| Residential Development
Our housing services are primarily geared towards acquisition rehab and infill development, converting substandard housing and vacant lots into their highest and best residential use. Typical projects include small development sites that can be completed within 18 months, and larger 6-20 unit lots to be completed within 36 months.
Our market-rate housing projects will target the working sector population and draw support from organizations that assist in developing affordable workforce housing. Partnerships with local governments will potentially involve expedited rezoning assistance or variances that support development of special housing types.
Projects that are conducive to mixed income residences will feature a high quality of design for both low-income and market-rate units, intermixing structures to prevent persons from readily distinguishing them (apart from examining rent rolls). Cities have long advocated for this genre of housing to be produced by private sector developers as a means of bringing needed investment into underserved and blighted areas.
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Mixed-Use Development
Mixed-use development offers a revitalizing opportunity for cities to expand the current base of their commercial marketplace while simultaneously creating captive markets to sustain emerging retail and dining outlets. These projects provide a means for shoppers, diners, workers and residents to efficiently and cooperatively function without the distractions that typically arise from conflicting activities. Hanrich Enterprises accomplishes this phenomenon by coordinating each space and use according to peak occupancy and activity rates to ensure smooth transitions between varied tenants in the development.
HEI is aware that creating the right tenant mix is crucial to a project’s success. Retail components of mixed-use projects must support both the local neighborhood and the associated residential use. Developers are required to identify key commercial and retail tenants at the onset of the design program to ensure that projects will respond to tenant needs. To achieve a proper program, Hanrich evaluates the types of goods and services existing within the community and focuses on uses and tenants that can be sustained by the local market. Understanding what cities desire and dislike in regards to development and communicating the objectives of the proposed development activity to surrounding neighborhoods is vitally important to the success of a project.
Successful projects typically are not isolated entities but exist as intricately supported developments that draw upon characteristics within the immediate community. Proper linkages that integrate a structure into its surrounding environment are a key to promoting a project. Further construction of mixed-use projects will likely be promoted as improvements in public transportation provide accessible means for commuters to escape traffic congestion. With strong partnerships between cities and the assembled development team, our projects can serve as models for these mixed-use endeavors, and will meet the existing housing and commercial needs of the immediate area.
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