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Table C-6
<br /> Podium Parking Mid-Rise Apartments Residual Land Value
<br /> East Pleasanton Specific Plan Infrastructure Feasibility Analysis; EPS#121090
<br /> Item Assumption Per Unit Total(per acre)
<br /> DEVELOPMENT PROGRAM
<br /> Units 30
<br /> Net Area 1,000 sq.ft.per unit 30,000 sq.ft.
<br /> Efficiency Ratio 85%
<br /> Gross Area 35,294 sq.ft.
<br /> Parking Ratio(spaces per unit) 2.0
<br /> REVENUE ASSUMPTIONS
<br /> Gross Revenue $28 /net sq.ft./year $28,000 $840,000
<br /> (less)Operating Expenses 30% ($8,400) ($252,000)
<br /> (less)Vacancy Rate 5.0% l$1,4001 1$42,0001
<br /> Subtotal,Annual Net Operating Income $18,200 $546,000
<br /> Capitalized Value 4.8% cap rate $383.158 $11,494,737
<br /> (less)Cost of Sale 3.0% ($11,4951 15344.6421
<br /> Total Revenue $371,663 $11,149,895
<br /> DEVELOPMENT COSTS
<br /> Direct Costs
<br /> Building Construction Cost(1) $225 /GLA sq.ft. $264,706 $7,941,176
<br /> Site Improvement Cost $5.0 /land sq.ft. $7,260 $217,800
<br /> Parking Construction Cost $0 per space
<br /> Total Direct Costs $271,966 $8,158,976
<br /> Indirect Costs
<br /> Impact Fees
<br /> Water $6,617 per unit $6,617 $198,510
<br /> Wastewater $9,807 per unit $9,807 $294,210
<br /> Public Facilities $2,736 per unit $2,736 $82,080
<br /> Traffic Development $3,125 per unit $3,125 $93,750
<br /> Tri-Valley Transportation Committee Fee $1,450 per unit $1,450 $43,500
<br /> Impervious Surface $1,234 per unit $1,234 $37,026
<br /> In-lieu Park Dedication Fee $7,969 per unit $7,969 $239,070
<br /> GIS Fee $3 per unit $3 $87
<br /> School Impact Fee $3,040 per unit $3,040 $91,200
<br /> Other Indirect Costs(2) 18.0% of direct costs $48.954 $1 468.616
<br /> Total Indirect Costs 31.2% of direct costs $84,935 $2,548,049
<br /> Subtotal,Direct and Indirect Costs $356,901 $10,707,025
<br /> Contingency(%of direct and indirect costs) 5.0% of direct and indirect costs $17,845 $535,351.27
<br /> Developer Return(%of direct and indirect costs) 15.0% of direct and indirect costs $45.50 $1,606,054
<br /> Total Costs $428,281 $12,848,430
<br /> RESIDUAL LAND VALUE ($56,633) ($1,699,000)
<br /> (1)Includes building permits.
<br /> (2)Include architecture&engineering,financing,and G&A costs.
<br /> Source:Economic&Planning Systems,Inc.
<br /> Economic&Planning Syslems,Inc. 712572013 P 11210001121090EaslPleasanfonI DafaVn6asfrvcfure FeasibilifyIeasibifity Cats]22.13.xis+
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