Laserfiche WebLink
Appendix Table G-3 <br />Market-Rate Prototypes and Development Cost Assumptions <br />Pleasanton Inclusionary Zoning Ordinance Update <br />Item Per Unit <br />Development Prototype <br />Tenure <br />Parcel Size 1 acre <br />Density 40 units/acre <br />Unit Size 1,500 sq.ft. <br />Number of Bedrooms 2.0 per unit <br />Amount of Parking 1.5 per unit <br />Development Costs <br />Land Costs $4,500,000 per acre $112,500 <br />Site Preparation $30 per sq.ft. of land $32,670 <br />Subtotal, Land $145,170 <br />Direct Construction Costs $325 per sq.ft. $487,500 <br />Parking Costs $40,000 per space, wrap-style $60,000 <br />Builder Fee 5.0% of direct costs, incl. parking $27,375 <br />Subtotal, Direct Costs $574,875 <br />Development Impact Fees [1] $65,550 per unit $65,550 <br />Indirect Costs [2] 20% of direct costs $114,975 <br />Subtotal, Indirect Costs 31% of direct costs $180,525 <br />Total Construction Costs $900,570 <br />Sources: Costar; Marshall & Swift; EPS discussions with local active developers <br />[1] Development impact fee total does not include current affordable housing inclusionary fee requirements <br />[2] Includes costs for architecture and engineering; entitlement and fees; project management; appraisal and market <br />study; marketing, commissions, and general administration; financing and charges; insurance; and contingency. <br />Ownership <br />Multifamily Attached Condo <br />Assumptions <br />Page 146 of 893