Performed a Capital Needs Assessment for the Circle Brooke Manor development in Cowen, West Virginia in support of a Mark-to-Market Transition Plan.
The American Apartment Management Company asked Colden & Associates to perform an independent assessment of the development as a basis for an appeal of the needs assessment that had been performed by a HUD contractor. The needs assessment identified conditions that warranted an increased funding requirement than that identified by the HUD contractor. It also predicted the capital requirements of all systems for a 20 year planning horizon.
The Capital Needs Assessment used a life expectancy costing model to forecast timing of anticipated capital improvements. The assessment also presented a strategy for funding a capital reserve to meet the anticipated capital requirements.
Contributor: Damian Colden
Client: American Apartment Management Company