What’s a feasibility study, and why do you need one? Based on the location and zoning of a proposed build, a feasibility study provides major value in a minimal amount of time.
Property owners and developers need this to determine the best use, maximum floor area, maximum building size and best distribution of uses in a building to maximize returns.
Approvall’s NYC feasibility study also looks to utilize bonuses to gain larger building permits than would normally be available via zoning regulations.
A good feasibility study will also serve as evidence to eliminate low yield and problematic projects from going any further. The potential cost savings alone from putting the brakes on a project that would turn into a money pit makes the study worthwhile.
Potential pitfalls that are exposed in Approvall’s feasibility study include zoning district, lot size, parking regulations, allowable uses, max building size permitted, max apartments allowed, environmental restrictions and requirements from DEP, existing restrictions, proximity to MTA facilities, jurisdiction of city agencies, and potential cost of construction.
Feasibility studies can be completed in as little as two days depending on the complexity of the proposed site.
Benefits of Approvall’s signature feasibility study service include:
Fast zoning analysis - NYC area specialists
Reduction in city agencies approval and permit times - we get the job done fast
Seamlessly identify costly restrictions - save time and money
Eliminate low yield and problematic projects - we can help you decide
Anticipated project start and completion dates - leverage our experience
Going above and beyond is what we’re known for. Approvall will evaluate not only the physical site conditions and restrictions permitted by zoning, but also the building code, environmental conditions, and other city agency restrictions.
We also look at the community as a whole to provide guidance on the highest returns for the developer based on current trends and area demand.
Approvall offers a wealth of knowledge and experience in design, approval processes, construction techniques and methods, inspection and sign off requirements all to quickly identify the most profitable least path of resistance. In other words, we exist to identify the most profitable path to constructing a building for the developer.
What do we need from you to get started?
Ideally we'd like the site address, site survey, deed restrictions, environmental restrictions, city agencies with jurisdiction, anticipated project start and completion dates. Of course if you are having trouble tracking down any of the above we're more than happy.