INC WSIO NARY ZONING ANALYSIS 2 9
Table 14. 200-Unit Multifamily (Stick) Rental Development
No _ Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1
INC WSIO NARY ZONING ANALYSIS 2 8
200-UNIT MULTIFAMILY (STICK) RENTAL DEVELOPMENT
INC WSIO NARY ZONING ANALYSIS 2 7
Table 13. 125-Unit Multifamily (Podium) Rental Development
No = Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Downtown Downtown Downtown Downtown
INC WSIO NARY ZONING ANALYSIS 2 6
Table 12. 125-Unit Multifamily (Stick) Rental Development
No = Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1
INC WSIO NARY ZONING ANALYSIS 2 5
125-UNIT MULTIFAMILY (STICK) RENTAL DEVELOPMENT
Table 11. 50-Unit Townhome Ownership Development
INC WSIO NARY ZONING ANALYSIS 2 4
Inclusionary 80%
INC WSIO NARY ZONING ANALYSIS 2 3
Table 10. 25-Unit Multifamily (Podium) Rental Development
No _Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Downtown Downtown Downtown Downtown
INC WSIO NARY ZONING ANALYSIS 2 2
25-UNIT MULTIFAMILY (PODIUM) RENTAL DEVELOPMENT
The impact of requiring podium parking on small rental housing developments is substantial. The
Current Market/Baseline Scenario yields 11.70% IRR assuming a $50,000 land value per unit. The net
present value difference to the surface parking assumption is nearly $340,000 due to the much higher
costs of podium parking instead of surface spaces. As a result, the land value per unit would need to
be $19,587 per unit to meet the proposed return threshold.
INC WSIO NARY ZONING ANALYSIS 2 1
Table 9. 25-Unit Multifamily (Stick) Rental Development
No _Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1
INC WSIO NARY ZONING ANALYSIS 2 0
Table 8. 10-Unit Ownership Development
Inclusionary 80%
Inclusionary AMI W/ Adjusted
No Inclusionary | 80% AMI W/ | Land Value and
Adjusted Land | Adjusted Land | Bonus Market
No Inclusionary | Value Value Units
Location Suburban Suburban Suburban Suburban
Unit Style Single Family Single Family Single Family Single Family
Unit Type Owner Owner Owner Owner
Construction Type Fee Simple Fee Simple Fee Simple Fee Simple
Construction Cost $165 $165 $165 $165
