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ta <br />www.FinanceDTA.com <br />Table 14: Hotel Construction Costs <br />SECTION VII <br />HOSPITALITY <br />Rooms/Total SF <br />250 Rooms <br />140,000 SF <br />Room SF <br />100,000 SF <br />Land <br />$0 <br />$0.00/SF <br />$0 <br />Vertical Costs <br />$197,960/DU <br />$353.50/SF <br />$49,490,000 <br />Land Development Soft Costs <br />$3,699/DU <br />$6.60/SF <br />$924,634 <br />Lot Development Direct Costs <br />$18,897/DU <br />$33.75/SF <br />$4,724,369 <br />Share of Backbone Costs <br />$7,106/DU <br />$12.69/SF <br />$1,776,413 <br />Indirect Costs <br />4.00% <br />$19,872/DU <br />$35.49/SF <br />$4,968,016 <br />Marketing and Sales <br />2.00% <br />$378/DU <br />$0.68/SF <br />$94,619 <br />Finance Costs <br />5.00% <br />$9,501/DU <br />$16.97/SF <br />$2,375,290 <br />Total Costs <br />$257,413/DU <br />$459.67/SF <br />$64,353,341 <br />A Hospitality Summary <br />We believe the 2-Mile Zone could accommodate another Upper Upscale since the hotel occupancy in the <br />2-Mile Zone is close to 75% and has strong RevPAR characteristics. Below is a summary indicating that <br />the "Excess of Value over Costs" for the proposed hotel is 32%, a margin that in a normal market would <br />attract a developer and investors to finance the construction of a hotel property. <br />Table 15: Excess of Value Over Costs <br />Description <br />Hotel Value <br />$94,619,000 <br />100.00% <br />Hotel Costs <br />($64,353,000) <br />(68.01%) <br />Excess of Value over Costs <br />$30,266,000 <br />31.99% <br />B Congregate Care <br />A congregate care facility focuses on providing a stable environment for people who have difficulty in <br />living independently related to physical, emotional, or social abilities. Since each tenant in a congregate <br />care facility has different needs, these facilities offer various services to assist them. Congregate care <br />residences generally receive care tailored to their specific needs, thereby providing a maintenance -free <br />lifestyle. The types of care available include well-balanced meals, physical and mental stimulation, <br />establishment of a purpose for life, social interaction, and the provision of stimulation for the the mind <br />and body to achieve a more comfortable life for a person requiring their services. <br />The primary difference between assisted living facilities and nursing homes is the medical services <br />provided. Residents in an assisted living facility often live independently in their own units whereas <br />tenants in a nursing home usually require around -the -clock medical support or monitoring. <br />The services that congregate care facilities offer vary by facility but may include the amenities listed below. <br />• Personalized service up to 24 hours a day; <br />• Individual care planning: <br />• Up to three meals a day; <br />Related Bristol at 3600 South Bristol Street <br />Draft Market Study Report <br />• Housekeeping services; <br />• Utilities and basic cable; <br />■ In -home maintenance; <br />September 2023 <br />Exhibit 10 <br />32 <br />