|
05 FINANCIALS / CAPITAL BUDGET
<br />Capital Budget
<br />33
<br />Project: Creative Village Development Budget
<br />Scenario: 409 Units 14 Story
<br />Description Total Budget $s / Unit $s / NSF
<br />LAND ACQUISITION
<br />Purchase Price 5,317,000 13,000 17.43
<br />Closing Costs & Fees 43,490 106 0.14
<br />Commissions 159,510 390 0.52
<br />Real Estate Taxes 150,000 367 0.49
<br />Land Costs 5,670,000 13,863 18.59
<br />SOFT COSTS
<br />Legal & Organizational 500,000 1,222 1.64
<br />Architect & Engineering 3,270,000 7,995 10.72
<br />Permits & Fees 4,509,759 11,026 14.78
<br />Furniture, Fixtures & Equipment 1,680,000 4,108 5.51
<br />Marketing 275,000 672 0.90
<br />Retail Commissions 149,464 365 0.49
<br />Financing Fees 1,895,286 4,634 6.21
<br />Interest Expense Reserve 2,310,532 5,649 7.57
<br />JV Administration Fee 120,000 293 0.39
<br />Development Fee (3.0%)2,897,169 7,084 9.50
<br />Construction Admin Fee (0.5% HC)413,185 1,010 1.35
<br />Operating Deficits (0.5% HC)112,773 276 0.37
<br />Soft Cost Contingency 523,914 1,281 1.72
<br />Total Soft Costs 18,657,082 45,616 61.16
<br />HARD COSTS
<br />G.C. Contract - GMP 77,380,518 189,194 253.65
<br />Low Voltage Allowance 450,000 1,100 1.48
<br />DAS System Allowance 200,000 489 0.66
<br />Courtyard Hardscape Allowance 250,000 611 0.82
<br />Tenant Improvement Allowance 487,500 1,192 1.60
<br />Builders Risk Insurance 335,874 821 1.10
<br />Developer HC Contingency (5.0%)3,869,026 9,460 12.68
<br />Total Hard Costs 82,972,918 202,868 271.98
<br />Total Project Cost 107,300,000 262,347 351.73
<br />As of: January 25, 2018
|