Developer Proposals Matrix

*Based on $400k average household assessment Supporting Material for the Upcoming Poll/Survey Compiled by the Academy Building Guidance Committee
    Dakota Womens/Hope R.A.L. Horton
Propsed Use 40 age-restricted
residential rental
apartments (studios
& 1 bedrooms).
80% affordable,
20% market rate
 28 residential rental
apartments (1 & 2
bedrooms). Low
income and market
rate
 20 residential condo
units (2 & 3
bedrooms). Market
rate: ($850,000 - $1.2M)
 Mixed use: 11,000sf
office and 21 rental
apartments (15
1bdrm, 6 2bdrm).
Office: market rate;
apartments: market
($1,900-$4,900)
Legal Sale Long term ground lease
 (minimum 50 years)		 Sale Sale
Purchase Price $250,000 Annual rental
payments TDB
 $250,000 + revenue
share of 15% of
sales over $700/psf
 $300,000 +
required property
relocations and
enhancements
valued at $175,000
Long Term
Management
 Property
management
company; Dakota
would retain
ownership at least
15 years
 Hope Partnership to
manage
 Managed by
homeowner
association
 Property
management
company; Horton
Group to retain
ownership
Annual Tax
Revenues
(Estimates by
Developers)
 $40,000/$6 per
household*
 TBD $375,000/$52 per
household*
 $170,000/$23 per
household*
Community
Space
 Gymnasium (shared
with residents)
 Theatre (shared
with residents)
 None None
Parking  43 spaces 50 spaces 33 spaces 63 spaces
Financing Factors Financing
contingency for
state funding and
tax credits
 Financing
contingency for
state funding,
brownfield grants,
and tax credits
 Self financed; no
contingencies
 Conventional
financing
contingency. Phased
construction (3
years)
Demolition &
Land use
 No demolition.
Land: Building
footprint, parking
and access drive
 No demolition.
Land: Building
foodprint, parking
and access drive.
Septic under fields.
 No demolition.
Land: Building
foodprint, parking
and access drive
 No demolition.
Land: Building
footprint, parking
and access drive.
Relocation of
basketball court, 1
ballfield, and
reconfiguration of
Chamber and Youth
Services parking
and septic for
additional parking