What can you build here, and should you?

A Level 1 scoping study typically ranges from $5,000 to $15,000, depending on the scope of work. Level 2 preliminary underwriting typically ranges from $15,000 to $35,000 depending on project size and complexity. Level 3 full underwriting ranges from $35,000 to $75,000 or more. You only pay for the level you're at, and you can stop after any level.

Level 1 takes two to four weeks. Level 2 adds three to four weeks. Level 3 adds four to six weeks, depending on how fast third-party reports come back. Most clients move through all three levels in eight to fourteen weeks. We can accelerate timelines for urgent deals on request.

A market study looks only at demand — who will rent or buy, and at what price. A feasibility study includes the market study but also covers what you can build (code, entitlements), what it will look like (concept design), what it will cost (construction budget), and whether the whole thing pencils (pro forma). It is a superset, not a synonym.

Yes. Most grant programs, LIHTC applications, and public funding sources require a pro forma, a sources-and-uses statement, and a concept design — all of which are deliverables in a nSCALE feasibility study. A Level 2 or Level 3 package is typically what funders expect to see in an application.

A Level 3 full underwriting package is designed for exactly that. It includes third-party-verified assumptions, appraisals, CoStar market data, renderings, and a complete pro forma with an equity waterfall. You can hand it to a lender, an investor, or a grant committee and they can evaluate it without commissioning their own study.

You stop. That is the point of the study. Every level ends with a decision point, and if the answer comes back no, you walk away having spent a fraction of what you would have spent on design, permits, and deposits. We tell you why it doesn't work and what would need to change for it to pencil.

You do. All deliverables — drawings, financial models, reports, and renderings — belong to you from the moment they're delivered. If you decide to work with a different architect or consultant, you take everything with you. We retain no claim on your project's intellectual property.

Yes. A significant portion of our practice is mission-driven work — affordable housing, community facilities, and faith-anchored development. We offer flexible fee structures including deferred fees and equity contributions to reduce the pre-development cost burden for organizations that can't pay full freight upfront.

A program of requirements is a document that defines what the project needs to be — how many units, what sizes, what common areas, what parking ratio, what structural load. It is the bridge between the market study (what the market wants) and the concept design (what the building looks like). Every feasibility study includes one.

Yes. nSCALE is a licensed architecture firm in Ohio, New York, and North Carolina. If the feasibility study says the project works and you want to move forward, we can transition directly into full architectural design — concept design, construction documents, and construction administration — without changing teams or losing context.

An equity waterfall is a financial model that shows how cash flows are split among the sponsor, the investors, and the lender over the life of the project. It is in the study because it tells you whether the deal generates enough return to attract the capital you need — which is the real question at Level 2 and Level 3.

We are licensed architects in Ohio, New York, and North Carolina, and most of our active work is in those states. For feasibility studies — which don't require an architectural stamp — we can work anywhere in the United States. If the project moves into full design, we partner with a locally licensed architect.