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Novogradac & Company to Conduct Housing
Market Study
AUBURN, N.Y. -- Novogradac & Company has been retained by the City of Auburn to
perform an analysis of its housing market. The process was announced and initial
research begun at a kick-off meeting on June 8, 2006. The housing market study,
conducted by the firm's Market Research Group, will provide city officials with a
foundation and rationale for allocating housing and neighborhood revitalization funds.
As part of the agreement, Novogradac& Company LLP will provide an analysis of the Auburn housing market, including current and future forecast demand and supply. This forecast is a critical element when developing a strategic housing and neighborhood
revitalization plan.
Novogradac will undertake the following items - all within the scope of work in the housing market study:
- A demand overview of housing market trends, including owner and renter
preferences, urban vs. suburban neighborhoods, and potential demand for a
condominium market.
- An analysis of the current housing supply.
- City and regional demographic trends over the next five years.
- A definition of market absorption for new housing over the next five years.
- A review and identification of price points for owner and rental occupied housing.
- Digital maps illustrating single-family housing trends across the city.
- Digital maps illustrating current residential market sales.
- A profile of residents and demographic trends to indicate housing preferences.
- Other analyses as required.
The Housing Market Analysis is expected to be completed over the next four months. Novogradac & Company LLP is a nationally certified public accounting and consulting firm that specializes in affordable housing, and community and economic development.The firm has the capabilities and capacity to provide consulting services in a manner tailored to meet the specific needs of the City of Auburn Office of Planning & Economic Development (OPED). Established in 1989, the firm maintains its headquarters in San Francisco, California and employs approximately 250 employees nationwide. Novogradac & Company LLP has additional offices in Long Beach, Calif.; Metro Washington D.C., Kansas City, and Atlanta, Ga.; Dover, Ohio; Austin, Texas; and Boston, Mass. The headquarters of the Market Research Group is in the Washington, D.C. metro office.
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