Unit types and count per acre are often the first questions entering the discussion. We recommend starting with these three steps:
- Review comprehensive market data with your team. We recommend looking at demographics and psychographics to get the best picture of what your market looks like today, and where it might be headed.
- Now it’s time to pick your residents. The research in step one should allow you to develop a persona, who comes with interests hobbies and budget restrictions. Not only will this persona allow you to plan what unit types will accommodate these people, it is also an amazing tool to reach out to them in your marketing and get some early confirmation that the market is on board with your vision.
- Give your vision a PR test-run. Doing something different will stir interest, questions, and sometimes push back. In this step organizing community charrettes, a lot of listening, and getting a few local champions to support your vision will be a good indicator. Only resistance with no local support might be indicative of later hurdles.