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SECTION I
<br />PROJECT INFORMATION
<br />
<br />Related Bristol at 3600 South Bristol Street September 27, 2023
<br />Land Residual Value Study Report
<br />www.FinanceDTA.com
<br />Table 4: Summary of LRV by Product Type
<br />Description Apartment
<br />Apartment
<br />- % of
<br />Revenues
<br />Commercial
<br />Commercial
<br />- % of
<br />Revenues
<br />Hotel
<br />Hotel - %
<br />of
<br />Revenues
<br />Congregate
<br />Care
<br />Congregate
<br />Care - % of
<br />Revenues
<br />Community
<br />Center Backbone Total
<br />$1,942,820,000 100.00% $218,837,077 100.00% $109,138,529 100.00% $106,470,000 100.00% $0 $0 $2,377,265,606
<br />evelopment Soft Costs ($19,995,221) (1.03%) ($1,957,771) (0.89%) ($938,066) (0.86%) ($124,933) (0.12%) ($2,986,887) ($541,208) ($26,544,086)
<br />($116,245,415) (5.98%) ($8,997,782) (4.11%) ($10,150) (0.01%) ($5,346) (0.01%) ($93,676) $0 ($125,352,369)
<br />Land Development Hard Costs ($161,556,570) (8.32%) ($960,804) (0.44%) ($5,544,304) (5.08%) ($728,755) (0.68%) ($19,271,438) ($7,719,318) ($195,781,188)
<br />Backbone Allocation by Sale % ($18,689,409) (0.96%) ($2,637,996) (1.21%) ($981,940) (0.90%) ($957,931) (0.90%) $15,006,749 $8,260,526 $0
<br />Lot Improvement Cost ($316,486,614) (16.29%) ($14,554,352) (6.65%) ($7,474,460) (6.85%) ($1,816,965) (1.71%) ($7,345,252) $0 ($347,677,643)
<br />al Construction Costs ($1,073,756,400) (55.27%) ($59,237,437) (27.07%) ($56,560,000) (51.82%) ($59,388,000) (55.78%) $0 $0 ($1,248,941,837)
<br />($96,091,348) (4.95%) ($11,473,692) (5.24%) ($4,943,883) (4.53%) ($5,614,827) (5.27%) $0 $0 ($118,123,749)
<br />Marketing and Sales ($9,736,069) (0.50%) ($218,837) (0.10%) ($94,619) (0.09%) ($106,470) (0.10%) $0 $0 ($10,155,994)
<br />($44,470,531) (2.29%) ($5,211,641) (2.38%) ($2,253,356) (2.06%) ($2,535,600) (2.38%) $0 $0 ($54,471,128)
<br />Total Costs ($1,540,540,962) (79.29%) ($90,695,959) (41.44%) ($71,326,317) (65.35%) ($69,461,862) (65.24%) ($7,345,252) $0 ($1,779,370,352)
<br />Land Residual Value $402,279,038 20.71% $128,141,118 58.56% $37,812,212 34.65% $37,008,138 34.76% ($7,345,252) $0 $597,895,254
<br />
<br />Exhibit 10
<br />
<br />
<br />City Council 22 – 491 9/17/2024
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