Our charge, as the Residential Development Group, is to assist Corinthian Housing Development Corporation in determining the best residential development mix for future Corinthian developments. Residential development mix is a broad category comprising of the types of housing units planned by Corinthian as well as the identification of resident groups. The determination of best development mix must be defined within the parameters of our client’s mission. Corinthian’s primary mission is "to help improve the living conditions of residents of Newark" by aiding the "economic, social, and physical rebirth of the Central Ward and to participate in rebuilding the city’s various infrastructures." (Corinthian, n.d.) Corinthian is a housing developer, but, as a church-based community development corporation, its goals are more than that of a typical developer. Profit and community needs become paramount. To determine the best residential development mix for Corinthian four research questions were determined in consultation with the client. These four questions were raised because they illustrate the market conditions within which Corinthian operates and also illustrates the preferences of individuals which make up Corinthian’s market. First, what is the region-wide housing demand? Second, what are the property characteristics of the Corinthian target area? Third, what do current Corinthian Homes residents have to say about their housing? Fourth, what are Corinthian Homes’ most attractive characteristics?
To answer our four research questions this report is divided into four sections. The housing problem gives a brief overview of city-wide housing demands. This section is based largely on HUD’s 1995 Consolidated Plan for Newark. The purpose of this section is to determine the extent of the demand for future Corinthian housing. The second section highlights the results of our vacant lot and ownership study of parcels in the Corinthian study area. Based on City of Newark Tax Assessor information ownership information highlights tenure status of each parcel in the study area. The third section discusses the results of our survey of current Corinthian Homes residents. The purpose of this section is to determine resident satisfaction with their homes, and should help guide future development. The fourth section offers the results of our survey of individuals on Corinthian’s waiting list, individuals who want to live in a Corinthian development. This information will determine Corinthian’s greatest assets.
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