SREA represented Congreso de Latinos Unidos, an organization that works with less privileged Latinos and Latino communities in Philadelphia by providing individuals with the tools needed to climb the economic ladder. With a 30,000 square foot space requirement for a charter school, and the lack of a strategic real estate plan, Congreso engaged the market expertise of SREA to assist in formulating a game plan by identifying potential space and/or purchase opportunities.
- Created preliminary project budget and projected schedule
- Performed a current needs analysis
- Performed employee and targeted student analyses
- Conducted a market survey
- Performed building inspections and analyses
- Conducted space planning and provided construction pricing
- Produced a request for proposal
- Performed a financial analysis
- Conducted sale negotiations and executed a purchase agreement
How SREA Added Value
SREA presented a host of alternatives, including lease, purchase and ground-up development throughout the northeast section of the City of Philadelphia. SREA was able to present a comprehensive analysis of lease versus purchase and determined that the best economic solution was for Congreso to pursue the purchase of a building.