Real Estate Market Feasibility & Project Planning . Development Consulting . Construction & Risk Analysis

Multifamily . Single Family Rental (BTR) . Mixed Use . Commercial . Single Family For Sale & Condominium

MRC is Unique. We provide the Intelligence, Expertise and the Experience Required for Investment Success

About MRC: A Leader in Real Estate Feasibility, Development, and Construction Consulting

MRC is a trusted industry leader in Real Estate Market Feasibility Studies, Development and Acquisition Planning, and Existing Asset Consulting. With decades of expertise, we also specialize in Construction Consulting, offering unparalleled insight into risk management and project execution.

Since our founding in 1992, MRC has played a pivotal role in underwriting and developing over 175,000 residential units and 750 unique projects, representing a total value exceeding $10 billion nationwide. Our best-in-class reputation is built on deep market knowledge, innovative strategies, and a proven track record of success.

Driving Innovation in the Multifamily Industry
At MRC, we identify market opportunities ahead of the competition, shaping the multifamily sector with forward-thinking solutions. Our influence can be seen across some of the most significant real estate innovations of the past 35 years, including the pioneering of the Single-Family Build-to-Rent (BTR) product, which has transformed the industry and continues to drive the market today.

Leadership with Hands-On Development Expertise
Founder Bill Watts brings extensive GP sponsor experience on institutional-grade projects, where he raised the capital, signed the guarantees, planned and constructed the project, and successfully managed all the complexities of real estate development. This firsthand expertise gives MRC a unique advantage: we don’t just analyze projects—we have built and executed them.

A New Era of Real Estate Feasibility & Execution
The need for an experienced team has never been so evident as with what the industry has experienced over the past five years. It was a Master's course with challenges that have rewritten development feasibility, planning, underwriting and risk. Market Feasibility is now Project feasibility that requires expertise and skillsets only possible through development experience.

At MRC, we go beyond feasibility studies—our team actively supports developers through project execution, risk management, and construction consulting. Whether you're an independent owner or a large-scale developer, MRC can integrate at any stage of the project to provide strategic guidance and protect your investment.

Why MRC? A Competitive Edge for Developers & Investors

✔ Decades of Real-World Development Experience – We understand the challenges of the market from an owner/developer’s perspective.

✔ Proactive Risk Management – Identifying and mitigating risks before they impact your project.

✔ End-to-End Project Support – From feasibility analysis to construction execution, we provide comprehensive expertise.

✔ Custom-Tailored Solutions – Every client is unique, and we deliver personalized strategies to meet today’s needs and anticipate future challenges.

With substantial capital at stake in real estate development, having the right team can mean the difference between success and failure. MRC delivers the expertise, insight, and execution support that sets projects up for long-term success.

Multifamily

MRC is an experienced expert in all multifamily product types. This expertise is unique in that it includes both consulting and development. MRC understands firsthand where the challenges and opportunities are and how to execute a successful plan to mitigate the risk while maximizing the opportunity.

Single Family Build to Rent (BTR)

MRC was the innovator and first to market in the Single-Family Rental space now termed BTR - build to rent. We are the expert in this product space and can answer questions that others do not know exist.

Mixed Use and Mixed Residential

MRC has vast experience in the nuances of Mixed Use and is the leader in the specialties of Mixed Residential. MRC is also the expert and pioneer of the the new Mixed Residential platform, which creates many unique opportunities for risk mitigation and profit maximization.

MRC has years of experience in Single Family For Sale development and Master planning, Condominium product and Resort development.

MRC has worked on condominium and resort product in both the United States and Mexico

Complete Knowledge and Experience

In business for over 35 years, MRC has expertise in all areas of Market Feasibility, Underwriting, Development, Asset Management, Construction Management, and Business Legal Review.

Proven Results on a National Scale

MRC has experience in all 50 U.S. states including virtually all major metro markets, as well as having a deep portfolio of secondary and tertiary markets. MRC's portfolio of work spans decades with a portfolio value exceeding $43 billion dollars. Putting this into context, this is project team research, planning and development work rather than as a random data provider.

Lead Sponsor Development Experience

Our clients benefit from an expertise that exceeds academic. Our principals have large scale development experience as Development Sponsors with lead responsibility for site selection, entitlements, finance and legal, design, construction management, management and exit. We have signed the guarantees and fought the battles to create, finance, construct and lease the project. Our team understands the critical tasks and the risks. Our team can be a valuable partner to get your project to the closing table and to the end successfully.

