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Cornell Real Estate Review

Article Title

Case Study in Residential Development: Bay Point II

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Abstract

The Bay Point II Apartments Case Study focuses on the evaluation of a development opportunity for a 10-acre parcel adjacent to Lake Ontario in Greece, New York. After The Presidio Group acquired a multifamily portfolio (which included the parcel), Troy Toller, president and chief operating officer, must decide what to do with the parcel. Toller puts together an ad hoc team to determine options for the land. The team settles on three options but must determine the profitability of each opportunity. The Bay Point case study assists students with financial modeling and critical thinking skills vital to the real estate development decision-making processes and provides opportunities to consider quantitative and qualitative issues in real estate.