THE DISTRICTImproving housing quality standards, promoting economic growth and retaining community

culture

TEAM OVERVIEW

➤ Jeff Burton

➤ Jennifer Shepperd

➤ Shawonnia Wade

➤ Ashley Washington

➤ Joanna Lopez Walker

PROJECT OVERVIEWFirst phase of a multi-family, in-fill, townhouse development in East Tampa

DEVELOPMENT SCHEME AND SITE PLAN

Zone: RM-18

Acreage: .57 acres

Land Use: Multi-family

Total Living Space: ~7,200 sq. ft

10 Units

SITE RENDERING

Two story townhouse development with parking in the rear

FLOOR PLANS

1 Bedroom/1 Bath Room: 650 sq. ft. 2 Bedroom/2 Bath Room: 800 sq. ft.

CURRENT INFRASTRUCTURE

Pre-existing storm drainage,

water, and sewer

infrastructure

ENVIRONMENTAL CONSTRAINTS & REGULATORY ISSUES

MARKET ANALYSISRetain community culture

SIMILAR DEVELOPMENTS IN THE AREA ➤ Fully occupied ➤ Primarily single family

THE NEIGHBORHOOD

Local Schools: ➤ Middleton High School ➤ Ferrell Middle Magnet

School Lomax Magnet Elementary

➤ Potter Elementary ➤ Sago Palm Educational

Academy ➤ Young Middle Magnet ➤ Orange Grove Middle

Magnet School ➤ Carver Exceptional

Center ➤ P.A.C.E. Center for Girls

Local Shopping: ➤ Publix Supermarket ➤ Winn-Dixie ➤ Gita Food Store ➤ Mega Supermarket ➤ 22th Ave. Meat Market ➤ Suncoast Grocery Inc ➤ Save-A-Lot

NEIGHBORHOOD DEMOGRAPHICS

Primarily single parent households with children Community is mainly single family detached homes

RENTAL STATISTICS

Primarily one and two bedroom unit households paying between $750-$1,000 per month in rent.

# of Households per Rent Category

1 bedroom

0

3500

7000

10500

14000

<$300 <$500 <$750 <$1,000 >$1,000

<$300<$500<$750<$1,000>$1,000

INCOME STATISTICS

~62% of the household income is above $25,000 annually

7,000 12,500 18,000 23,500 29,000 34,500 40,000

13,837

13,188

11,708

34,669<$25,000$25,000-34,999$35,000-49,999$50,000-74,999$75,000-$99,999

COMMUNITY IMPACT

Improve housing quality standards

COMMUNITY ENGAGEMENT STRATEGY

East Tampa Community Revitalization Partnership Strategic PlanOutreach

Engagement

Newsletters

Affordable Housing

Incentives to Foster

Investments

Information Flow

FINANCIAL ANALYSIS

Promote sustainable economic growth

FINANCING SOURCES

Predevelopment Loan Program

➤ Available only to nonprofits, community-based organizations and public housing authorities

➤ The maximum loan amount is $750,000

➤ The loan carries an interest rate of 1% ➤ payments deferred until

construction financing is closed

➤ 15-year compliance period, 20% of the units must be affordable

PRO-FORMA FINANCIAL ANALYSIS

Cost AnalysisCost of Development $835,267

Equity Capital Contribution $250,580 30%

Debt Financing $584,687 70%

Breakeven (years) 5

Performance Ratios

Stablized Cap on Cost 1st Year 11.34%

Build, Hold & Rent strategy

UNIT MIX AND REVENUE ANALYSIS

Floor Plan Details Rent

Floor Plan Bedroom Bathroom % of Unit Type

Unit Count Sq. Ft Per Unit Unit

Income

1A 1 1 10% 1 650 $815 $815

2A 2 2 10% 1 800 $1,014 $1,014

1MR 1 1 40% 4 650 $975 $3,900

2MR 2 2 40% 4 800 $1,200 $4,800

TOTALS 10 $4,004 $10,529

Estimated Annual Income $126,348

DEVELOPMENT BUDGET Per Sq. Ft Per Unit Total

Total Land Costs $12.55 $9,100 $91,000

Hard Costs $87.55 $63,474 $634,738

Soft CostsArchitect/Engineer Costs $3.60 $2,610 $26,100

Marketing Costs $0.87 $631 $6,308

General & Administrative $9.60 $6,962 $69,622

Financing Costs $1.03 $750 $7,500

Total Development Costs $115.21 $83,527 $835,267

“Improving housing quality standards, promoting economic growth and retaining community culture

- The District

QUESTIONS?