Development Costs
Construction Costs (PSF)
Fee Simple $165
MF - Stick $185
MF - Podium $215
Special Permit Costs (addition to soft cost) 10%
Soft Costs 20%
Land Costs Per Unit
Single Family $65,000
Townhomes $38,338
25-Unit Multifamily $50,000
125-Unit Multifamily $21,299
200-Unit Multifamily $15,000
Parking Costs (per stall)
Surface $8,000
Parking Ratios
Single Family/Townhome 2.00
Multifamily 1.50
Financing Costs
First Year of Operations 2021
Construction Period 1 year
Inflation Rate 2%
Mortgage Term
Rental (Years) 20
For Sale (Years) 2
interest Rate
Rental 5.50%
For Sale 5.00%
Equity
Rental 25.00%
For Sale 25.00%
Capitalization Rate (Rental) 5.50%
Cost of Sale 2.00%
Reversion (Years)
Rental (Years) 10
For Sale (Years) 1
Stabilization Period (Years) 1
Origination Fee % 1.50%
Developer Operating Expense Ratio (OE/PGI) 25.00%
Discount Rate (NPV) Rental 15.00%
Discount Rate (NPV) For Sale 20.00%
