GENEVA SINKULA
MARKET ANALYSIS DETROIT, MICHIGAN
CONTENTS
03 STUDIO BRIEF
04 PROJECT DESCRIPTION
05 STATISTICS
10 HOUSING COMPS
12 FINANCIAL HIGHLIGHTS
14 RECOMMENDATION
GENEVA SINKULA
STUDIO BRIEF
Real Estate precedes architecture. The constraints of land or rather its site sets forth a formal vocabulary contingent upon dictums many architects fail to grasp. Indeed, the architectural act has already taken shape in advance of the architect's arrival. The buildings height, width, length, number of stories, and in some cases material specificity is predetermined. Suffice to say zoning exists, and exerts itself profoundly upon architecture. While this is bad news for the architect opportunities exist with a less desfensive posture. Instead of proposing a design only to be rejected by zoning administration officials, we will explore irreducible strangeness, awkwardness, and indifference generated by dutifully following (albeit, pushing) the rules within an overly constrained site. As designers, we will consider the invisible formal, material and immaterial reality of a zone. ,
MARC MAXEY ARCHITECTURE PROFESSOR
DETROIT MICHIGAN
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PROJECT DESCRIPTION
With that being said, my project complies with the 3/5th rule of compatibility for the neighborhood, but only in the loosest of sense.
"In the urban context, we can identify the singularly crafted building. Yet, the activity of the medium of infrastructural matrix, what it is doing rather than what it is saying, is sometimes difficult to detect.."
"It was in this city that the American Dream was born, where the singlefamily home with a garage and front lawn was the norm rather than the exception.."
Keller Easterling writes about the difference of declared content versus the undeclared content within architecture. My project puts me in the position of a content manager of sorts, showing the neighborhood, HOA, and zoning commissions that what you see in the street view does not touch the surface of what is lying below physically or figuratively speaking. Zoning has set guidelines to determine what a house can be. Historic preservation rules also apply in that no new build construction can mimic an older style, confusing the the historic with the copy. DETROIT MICHIGAN
My space specializes in updating the platform of domesticity. From the exterior, the plans, elevations, and site maps it is a house. However, It acts as a software, constantly being updated with new tenants/owners. My project was meant to be for anyone. It can support many dynamics that this neighborhood may not have already seen due to the formal operations done by previous architects. PAGE 04
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Detroit zoning maps, which designate
79% of the approximately
290 miles of commerical zoned streets are true to the original city zoning ordinance of 1940.
DETROIT MICHIGAN
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900 HOMES Most homes were constructed between 1905 and 1925 and range in size from modest two-story vernaculars to impressive mansions. Early residents of Boston-Edison included Henry Ford, James Couzens, Horace Rackham, Sebastian Kresge, and Joe Louis.
35% The Boston-Edison Historic District has been designated a Neighborhood Enterprise Zone Homestead area. Under the Neighborhood Enterprise Zone plan, residents who have moved into the Boston-Edison Historic District after December 31, 1997, may be eligible for a Homestead Exemption which will reduce property taxes up to 35%.
DETROIT MICHIGAN
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GENEVA SINKULA
Detroit, Michigan metro area's housing affordability versus Michigan as a whole.
Affordable versus elast affordable states in terms of residential real estate. .
DETROIT MICHIGAN
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2017 DATA
47 Y.0. $70,874 On average, home sellers in the Detroit metro area are 47 years old.
39 Y.0. On average, home buyers in the Detroit metro area are 39 years old.
DETROIT MICHIGAN
These home sellers have a median household income of $70,874.
$77,566 These home buyers have a median household income of $77,566.
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2017 DATA
Age
Race/Ethnicity
75.4% 17.5% 4.3% 4.2% White
African American
Asian
Hispanic
Income
DETROIT MICHIGAN
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THE COMPARISONS Homes within the Boston Edison Historic District range from $150,000 to 3.25 million for houses currently being listed today. Square footage goes from 2,000 to 20,000 within two blocks. Houses are available in all areas of the historic district, in all sizes and styles, and in a wide range of prices. Some houses are in move-in condition. Others need owners committed to renovating them and bringing them up to their potential.
DETROIT MICHIGAN
The Historic Boston-Edison District has many opportunities for new residents in all income brackets. Each home is unique. Homes are constructed of natural materials, with superior craftmanship and beautiful detailing inside and out. Features such as gothic statuary, tile roofs and elaborate landscaping are a testament to the gradeur of the times in which they were constructed.
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DETROIT, MICHIGAN
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1489 LONGFELLOW FINANCIAL HIGHLIGHTS - According to Zillow, the land aquisition cost of 1489 Longfellow is $6,000 for just the half lot. - Four bedrooms is the standard for houses on full lots adjacent to the new construction half lot. - This project contains 3 bedrooms . - New construction for residential housing in 2018 was the highest recorded in Michigan. - The average cost per square feet in Michigan to build a house is $116. - Throughout the state, the hard costs per square foot is in the range of $90 to $150 with labor cost added.
- An architect can cost anywhere from $60 to $150 an hour on average. - An engineer can cost $100 - $150 an hour on average in Detroit.
The market price for this project will be approximately $500,000 or more. - Net price of residential development will range from $76,700 - $172,648 - Amount of variances required by city to construct project: 0.
- In 2019, 18,846 permits where pulled for single family houses. - According to historic average, 1 permit equates to two new jobs. Detroit is currently in the need of more permits .
- With that being said, this project has 2,822 sq ft. Making the house approximately $327,352 - $423,300.
- Percentage of married people in Detroit that own a home is 72.9% versus renting who represent 27.1% of the population.
- It doesn’t take into account soft costs like high-end finishes and landscaping, and designers.
- Non family living situations make up 40% of the people who own homes in Detroit and 60% of renters.
DETROIT MICHIGAN
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RECOMMENDATION The comparisons in the neighborhood suggest that there is a strong community supporting the rehabilitation and revitalization of the Boston Edison District. Homes are beyond repair or multimillion dollar mansions, and everything in between. Not only is the location desirable, there are tax incentives to living in such an area. With statistics in mind, a large profit could be made for such a small lot size in one of the most desirable neighborhoods in Detroit. With the genetic makeup of the area constantly undergoing change, this project can offer a new housing structure that the neighborhood hasn't had before. With all that being said, this development is predicted to have a successful return. Additionally, it could offer a solution to these outlander lots within Detroit. One downside of the division of these lots is that there are not one but two to sell and develop. Often times, they sit vacant for years. This project could be an eyeopener for home builders seeking new opportunities in prime areas within Detroit.
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ACKNOWLEDGEMENTS https://learn.roofstock.com/blog/topic/ markets https://www.nar.realtor/research-andstatistics/housing-statistics/housingshortage-tracker https://www.nar.realtor/sites/default/file s/documents/local-market-reports-q42019-mi-detroit-04-21-2020.pdf https://www.google.com/maps/d/u/0/vi ewer? mid=1L5MRB2yTRh8OEN4QHRJG2TLG_f mTkuE6&ll=46.31441041081838%2C112.51412534999997&z=4
DETROIT, MICHIGAN
https://www.nar.realtor/research-andstatistics/housing-statistics/state-andmetropolitan-statistical-area-data https://learn.roofstock.com/blog/realestate-market-analysis https://worldpopulationreview.com/uscities/detroit-population/ https://ezhouseprices.com/instant-e/? gclid=CjwKCAjw4871BRAjEiwAbxXi2zxv WRnFLdKy_w7yHyis4HLHbWdZogwjXS_ueRgHQIjGiERJi5EB RoCwjAQAvD_BwE
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