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<br />Washington Square Park Feasibility StudyCity of Santa Ana July 2025 <br />comparison to the two (2) comparable sales in the City are larger. Additionally, the Dantes and Hayden Trust <br />properties are located in a neighborhood that is considered to be more desirable with superior property <br />values compared to the neighborhoods for the two (2) comparable land sales in the City. The estimated <br />value for the Dantes and Hayden Trust properties would be $81.60 per square foot, and that would then be <br />applied to the lot size for each of these four (4) Dantes and Hayden Trust properties, as follows: <br />Vacant Residential <br />Single Family Land <br />Address <br />Dantes - Subject Dantes - <br />Property 1 Subject <br />None Assigned 1501 N Lowell None Assigned None Assigned 527 N Fairlawn 5325 W Silver <br />Dantes - <br />Subject <br />Hayden Trust <br />Subject <br />Most <br />Comparable <br />Comparable <br />Sale Property 2 <br />Assessor Parcel No. 405-321-08 405-321-09 <br />R-1 <br />405-321-13 <br />R-1 <br />405-321-14 <br />R-1 <br />007-051-43 <br />R-1 <br />099-212-57 <br />R-1ZoningR-1 <br />Land Use Vacant Vacant Vacant Vacant Vacant Vacant <br />Unimproved <br />16,337 <br />Unimproved <br />9,600 <br />Unimproved <br />17,775 <br />Unimproved <br />18,090 <br />Unimproved <br />6,093 <br />Unimproved <br />16,803Lot Square Feet <br />Lot Acres 0.375 0.22 0.41 0.42 0.14 0.39 <br />Last Sales Date <br />Last Sales Price <br />2/27/2025 <br />$452,000 <br />$74.18 <br />5/14/2025 <br />$1,000,000 <br />$59.51Last Sales Price Per <br />Square Foot <br />*$1,333,129 $783,378 $1,450,473 $1,476,177Estimated Value <br />* - Value of $81.60 per square foot is a 10% increase applied to the most comparable sale price per square foot of $74.18. <br />Additional Expenses - Relocation <br />The City is unaware if there are currently any residential tenants at 1501 N. Lowell or if there will be in the <br />future. In the Redfin listing there is no mention of residential tenants in the single-family house included in <br />the listing. If a tenant were to be occupying 1501 N. Lowell at the time that acquisition is considered the <br />following provides a summary of potential relocation benefits: <br /> <br /> <br /> <br />Information about available replacement housing units. <br />Help in identifying and obtaining suitable, comparable housing. <br />Explanation of relocation rights and benefits. <br />Rental Assistance for Replacement Housing - If the rent at a comparable replacement unit is higher <br />than what the tenant pays at 1501 N. Lowell, the tenant is eligible for a rent differential payment, calculated <br />over a 42-month period. For example: If the new rent is $200/month more than the old rent, the tenant may <br />receive up to $8,400 (200 × 42), subject to certain limits. <br />Additional rental assistance may cover security deposits, utility hookup fees, or credit checks required at the <br />Page 8 <br />  <br />  <br />City Council 10 – 12 9/16/2025