Bulloch County Commissioners voted Tuesday to approve a housing study for the region impacted by the Hyundai mega site.
Bulloch County was asked to participate in a regional housing study with the other participating entities including, Bryan, Chatham, and Effingham counties and the City of Savannah.
Each entity has been asked for $20,000, for a total of $100,000 to match 50% of a state grant from the Department of Community Affairs. The entire study will cost Georgia taxpayers $200,983. According to the county commission agenda, the Georgia Tech Research Center will conduct the study.
The proposal for the study says the analysis will “provide a thorough understanding of the local housing market, identify key trends and drivers of demand and supply, and inform stakeholders about current and future market rate and workforce housing needs.”
The final Workforce Housing Needs Assessment report will include detailed results including information for market rates of for sale and rental residential properties, supply and demand, time on the market, residential projects in the pipeline, gaps in product offerings, vacancy rates, price points compared to income levels, and other relevant data. The housing market analysis will utilize natural population growth projections to illustrate future housing needs. The final report will be presented to key stakeholders at the discretion of the JDA members once final edits and changes are made to the draft report.
Proposal prepared by Georgia Tech’s Center for Economic Development & Research
County staff said there are ‘several other value added tasks included such as a cost of services study and future impact simulation modeling for each entity.’
The study is expected to be completed in October 2024, but a disclaimer notes delays could extend the production date.
Commissioners voted 5-1 to approve the study, with Commissioner Toby Conner voting no.
The document, linked below, was provided to the Savannah Harbor I-16 Joint Development Authority on December 19, 2023.
Read the Housing Market Needs Assessment & Planning Services proposal here.
