A feasibility study is an important first step in the construction of a new building. Federal, state, and local agencies as well as land developers, business owner and entrepreneurs use feasibility studies to determine potential positive and negative outcomes of a project before investing a considerable amount of time and money.
What is the Purpose of a Feasibility Study?
A feasibility study is an assessment of the practicality of a proposed master plan or building design. It is an analysis of how successfully a project can be completed, accounting for factors that affect the economic, technological, legal and scheduling factors of the project. Once a site has been chosen for the future structure, the study can begin. During this period, the site is thoroughly examined in order to determine whether or not it is a suitable place to construct the building. A Development of Regional Impact (DRI) study is normally initiated for large projects that will affect regional areas of a state or city.
The feasibility study is the strategic framework that accompanies the master plan and sets the scene in establishing baseline information related to the physical, social, and economic context of the site and surroundings. This background information should outline the site location and dimensions, topography, and existing uses. It should highlight the current zoning regulations and relevant/applicable planning policies, as well as any particularly important opportunities and constraints relevant to the site. The strategic framework is critical for developing a sound spatial master plan in the next stage. It includes all of the studies and analysis that are needed before entering the design phase, especially urban design analysis, which provides options for various urban design scenarios.
Once the feasibility study and strategic framework have been undertaken, the physical master planning process continues. Based on the first two phases, master plans establish and develop options for land use, which will later be translated into three-dimensional models to identify the resulting development needs, as well as costs and values. In summary, the spatial master plan should include elements such as massing, height, densities, orientation, grids and blocks (without architectural or style details) transportation systems, and open spaces.
What Is Factored Into the Study?
There are many things that The Parris Company takes into consideration when carrying out a feasibility study. Here are just a few:
Does the site fit the project's budget? Are there certain factors that could potentially end up costing more than the amount that has been allocated? Factors such as drainage issues, vehicular access, traffic patterns, zoning, soil quality, electric power, water and sewer availability, building materials, building structural, electrical and mechanical systems, and more can affect the project’s budget.
What is the impact that construction will have on the surrounding area? Is there another site that would be better suited because the impact would be minimal? What are the transportation, water, sewer, electrical power impacts and other infrastructure the project will impose?
Potential environmental problems
Is the ground suitable for construction? Can it support a plumbing system, or the weight of a building? Is the site located near any areas known to have or other environmental issues? Is the site located near a contaminated area? Were hazardous materials stored on the site in the past? Was the site a former paint factory, chemical plant, industrial plant, gas station or service station which may have underground tanks that leaked into the soils? Was the site used as a cemetery or were old buildings buried on the site?
What was located at the site previously? Was it a similar building, and if so, what happened to it? What relevant information is there about the site's history? Does the site have a history of contamination?
WHY CHOOSE The Parris Company
As a well-respected architecture firm in Jacksonville The Parris Company is an excellent choice for feasibility studies. Our thorough and detailed studies have helped many clients make informed decisions about the suitability of a site. Clients were able to spend their money wisely and efficiently on the right site and/or the right building design.
To learn more about how we can assist you, give us a call today.Book an Appointment