STONY BROOK UNIVERSITY Site Location: South CampusGraduate & Professional <strong>Student</strong> Housing Feasibility StudyProject Development BudgetProject BudgetSouth of Chapin South Campus South MedicalTotal Project Cost (provided by Sasaki) $70,145,129 $73,809,710 $72,732,288Total Project Cost/Bed (provided by Sasaki) $175,363 $184,524 $181,831Total Project Cost/Sq. Ft (provided by Sasaki) $335 $353 $348AssumptionsNew Square Footage 209,093 209,093 209,093Construction Cost/Square Foot $347 $371 $363*Notes:1 Total Project Costs provided by Sasaki / Vermeulens Cost Consultants 01/20/09.2 "South of Chapin" and "South Campus" project costs represent Phase 1 costs associated with demand of 400 beds.
STONY BROOK UNIVERSITYGraduate & Professional <strong>Student</strong> Housing Feasibility StudyRevenue AssumptionsYears Until Building Opening: 3Annual Rental Rate Escalation: 5%Annual Other Revenue Escalation:NADamages as % of Rental Revenue: 0%Laundry/Vending Revenue Per <strong>Student</strong> Per Year (at opening) $0Number of <strong>Student</strong>s per Resident Assistant: 200Number of Non-Revenue Generating Beds: 2Unit TypeRental Rate / Rental Rate /PersonPerson(2008 dollars) (at opening)*Lease Term(# months)Year 1Occupancy RateYear 2Occupancy RateStabilized YearsOccupancy RateYear 1Rental RevenueYear 2Rental RevenueYear 3Rental Revenue*Annual RentPer Unit**Annual RentPer NASF**Unit Type A - One-Bedroom ApartmentSingle Occupancy $1,450 $1,679 12 85% 90% 95% $1,712,000 $1,903,000 $2,110,000 $20,143 $40Unit Type B - Two-Bedroom ApartmentSingle Occupancy $1,000 $1,158 12 85% 90% 95% $3,542,000 $3,938,000 $4,365,000 $27,783 $41* Year 3 rental revenue is calculated using "Stabilized Years Occupancy Rate"** Assumes fully occupied unit for 12 months and "Rental Rate (at opening)"Note: Revenue assumptions provided by <strong>Stony</strong> <strong>Brook</strong> <strong>University</strong> Financial Services AdministratorTOTAL: $5,254,000 $5,841,000 $6,475,000Adjusted TOTAL: $5,254,000 $5,841,000 $6,475,000