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17 <br /> SECTION V <br />RESIDENTIAL PROJECTS PROPOSED IN THE SPECIFIC PLAN <br /> <br /> <br /> <br />Related Bristol at 3600 South Bristol Street September 2023 <br />Draft Market Study Report <br /> <br />www.FinanceDTA.com <br />Current rental rates in the Santa Ana area exceed those of the County. Table 6 reflects rental rates as of April 2023, per CoStar, and our proposed <br />rental information for the Project site. <br />Table 6: Rents in April 2023 <br />Description Studio SF Studio <br />Rent <br />One-Bedroom <br />SF <br />1-Bedroom <br />Rent <br />Two-Bedroom <br />SF <br />2-Bedroom <br />Rent <br />Three-Bedroom <br />SF <br />3-Bedroom <br />Rent <br />Orange County 565 SF $1,929 730 SF $2,184 1,113 SF $2,698 1,152 SF $3,026 <br />2-Mile Zone 551 SF $2,167 750 SF $2,513 1,050 SF $3,305 1,152 SF $3,505 <br />In addition, as shown in Figure 11, CoStar forecasts rent growth in the 2-Mile Zone of about 2.0% annually for both the City and County. <br /> <br />Exhibit 10 <br />  <br />  <br />City Council 22 – 540 9/17/2024