Bowen National Research finished a successful 2018 with the completion of a countywide Housing Needs Assessment in Michigan, along with the launch of several others, and a trip to Puerto Rico to study multiple housing projects on the island devastated by Hurricane Maria in 2017. A comprehensive analysis of Ottawa County, Michigan capped off a string of large and high-profile Housing Needs Studies that were finished by our firm in 2018. The community-wide studies included the following:
- Yellow Springs, Ohio
- Burke County, North Carolina
- Dublin, Georgia
- Beaufort County, South Carolina
- Evansville, Indiana
- Ottawa County, Michigan
These comprehensive studies were done during a year that saw Bowen National Research complete nearly 500 market studies in 32 states and Puerto Rico that included a total of 284 markets. The scope of the firm’s work included:
- Rural Development housing portfolio studies in Kansas
- Native American housing studies from California to Maine
- State finance agency work in places like Louisiana and Iowa
- Work for non-profit groups serving special needs populations such as the homeless and veterans
- Mixed-use projects in Minneapolis, Minnesota and Anderson, South Carolina
- Student housing and senior care studies in numerous markets throughout the country
We conducted our first work for Redstone Investments while continuing to work with HUD lenders partners such as Berkadia, Love Funding, and Merchants Capital. Overall, nearly 130 organizations chose Bowen National Research as their trusted partner for real estate markets research and analysis services.
Our firm will not sit idle because of our 2018 successes. We are in the process of investing more than $100,000 in a state-of-the-art database that will enable the firm’s researchers and analysts greater data collection and processing, more data analytics capabilities and better information for users of Bowen’s services. The database, scheduled for implementation in 2019, will empower us to provide more in-depth data analysis, including rent comparisons, rent growth trends, turnover rates, renovation activity, Voucher usage and much more. The new database is just one part of several investments in technology Bowen has planned over the next few years.
The experience and reputation that Bowen National Research’s team has garnered over the years have earned our client’s trust in providing input on market study requirements for state housing finance agencies in Minnesota, Iowa, Michigan, and Virginia. The firm’s principal, Patrick Bowen, currently serves as Co-Chair for the Standards Committee for the National Council of Housing Market Analyst ((NCHMA). This committee, under Mr. Bowen’s leadership, continues to explore key industry issues, including income-averaging under the Tax Credit program and affordable assisted living projects. Bowen National Research is exploring a national survey of apartment managers that would pinpoint housing industry topics and provide the firm with exclusive insight on key market trends that can help its clientele make better strategic decisions involving development.