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ta <br />www.FinanceDTA.com <br />III PROJECT ASSUMPTIONS <br />A Cost Assumptions <br />SECTION III <br />PROJECT ASSUMPTIONS <br />In preparing the cost estimate, DTA reviewed similar projects in the local marketplace, City <br />planning and engineering standards, planning fees, and DIFs. <br />It should be noted that the vertical budget for retail uses includes tenant improvement and <br />special equipment allowances. <br />B Land Residual Basic Assumptions <br />Below is a summary of the Project by phase. <br />Table 13: Product Summary by Product and Phase <br />Apartment <br />2,376 DU <br />797 DU <br />577 DU <br />3,750 DU <br />Commercial <br />158,655 SF <br />75,112 SF <br />116,233 SF <br />350,000 SF <br />Hotel <br />140,000 SF <br />0 SF <br />0 SF <br />140,000 SF <br />Congregate <br />192,000 SF <br />0 SF <br />0 SF <br />192,000 SF <br />Parking Spaces <br />1,788 Spaces <br />664 Spaces <br />1,444 Spaces <br />3,896 Spaces <br />We prepared budgets for each cost category by phase and product type. <br />1. We did not include any land costs in the analysis since the property is not being <br />purchased, but we have been informed that the property is subject to a 99-year <br />ground lease. We have also been informed that the lease payments during <br />construction are "negligible." <br />2. Land improvement indirect costs include civil engineering, soils engineering, <br />environmental processing, development consulting, planning fees, deposits, <br />permits, DIFs, bonds, mitigation costs, water purchase, easement acquisition, and the <br />lot improvement indirect contingency. <br />Related Bristol at 3600 South Bristol Street <br />Land Residual Value Study Report <br />Exhibit 10 <br />September 27, 2023 <br />14 <br />