Envision Tomorrow for Redevelopment Feasibility Analysis
Envision Tomorrow includes tools that help planners assess redevelopment readiness at the city, neighborhood, or site scale. At the city/neighborhood scale, ET features two apps: the Redevelopment Timing App and the Development Feasibility Tool. Both of these tools can help pinpoint parcels that may be ripe for redevelopment today, and those that may be redevelopable in the near, medium and long term. At the site-level, the versatile Prototype Builder spreadsheet allows planners to wear the hat of a developer. the Prototype Builder is a pro-forma on steroids that can model an individual site or grouping of sites while identifying the rents or sales prices, incentives, or land costs required to make projects "pencil."
Prototype Builder / ROI Model
The Prototype Builder is a planner-friendly Return on Investment (ROI) model similar to the models developers use to evaluation the financial feasibility of potential projects. The Prototype Builder is an intergral part of the Envision Tomorrow scenario planning process. The tool is used to create the building library used in scenario painting, but also has significant utility as a stand-alone tool.
Redevelopment Timing App
This app is used to find out which parcels in a given area are candidates for redevelopment in the short-to-medium term. This can help planners identify the parcels or neighborhoods that are ripe for redevelopment and predict which areas may be more suited for redevelopment at some time in the future. It can also help identify whether redevelopment candidates consist of small parcels or large parcels, and whether they are scattered or concentrated.
Development Feasibility Tool
Description coming soon...