Scenario B: On‐Site Parking for Residents and Replacement of Public Parking Population
Served
Average
AMI
Total
Units
Unit Mix
Average
Unit
Size
(Squar
e Fee
t)
Persons
Hous
ed Parking
Stalls
Total
Stories
Height
(Feet)
Open
Space
(Square
Feet) Residential
Area
(Square
Fee
t)
Cost
per Unit
City Gap
per Unit Total
Development
Cos
t
Total
City
Gap
Alta Housing
Large Families
& Formerly
Homeless
44% 57
7% Studios
32% 1‐Beds
35% 2‐Beds
26% 3‐Beds
716 210 52 7 75 6,000 (above‐
grade only) 41,000 $1.23
million $73,000 $70.1 million $4.2 million
MidPen Housing Large Families 49% 61
18% Studios
28% 1‐Beds
29% 2‐Beds
25% 3‐Beds
766 207 62 7 74 4,000 (above‐
grade only) 47,000 $954,000 $155,000 $58.2 million $9.4 million Notes:
Percentages are rounded to the nearest whole number
Numbers over 1,000 have been rounded to the hundreds
Numbers over 10,000 have been rounded to the nearest thousands Numbers over 1,000,000 have been rounded to the nearest hundreds of thousands Large Family projects are required to include at least 25% 2‐Bedroom and at least 25% 3‐Bedroom units to qualify for certain types of funding.
Staff assumed one person per studio unit, and two people per bedroom in each of the other unit types to estimate the total number of persons housed under the various scenarios studied The preliminary average AMI level of each of the developer’s proposals are shown above; to receive a 9% Low Income Housing Tax Credit the project would be required to have a 50% AMI average across the project; for a 4% Low Income Housing Tax Credit the requirement is 59% AMI average across the project.