The City of Plano is seeking professional services to conduct annual housing and commercial real estate market studies of the City of Plano, consistent with the objectives of the Comprehensive Plan 2021. The studies are meant to provide:
(a.) an up-to-date standard data profile of the real estate economic conditions in Plano, and comparisons to benchmark peer cities;
(b.) the current supply and demand for various housing, building, or land use types, including general methods and sources; and
(c.) analysis of market trends in response to (a.) and (b.) above, including potential impacts on price and affordability at various income levels for housing; economic impacts on business sectors tied to the community for commercial data, and professional observations of strengths, weaknesses, opportunities, and challenges related to the real estate market, locally and beyond, impacting the community.
(d) The analysis will consider resident preferences as part of the results where data is available.
If this expenditure is not approved, the City’s efforts to meet the objectives and guidelines determined by the Council-approved Comprehensive Plan 2021 will be inhibited and delayed.
The City is exempt from the competitive bid process for this purchase as allowed by Texas Local Government Code Chapter 252 Subchapter B Section 252.022(a)(4).