Allegro was engaged to lead a structured feasibility analysis focused on market conditions, user demand, and financial performance over a 10-year horizon. The process included comprehensive research, stakeholder interviews, and detailed operational modeling.
Phase I – Market Research & Stakeholder Engagement included conducting market research on lease rates and occupancy costs for educational users, completing interviews with comparable educational institutions to understand real-world operating and leasing benchmarks, and assessing the Subject Property’s positioning relative to peers, including condition, amenities, and geographic considerations.
Phase II – Building Evaluation evaluated the school building’s physical condition, identifying repair, maintenance, and deferred capital needs that influence feasibility and long-term operating costs. This phase also positioned the asset within the broader educational real estate landscape to understand competitiveness and potential constraints.
Phase III – Financial Modeling & Scenario Development involved developing a 10-year operating pro forma incorporating market-supported education lease rates, operating expenses, repairs and routine maintenance, and deferred maintenance and capital expenditure requirements. Allegro also modeled the City’s anticipated long-term financial obligations under continued educational use.
