Attachment 2
MHT-WC-AS/6/CDD
843-08-30-22SS-Att2
COMPARISON NOFA PROJECTS
Sponsor
Development Name No. of
Units
No. of
Bedrooms
Total
Development
Cost
Cost Per
Unit
Cost Per
Bedroom City Subsidy
City
Subsidy City Subsidy
(Year Completed) Per Unit Per
Bedroom
Charities Housing Montecito
Apartments 85 150 $88,702,160 $1,043,555 $591,348 $16,000,000 $188,235 $106,666 1265 Montecito Avenue (Funding Reserved 6/22/21)
Eden Housing La Avenida
Apartments 100 119 $78,573,646 $785,736 $660,283 $15,000,000 $150,000 $126,050 (Funding Reserved 12/8/20)
Alta Housing Luna Vista
Apartments 71 72 $53,294,200 $750,623 $740,197 $22,772,844 $320,744 $316,290 (2021) MidPen Housing Shorebreeze
Apartments
Expansion
62 94 $38,096,381 $614,458 $405,281 $8,157,608 $131,574 $86,783 (2020)
ROEM Development Corp. Evelyn Family
Apartments 116 191 $66,416,378 $572,555 $347,730 $21,700,000 $187,069 $113,613 (2019)
Alta Housing Eagle Park
Apartments 67 68 $37,577,326 $560,856 $552,608 $8,000,000 $119,403 $117,647 (2019) First Community Housing
1585 Studios 27 27 $10,468,465 $387,721 $387,721 $3,287,550 $121,761 $121,761 (2015) ROEM/Eden Housing Studio 819
Apartments 49 49 $17,396,762 $355,036 $355,036 $8,952,623 $182,707 $182,707 (2015)
Total 577 770 $390,525,318 $5,070,540 $4,040,204 $103,870,625 $1,401,493 $1,171,517 Average 72 96 $48,815,665 $676,614 $505,026 $12,983,828 $175,187 $146,440 Median 69 83 $45,695,291 $593,507 $478,945 $11,976,312 $166,354 $119,704