ATTACHMENT 1
Affirmed Housing
(Under Consideration) 87 E Evelyn Avenue 268 479 $224,307,566 $836,969 $468,283 $21,000,000 $78,358 $43,841 Charities Housing
(Under Consideration) 57-67 Evelyn Avenue 143 255 $136,900,500 $957,346 $536,865 $11,300,000 $79,021 $44,314 Danco Communities
(Funding Reserved 2023)
West El Camino Family
Apartments 79 142 $78,715,705 $996,401 $554,336 $8,000,000 $101,266 $56,338 Alta Housing
(Funding Reserved 2023) Linda Vista Apartments 70 128 $86,063,906 $1,229,484 $672,374 $10,000,000 $142,857 $78,125 Jamboree Housing
(Funding Reserved 2021, 2022, 2023)
The Heartwood
Apartments 49 61 $17,312,354 $353,313 $283,809 $9,050,732 $184,709 $148,373 Alta Housing
(Funding Reserved 2021) Lot 12 120 211 $121,612,389 $1,013,437 $576,362 $17,250,000 $143,750 $81,754 MidPen Housing
(2020)
Shorebreeze Apartments
Expansion 62 94 $38,096,381 $614,458 $405,281 $8,157,608 $131,574 $86,783 Total 1338 2163 $1,137,622,487 $10,733,714 $6,959,682 $181,731,184 $1,951,987 $1,389,742 Average 103 166 $87,509,422 $825,670 $535,360 $13,979,322 $150,153 $106,903 Median 85 142 $78,715,705 $836,969 $554,336 $13,500,000 $142,857 $86,783 NOTE: The 87 E Evelyn Ave project will be developed on City owned land. The City subsidy includes the amount paid by the City to acquire the site. $106,667
$570,207 $13,500,000 $125,000
$552,608 $8,000,000 $119,403 $117,647
$740,197 $22,772,844 $320,744 $316,290
$69,948
$591,348 $16,000,000 $188,235
$347,730 $21,700,000 $187,069 $113,613
Alta Housing
(2019) Eagle Park Apartments 67 68 $37,577,326 $560,856 ROEM Development Corp.
(2019) Evelyn Family Apartments 116 191 $66,416,378 $572,555 $660,283 $15,000,000 $150,000 $126,050
$750,623
$785,736
Alta Housing
(2021) Luna Vista Apartments 71 72 $53,294,200
Eden Housing
(Funding Reserved 2020) La Avenida Apartments 100 119 $78,573,646 $1,043,555
Alta Housing
(Funding Reserved 2022) Terra Bella Apartments 108 193 110,049,976 $1,018,981 Charities Housing
(Funding Reserved 2021) Montecito Apartments 85 150 $88,702,160
COST ANALYSIS COMPARISONS FOR NOFA AND CITY-OWNED PROJECTS Development Name No. of Units No. of Bedrooms Total Development Cost Cost Per Unit Cost Per Bedroom City SubsidySponsor (Year Completed)
City Subsidy
Per Unit
City Subsidy
Per Bedroom