A neutral second opinion facilitates your decision-making process. Assessing a project from different perspectives improves the outcome..
The internal construction department is developing a residential project for the revitalization of a mixed-use complex (apartments, conference center, spa facilities nearby). Apartment buildings from the fifties are to be demolished. Families with children used to live there. Today, the apartment layouts are too small and not up to date. With social and ecological demands, row houses in modern wooden construction for families with children were planned as a replacement. These were to be rented out.
The decision-making level has concerns about the weak economic viability. Lichner Projects reviews the concept and prepares a second opinion.
Detailed demographic analysis and on-site research reveal the following picture:
In the relevant market area, there are many single-family homes from the 1970s, most of which are now occupied by single, elderly ladies. These houses with large gardens would be ideally suited to families with children, who prefer ownership to a comparatively high rent.
There is a lack of smaller, comfortable apartments for older people.
Conclusion: The internal point of view "We are building rental apartments for families there again" does not correspond with the current market requirements. It makes sense to offer housing for older people there. They benefit from the proximity to the conference center with its restaurants and spa facilities. With an appropriate offer, they are also willing to give up their much too large single-family homes.
The second opinion with the external view of the expert has shown the right way. Marketability and profitability have improved significantly.