PROTOTYPE RESIDENTIAL DEVELOPMENTS
INCLUSIONARY HOUSING: FINANCIAL EVALUATION
MAY 2023
Apartment Development Scenarios: Five Acre Site
Description
Density
(Units /Acre)
T
otal Number
of Units Af fordability Requirements
Base Case: Current Zoning
Inclusionary Scenario 20 100 Based on Evaluation Results State Density Bonus Scenario 30 150 15 Very Low Income Units Rezoning Scenarios:
Value Enhancement Tests Based on Rezoning Standards Proposed in the Housing Element
Base Case 30 150
15 Very Low Income Units –
the Stabilized Return on
Investment is Used in the
Scenarios Testing
Scenario 1 35 175 15 Very Low Income Units +
Additional Low Income Units
Supported by the Value
Enhancement Analysis
Scenario 2 40 200
Scenario 3 50 250
Scenario 4 90 450
Ownership Housing Development Scenarios
Affordability Requirements Based on the Financial Evaluation Results Site Size
(Acres)
Density
(Units/Acre)
Total Number
of Units
Townhome Project 3.0 20 60
Live / Work Project 2.5 16 40
Condominium Project 2.0 25 50
ATTACHMENT 5