Market Analysis and Housing Projections of the Bristol, VA Redevelopment and Housing Authority Properties and Surrounding Area

Bristol Redevelopment and Housing Authority

As a part of a consultant team, BAE conducted the market analysis for the development of the Bristol Redevelopment and Housing Authority’s (“BRHA”) updated master plan.

While there has been an overall decline in population in Bristol, VA that is projected to continue in coming years, there is a large and growing senior population, which may point to demand for senior housing. Further, the relatively large number of Bristol residents working in health care and social assistance combined with the growing senior population, could potentially support the creation of a new health care facility as part of a senior residential development.

BAE evaluated the current physical condition and financial performance of the Authority’s public housing and other affordable housing units and analyzed the past, current, and future markets for the Authority’s public housing and other affordable housing units.

BAE also developed a roadmap in the form of a Housing Asset Repositioning Plan that considers the most appropriate use of each housing site to enable BRHA to move proactively toward a new future for its public housing and other affordable housing units.

Finally, BAE developed a marketing strategy to help reposition the BRHA’s properties and attract a broader mix of households and income levels within the specified range of affordability.

A variety of data sources were used in the analysis, such the US Census Bureau, ESRi and HUD, including proprietary data sources such as CoStar and CoreLogic.