the neighborhoods of tustin town center: a new ... - City of Tustin

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TABLE C-3 SITE 12 ALTERNATIVE B WEST VILLAGE STUDY AREA NET OPERATING INCOME FINANCIAL FEASIBILITY ANALYSIS FIELD PAOLI / CITY OF TUSTIN I. Gross Scheduled Income Leasable SF Rent/SF Total Annual Freestanding Retail 22,000 SF $1.75 /SF/Month/NNN $462,000 Retail (in residential building) 18,000 SF $1.50 /SF/Month/NNN $324,000 Total Gross Scheduled Income (GSI) 40,000 SF $1.64 /SF $786,000 (Less) Vacancy 5.0% of GSI ($39,000) II. Effective Gross Income $747,000 (Less) Unreimbursed Expenses - Retail 5.0% of EGI ($37,000) III. Net Operating Income $710,000 Capitalized Value of NOI @ 7.5% Going In Cap Rate $9,467,000 IV. Total Project Value $9,467,000 A-44 THE NEIGHBORHOODS OF TUSTIN TOWN CENTER MARKET ANALYSIS AND NEIGHBORHOOD CONCEPT PLANS STRATEGIC GUIDE 09.21.2010
TABLE C-4 SITE 12 ALTERNATIVE B WEST VILLAGE STUDY AREA NET OPERATING INCOME - RESIDENTIAL FINANCIAL FEASIBILITY ANALYSIS FIELD PAOLI / CITY OF TUSTIN I. Gross Scheduled Income Average Unit Size # of Monthly Total Units Rent/SF Rent Annual One-Bedroom @ 50% of AMI 800 SF 1 $1.03 $823 $10,000 One-Bedroom @ 110% of AMI 800 SF 2 $1.85 $1,480 (1) $36,000 One-Bedroom @ Market-Rate 800 SF 13 $1.85 $1,480 $231,000 Two-Bedroom @ 50% of AMI 1,000 SF 1 $0.92 $922 $11,000 Two-Bedroom @ 110% of AMI 1,000 SF 2 $1.75 $1,750 (1) $42,000 Two-Bedroom @ Market-Rate 1,000 SF 21 $1.75 $1,750 $441,000 Total/Average 925 SF 40 $1.74 $1,606 $771,000 Add: Other Income $10 /Unit/Month $5,000 (Less) Vacancy @ 5.0% of Income ($39,000) Effective Gross Income (EGI) $737,000 II. Operating Expenses (Less) Operating Expenses $4,500 /Unit/Year ($180,000) (Less) Property Taxes (2) $2,100 /Unit/Year ($85,000) (Less) Replacement Reserves $300 /Unit/Year ($12,000) Total Expenses $6,900 /Unit/Year ($277,000) 37.6% of EGI III. Net Operating Income $460,000 Capitalized Value of NOI @ 6.0% Cap Rate $7,667,000 IV. Total Project Value $7,667,000 (1) Calculation of moderate income rents exceed market-rate rents. Reflects downward adjustment to reflect achievable market rent. (2) Based on capitalized income approach, assumes a 1.10% tax rate and 6.0% cap rate. STRATEGIC GUIDE 09.21.2010 THE NEIGHBORHOODS OF TUSTIN TOWN CENTER A-45 MARKET ANALYSIS AND NEIGHBORHOOD CONCEPT PLANS
Page 1: APPENDIX THE NEIGHBORHOODS OF TUSTI
Page 5 and 6: Table of Contents APPENDIX A.1 Glos
Page 7 and 8: A.1 Glossary of Terms MAJOR IMPROVE
Page 9 and 10: A.2 Development Thresholds CENTER C
Page 11 and 12: WEST VILLAGE POTENTIAL NEW DEVELOPM
Page 13 and 14: OPPORTUNITY SITES - COMPARISON OF D
Page 15 and 16: Table 1 LEVEL OF SERVICE DESCRIPTIO
Page 17 and 18: CENTER CITY TRAFFIC EVALUATION For
Page 19 and 20: Table 2 TUSTIN TOWN CENTER - CENTER
Page 21 and 22: SOUTHERN GATEWAY NEIGHBORHOOD - ALT
Page 23 and 24: Table 3 TUSTIN TOWN CENTER - SOUTHE
Page 25 and 26: WEST VILLAGE NEIGHBORHOOD - ALTERNA
Page 27 and 28: Center City Newport Avenue at El Ca
Page 29 and 30: INTERSECTION LOCATION MAP EXISTING
Page 31 and 32: 5. Red Hill & I-5 NB Ramps (6/14 &
Page 33 and 34: 13. Williams & McFadden (2005) 14.
Page 35 and 36: SUMMARY TABLE FINANCIAL FEASIBILITY
Page 37 and 38: B. Center City, Site 3 (Alternative
Page 39 and 40: Total Development Costs KMA anticip
Page 41 and 42: Net Operating Income - Residential
Page 43 and 44: TABLE A-2 SITE 3 ALTERNATIVE B CENT
Page 45 and 46: Site 9 Alternative B Pro Forma Anal
Page 47 and 48: TABLE B-3 SITE 9 ALTERNATIVE B SOUT
Page 49: TABLE C-2 SITE 12 ALTERNATIVE B WES
Page 53 and 54: TABLE C-6 SITE 12 ALTERNATIVE B WES
Page 55 and 56: The Redevelopment Agency recognizes
Page 57 and 58: STRATEGIC GUIDE 09.21.2010 THE NEIG
Page 69 and 70: Area Circulation Public Transit TUS
Page 71 and 72: Residential Development Opportuniti
Page 73 and 74: For Next Meeting Please tell us: Di
Page 75 and 76: Southern Gateway Character Southern
Page 77 and 78: West Village Character West Village
Page 79 and 80: C: In some cases it may be OK to us
Page 81 and 82: West Village - Comments (C), Q&A C:
Page 83 and 84: A.6.3 WORKSHOP #2 - MATERIALS Note:
Page 85 and 86: Public Comments from Workshop #1 EL
Page 87 and 88: Opportunity Sites 1,2 & 3 SITE FEAT
Page 89 and 90: Existing Conditions Existing Condit
Page 91 and 92: Key Differences between Alternative
Page 93 and 94: Opportunity Sites 8 & 9: Alternativ
Page 95 and 96: Existing Conditions Existing Condit
Page 97 and 98: Key Differences between Alternative
Page 99 and 100: Opportunity Sites 14 & 15: Alternat
Page 101 and 102:
A.6.4 WORKSHOP #2 - PUBLIC COMMENTS
Page 103 and 104:
City Center ALTERNATIVE B POSITIVE
Page 105 and 106:
Southern Gateway Neighborhood Discu
Page 107 and 108:
Southern Gateway ALTERNATIVE B POSI
Page 109 and 110:
West Village Neighborhood Discussio
Page 111 and 112:
West Village ALT A. SITES 12-13 POS
Page 113 and 114:
SIGN IN SHEET September 29, 2009 6:
Page 115 and 116:
ATTENDEE LIST BY ADDRESS SIGN IN SH
Page 117 and 118:
SIGN IN SHEET October 6, 2008 Commu
Page 120:
150 CALIFORNIA 7TH FLOOR SAN FRANCI
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