|
Distribution |
|
Demographics |
|
||
|
|
Studios | 10 |
|
Existing Tenants | 6 |
|
|
|
One Bedrooms | 18 |
|
Moderate Income | 18 |
|
|
|
Two Bedrooms | 5 |
|
Resident Manager | 1 |
|
|
|
Total | 33 |
|
Resident Super | 1 |
|
|
|
*1 commercial space not included
|
|
Total | 26 |
|
|
|
|
Development Costs |
|
Financing |
|
||
|
|
Acquisition | 1 |
|
Neighborhood Revitalization Program | 2,116,557 |
|
|
|
Soft Costs | 1,012,046 |
|
LIHTC Equity | 2,591,018 |
|
|
|
Construction | 7,105,000 |
|
Historic Preservation Tax Credits | 1,600,000 |
|
|
|
Capital Reserves | 519,679 |
|
Total | 6,307,575 |
|
|
|
Total
|
8,636,726
|
|
|
||
|
|
Construction Cost per Unit: 215,303 Total Development cost per unit: 261,719
|
|||||
|
|
Annual Expense |
|
Annual Income |
|
||
|
|
Operating | 192,777 |
|
Rental Income | 234,646 |
|
|
|
|
Commercial Income | 7,850 |
|
||
|
|
|
Interest Income | 4,751 |
|
||
|
|
|
Vacancy Loss | (12,362) |
|
||
|
|
|
Net Revenue
|
234,885
|
|
||
|
|
|
Surplus/Deficit | 42,108 |
|
||
|
|
|
Operating Coverage | 122% |
|
||