29 Oct Economic and Residential Market Assessment and Analysis for the Lawrenceville Comprehensive Plan
Location: Lawrenceville, GA
Client: City of Lawrenceville
Lead Consultant: POND
Services provided: Economic and Residential Market Assessment and Analysis
KB Advisory Group conducts economic and market data assessment and analysis for the City of Lawrenceville
KB Advisory Group (KB) Scope
POND engaged KB Advisory Group to provide multiple services in support of the creation of the Lawrenceville Comprehensive Plan in Lawrenceville, GA. These services included an economic and market data assessment and analysis and a residential market assessment and analysis.
KB consultants analyzed the demographics of Lawrenceville, finding the area city is home to 32,000 residents, 25% of which are Millennials. Lawrenceville has experienced a tenfold increase in population density since the 1950’s. This population is estimated to continue growing at an average annual rate of 1.1%.
KB analysts provided a comprehensive assessment of the City of Lawrenceville’s economic and market data, including the following elements:
- Demographics (Residential population, racial composition, age distribution, educational attainment, and household income)
- Employment and Workforce (Employment trends and totals and commuting patterns)
- Housing (Household characteristics, age, types, value, costs and cost burden)
KB‘s analysis also included a housing opportunity analysis, which sought to supplement an existing housing study in Lawrenceville by reporting on the nature of housing in Lawrenceville, the types of housing to be delivered in the future based on existing trends, and how Lawrenceville could shape it’s housing supply.
The culmination of KB Advisory Group‘s work equips Lawrenceville with valuable information and strategic guidance, providing crucial information for the development of the Lawrenceville Comprehensive Plan and Comprehensive Transportation Plan.