Market Analysis

Market Studies were completed by the Gibbs Planning Group to access both residential and retail opportunities within the City of Keego Harbor. The attachments below show each study.

The Residential Market Analysis finds that Keego Harbor can presently support up to 350 new residential dwellings including 50 detached single-family homes, 60 ranch condos, 80 townhomes and 160 rental lofts and apartments. Alternatively, given Keego Harbor’s desirable central Oakland County location, excellent schools, accessibility to major highways and beautiful lakes, the community could support significantly more amounts of new residential development if best practices for walkability, development standards and beautification were implemented. This study estimates that these new policies could likely attract considerable real estate investment generating a demand for up to 1,400 new moderate to upscale residential for-sale and rental dwellings by 2030. Under the best practices option. Keego could support up to 200 single-family homes, 250 townhomes, 350 ranch condos and 600 new apartments during the next decade. In both situations, unit sizes could range from 500 square feet (sf) apartments to 3,000 sf condominiums and single family- homes.

The Retail Market Analysis analyzes the retail market potential of the City of Keego Harbor under two different scenarios: 1) under existing conditions and 2) under a setting where a walkable village center is built utilizing industry best practices. Under existing conditions, Keego Harbor can presently support up to 58,100 square feet (sf) of new retail and restaurant development, which could generate as much as $21.9 million in sales by 2025. This new commercial development could include 13 to 18 new retail stores totaling 53,100 sf and 4 new restaurants totaling 5,100 sf. On the other hand, if a walkable village center is built, Keego Harbor could support up to 114,300 sf of new retail and restaurant development which could generate as much as $42.3 million in sales by 2025. In that scenario, new commercial development could include 25 to 30 new retail stores totaling 90,400 sf and 8 to 10 new restaurants totaling 23,900 sf.