Clinton Drive Disposition Study
3711 Clinton Drive
Planning + Urban Design
The Clinton Drive property is located in an industrial area, with a high level of automobile access and changing land use in the shadow of the Central Business District (CBD) Houston.
This study was commissioned to develop an understanding of the property value in response to the changing market condition near northeast Houston. Traditional industrial / warehouse land uses have moved away from the area in response to availability of cheaper land with superior highway access, inexpensive utilities and closer to the Ship Channel related industries.
Four land uses were considered for use of the site: retail, office, medium rise residential and hotels. Based on the changing conditions, the consultants assumed certain densities for different uses to develop residual land value based on current development costs and a capitalization rate of — 6% – 6.5% prevalent in the surrounding area.