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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?