCF)
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Internal Rate of Return (IRR) Analysis 3-, 5-, 7-, and 10-year hold
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Debt Service Coverage Ratio (DSCR)
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Sensitivity Analysis
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Breakeven Analysis
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Conclusions
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Management Feasibility
The Workforce Apartment feasibility management feasibility includes:
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Summary of your experience and education, training for all owners with a 20% interest or more
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Ownership interest summary
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Availability of short-term credit
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Tax issues
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Company organizational chart
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Type of legal entity and information concerning its formation
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Conclusions
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Why choose Wert-Berater, Inc. for your Apartment Feasibility Study and what sets Wert-Berater, Inc. from their competitors?
We are a small and focused firm that specializes in feasibility studies since 1998 having over 25-years of experience.
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We are lender underwriting report focused, thereby your lender will be provided with the appropriate third party assessment of your project.
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We understand the loan underwriting process.
Over the decades, feedback from lenders has helped shape our Apartment feasibility studies to comply with underwriting demands.
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Moreover, we have experience in a wide array of markets and apartment types.
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We also evaluate competitor operating costs and refer to information provided by Reis, Inc., CoStar Group and Moody's Analytics.
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We also subscribe to platforms such as RMA (Risk Management Association), ArcGIS Business Analyst, and Dun & Bradstreet which provides us with localized competitor financial data.
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Our Apartment feasibility studies are bankable feasibility studies mostly used for to support loan applications.
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