Using the Pencil Test, you've now calculated the effective gross income, operations expenses, development costs, and the cost of capital for Project 5789. Based on this analysis, you have the critical information you need to determine the feasibility of the project.

In this part of the course project, you will summarize your findings on Project 5789 by crafting a memo to the owner of the development firm. In the memo, you will describe the project vision and concept, the project scope, key findings from the location and site analyses, and the project feasibility, providing your recommendation on whether or not to proceed with the project.