Feasibility refers to assessing the practicality of a proposed project or system. Two criteria to determine a project’s feasibility include cost and value. When conducting a feasibility study, it is key to remain objective when evaluating a project’s strengths, weaknesses, opportunities, and threats, and to determine the appropriate and necessary resources required to successfully complete the project.
The acronym TELOS refers to the five areas of feasibility that should be considered: technical, economic, legal, operational, and scheduling.
As the development partner on the project, Stahl recently completed thorough feasibility studies with the owner for the Center for Performing Arts facility in Minneapolis, MN. The urban infill project involves expanding its community, performance, studio, residential, and green spaces. The four-story, 20,000-square-foot addition will be linked to the existing building and provide expanded class programming, hosted events, and rental space.