New York Avenue Corridor Strategy Adopted Report New York Avenue Corridor Strategy Adopted Report | Page 132

APPENDIX
Key Assumptions
Project Revenue
Office Building Efficiency
Retail Building Efficiency
Rental Residential Building Efficiency
Rental Residential Rent
Ownership Residential Sales Price
Retail Rental Rate
Stabilized Occupancy Rate
Operating Costs
Marketing Costs (Ownership Residential)
Stabilized Capitalization Rate
90%
90%
80%
$1.20 to $3.40 Per Square Foot (includes Senior
Housing)
$225,000 to $350,000 Per Unit (includes Senior
Housing)
$15.00 to $18.00 Per Square Foot (triple net)
90%
$.50 Per Square Foot (Retail)
$4,500 Per Unit (Residential Rental)
$20,000 Per Unit (Senior Housing)
7% of Sales
8%
Project Costs
Property Acquisition/Demolition
On-Site Improvements (Surface Parking)
On-Site Improvements (Structured Parking)
Site Development
Building Construction (Hard Costs Only)
Retail
Rental Housing
For-Sale Housing
Construction Contingency
“Soft” Costs (% of Hard Costs)
Developer Profit
TAD Value + 20% Premium
$2,500 Per Space
$15,000 Per Space
$1.50 to $3.40 Per Square Foot
$80 to $90 Per Square Foot
$80 to $90 Per Square Foot
$110 to $120 Per Square Foot
5% of Construction Costs
10% to 15% of Hard Costs
10% of Total Costs
Potential Contributions To Gap
Land Acquisition/Writedown
Site Improvements Contribution
Property Tax TIF (25 Years)
Sales Tax Sharing (380 Loan)
Public Improvement District (20 Years)
Property Tax Abatement (10 Years)
Development Fee Waivers
Federal/State/Local Grants
Streamlined Development Processing
Community Strategists
Up to 50% of Total Cost
Up to 50% of Total Cost
City and County Tax Rates Only (.912)
50% of Sales @ $200 to $300 Per Square Foot
.20 to .30 Per $100 Valuation
City Tax Rate Only (.648)
City Estimate
Project Specific
Acquisition Cost X Monthly Interest Rate X # of
Months Reduced Processing Time
2
ARLINGTON, TEXAS
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