|
30
<br /> SECTION VI
<br />VERTICAL COSTS
<br />
<br />
<br />
<br />Related Bristol at 3600 South Bristol Street September 27, 2023
<br />Land Residual Value Study Report
<br />
<br />www.FinanceDTA.com
<br />VI VERTICAL COSTS
<br />Vertical costs include all costs from the foundation to the roof of a dwelling unit, including
<br />a 5% contingency and the cost of a building permit. Table 44 lists the total of the vertical
<br />costs and Table 45 represents an analysis of the vertical costs by product type per SF.
<br />Vertical costs related to the commercial properties are in addition to the residential costs.
<br />Table 44: Vertical Costs by Product Type and Phase
<br />Total Vertical Construction Costs Phase 1 Phase 2 Phase 3 Total
<br />Apartment $680,331,900 $228,209,100 $165,215,400 $1,073,756,400
<br />Commercial $23,726,293 $13,939,830 $21,571,314 $59,237,437
<br />Hotel $56,560,000 $0 $0 $56,560,000
<br />Congregate $59,388,000 $0 $0 $59,388,000
<br />Total Vertical Construction Costs $820,006,193 $242,148,930 $186,786,714 $1,248,941,837
<br />
<br />Table 45: Vertical Cost Estimates per SF
<br />Vertical Cost Data Phase 1 Phase 2 Phase 3 Total
<br />Residential SF 2,138,400 SF 717,300 SF 519,300 SF 3,375,000 SF
<br />Residential Cost per SF $318.15 $318.15 $318.15 $318.15
<br />Commercial SF 158,655 SF 75,112 SF 116,233 SF 350,000 SF
<br />Commercial Cost per SF $149.55 $185.59 $185.59 $169.25
<br />Hotel SF 140,000 SF 0 SF 0 SF 140,000 SF
<br />Hotel Cost per SF $404.00 $0.00 $0.00 $404.00
<br />Congregate Care SF 192,000 SF 0 SF 0 SF 192,000 SF
<br />Congregate Care per SF $309.31 $0.00 $0.00 $309.31
<br />Total Vertical Cost $311.90 $305.58 $293.91 $307.85
<br />
<br />Exhibit 10
<br />
<br />
<br />City Council 22 – 515 9/17/2024
|