A property plan has four main components
1. Rating the city, neighbourhood and actual property
2. Examine all the potential property options
3. Reviewing the financial feasibility of the options
4. Selecting the option that meets the vision and mission of the organization
1) Rating the city, neighbourhood and actual property
I- Is the city a positive location?
II- Is the property in a positive location?
III- Will a new or renovated project blend into the existing neighbourhood?
IV- What are the real estate trends in the community?
V - Is the property large enough for a renovation or development
VI- What is the zoning? Will it have to be changed? Are there any heritage issues?
VII- How large of a project can be constructed?
VIII- City Vacancy Rate
2) Examine all the potential property options