Patrick Bowen Presents at Nebraska Investment Finance Authority’s Housing Innovation Marketplace

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On March 22, 2016, Patrick Bowen presented at the Nebraska Investment Finance Authority’s 2016 Housing Innovation Marketplace. The session was titled “Housing Market Studies” and was moderated by Ms. Casey Cline, Development Director at Travois. Additional panelists included Mr. Timothy M. Keelan, Principal Partner
of HANNA:KEELAN ASSOCIATES, P.C. and Mr. Brian Wilson, MAI, Commercial Real Estate Appraiser with Wilson Valuation LLC.

Mr. Bowen’s presentation involved a review of housing market study components and included an overview of NIFA’s market study guidelines. This presentation is available here and in the Research Center at www.bowennational.com.

Patrick Bowen Presents at the Virginia Housing Credit Conference

On Thursday, October 8, 2015, Patrick Bowen presented at the Virginia Housing Credit Conference, sponsored by the Virginia Housing Coalition and held at The Westin in Richmond, Virginia. Additional panelists included Jaynell Pittman-Shaw, Senior Allocation Officer with the Virginia Housing Development Authority, and Corine Sheridan, Vice President, Director of Origination with Boston Capital. The session was moderated by JD Bondurant, the Assistant Director of Low Income Housing Tax Credit Programs at the Virginia Housing Development Authority.

The title of the session was “Virginia’s Market: What’s Hot, What’s Not” and the purpose was to provide an understanding of where markets in Virginia have been and where they are going. Patrick Bowen provided attendees with an overview of the Tax Credit rental housing market in Virginia, as well as in 10 major cities throughout the state. Information presented included an overview of collected Tax Credit rents and vacancy rates of more than 100 LIHTC projects in the state. According to Mr. Bowen, “Based on our research, there aren’t any weak rental markets among the existing LIHTC supply and several markets have vacancy rates below 2.0%.”. Mr. Bowen added, “There are many low-income housing development opportunities in the state. It’s just a matter of finding the right project to fit the market’s needs.” This presentation is available here and in the Research Center at www.bowennational.com.

Patrick Bowen Presents Downtown Morgantown Retail Analysis

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On Tuesday, June 30, 2015, Patrick Bowen presented findings from a Downtown Retail Feasibility Study, conducted for Main Street Morgantown in West Virginia. Below is an article written after this presentation.

Study: Parking, safety could be reasons for vacant retail space

Andrew Hesner

TheDPost.com

MORGANTOWN — A feasibility study on downtown Morgantown and the Wharf District shows that of the surveyed 374,586 square feet of retail space, more than 8 percent is vacant.

And although this is slightly lower than the regional and national averages, leasing rates for downtown retail space are “substantially lower than those reported at competitive shopping centers in Morgantown,” according to the study.

The study, presented by Patrick Bowen, owner and founder of Ohio-based Bowen National Research, on Tuesday night, June 30, to the Morgantown City Council Committee of the Whole (COW), attributes the low rates to parking, traffic and safety concerns from stakeholders, and many spaces being in poor condition.

A COW meeting is a non-voting, and discussion-based session with the council.

The more than 200-page report, solicited to Bowen by Main Street Morgantown, assesses current retail market conditions, shopping centers outside downtown and provides recommendations to fix retail problems.

Charlie McEwuen, of Main Street Morgantown, after hearing the presentation, gave the council an update as to what Main Street is doing.

“Bottom line is … according to a lot of the downtown merchants, safety is a very important factor right now, or the perception of safety.”

And although McEwuen said he feels comfortable and safe downtown, he has heard that many do not. And to address that issue, he suggested adding more lighting and addressing “probably the No. 1 topic for all downtown merchants … undesirables. … We have some homeless downtown, but most of the people that are causing concern for our customers, for a lack of better word, I’m going to call them bums — they are just people that hang out downtown and intimidate passersby.”

He recommended adding more police officers on the streets.

The study used demographic data for population, households, and employment came from ESRI, the 2000 and 2010 United States Census, Applied Geographic Solutions, U.S. Department of Commerce, and the American Community Survey, according to the report.

Downtown Housing Needs Assessment in Charleston, WV

In January of this year Bowen National Research were hired by the Charleston Area Alliance to conduct a Downtown Housing Needs Assessment in Charleston, West Virginia.  Patrick Bowen, the principal and author of the report, presented the report’s findings last Tuesday (April 21st) at the Charleston Area Alliance “Think Tank” event.  You can read more about the presentation via the link below of the article in the Charleston Gazette.

http://www.wvgazette.com/article/20150421/GZ01/150429819/1419

In addition, Mr. Bowen’s presentation also made television on the local news channels WCHS and WSAZ in Charleston.  You can visit the link below to view the short video.

http://www.wchstv.com/news/features/eyewitness-news/stories/Study-Says-Charleston-Area-Needs-More-Housing-117941.shtml#.VT5H401uiUl