Best In Class Industry Recognition

ULI, NMHC, NAHB, NAA

MRC is recognized for its expertise by the leading industry organizations, including ULI [Urban Land Institute], NMHC [National Multifamily Housing Council], NAHB [National Home Builders] and NAA [National Apartment Association]. MRC's founder, Bill Watts, served as a faculty member for ULI for its Multifamily Development, Market Feasibility, and Finance programs and a speaker for NMHC, NAHB, NAA, and other organizations.

Bill Watts - Founder

Market & Project Feasibility and Development

Bill has over 35 years of experience in real estate consulting and development. His work product is nationwide with owners, developers, lenders and municipalities. As a result, he is a recognized leader in this industry that companies rely on for his depth of knowledge, experience, innovation and understanding of all areas of development. Bill's involvement in the underwriting and development of over 175,000+ units and 750+ unique projects nationwide has exposed him to virtually all the challenges a project can experience. With this experience and knowledge, Bill is adept at quickly understanding a project, its market opportunity, risks and challenges and helping to establish a successful plan to succeed.

James Nichols - Construction Lead

Construction Management and Legal Review

James Nichols has over 20 years experience in the real estate development and construction industry and has a wide range of experience in acquisition, entitlement, construction, safety, legal, planning, and land use. He has directly managed construction and development of over 5 Million square feet of projects including commercial, adaptive reuse and remodel projects, new ground-up construction. James obtained a Juris Doctor (Law) from the University of Utah. He is a certified Project Management Professional, maintains OSHA 30 Hour Construction Safety and Health Training, and is a LEED Accredited Professional.

MARKET FEASIBILITY REPORTS

MRC is the leader in Market Feasibility. Required by lenders and investors, Market Feasibility is at the core of the underwriting risk in that it establishes the most basic element required for all real estate investments, which is market opportunity. MRC approaches every project as a unique assignment and situation. We are hands on providing complete review of the project. MRC is not a data aggregator or retailer. We are boots on the ground experts with consultant, equity, lender and sponsor level experience in development backed by over 35 years of successful underwriting nationwide.

NEW MARKET OPPORTUNITY CONSULTING . DEVELOPMENT OR ACQUISITION

Intelligent planning of a next location for development or acquisition is essential. MRC can work with our clients to identify new opportunities based upon location, product and market analysis that meets the client's platform. The next step is site evaluation where our team can assist in the site analysis including critical factors such as market, site impact (engineering, etc.), entitlements and other cost and or time factors that can impact a decision.

DEVELOPMENT PLANNING & UNDERWRITING

As experienced Developers and Builders, MRC has a deep background in all aspects of the Development Process and can assist in all or specific aspects of the process. Team Assembly Proforma & Financial review Risk Review Capital Formation Process Checklist Best Practice Checklist

CONSTRUCTION ANALYSIS, PLANNING & MANAGEMENT

The MRC Team has deep experience in all aspects of construction. This service offers all levels of construction assistance from planning to actual construction management consulting. The complexity of construction can be overwhelming with so many factors of concern such as contract management, RFI's, submittals, construction review, OAC's, pay-aps and change orders. Contractors hide costs and owner exposure in qualifications and exclusions and unless an owner knows the details of construction, they have no idea what their exposure is. MRC assists clients by identifying potential issues early through red-line reviews and GC contract review, and then staying on top of this process during construction. This service can be tailored to meet the Developer's needs.

CONTRACTING & BUSINESS RISK ANALYSIS

There is a difference between attorney legal process and business legal process. Overlooked in legal reviews is the practical business application of the GC contract. There are business areas where GC challenges will occur that a contract simply does not address adequately and as a result a Contractor leverages these ambiguities to their benefit. While the Contractor knows that your reading of the contract may be correct, they take advantage of the ambiguities in the language by knowing you have to file a claim to prove it, which due to time and money the owner is not likely to do. As a result, the owner is exposed to unnecessary costs and delays. MRC knows where these battles will occur and how to be prepared for them through a business review of the Contract.

EXISTING OR NEW ASSET CONSULTING

Given MRC's vast experience, our team is routinely asked to consult with challenging assets. These assignments normally focus on new Asset Acquistions, Underperforming Asset evaluations and/or market transition issues. Our team helps to identify key challenges, solutions and paths forward to protect the investment and plan for the future. This includes review of the product, the market and the leasing and management team/execution. MRC has a deep bench of vendor/consultant talent to bring into a project for specialized issues.