Allen Wilson Phase III, Decatur, GA; Market Study To place Person Dem<strong>and</strong> into Bedroom Type Units Of one-person households in 1BR units 90% 2,637 Of two-person households in 1BR units 20% 358 Of one-person households in 2BR units 10% 293 Of two-person households in 2BR units 80% 1,432 Of three-person households in 2BR units 60% 474 Of three-person households in 3BR units 40% 316 Of four-person households in 3BR units 80% 418 Of five-person households in 3BR units 70% 359 Of four-person households in 4BR units 20% 104 Of five-person households in 4BR units 30% 154 Total Dem<strong>and</strong> 6,544 Check OK Total Dem<strong>and</strong> by Bedroom 60% 1 BR 2,995 2 BR 2,198 3 BR 1,093 Total Dem<strong>and</strong> 6,286 Additions To Supply 2010 to Prj Mrkt Entry June 2014 60% 1 BR 8 2 BR 16 3 BR 16 Total 40 Net Dem<strong>and</strong> 60% 1 BR 2,987 2 BR 2,182 3 BR 1,077 Total 6,246 Developer's Unit Mix 60% 1 BR 5 2 BR 41 3 BR 14 Total 60 Novogradac & Company, LLP 56
Allen Wilson Phase III, Decatur, GA; Market Study Overall Calculation <strong>of</strong> Potential Household Dem<strong>and</strong> by Income Cohort by % <strong>of</strong> AMI Percent <strong>of</strong> AMI Level Overall Minimum Income Limit $0 Maximum Income Limit $44,940 5 Persons Income Category New Renter Households - Total Change in Households PMA 2000 to Prj Mrkt Entry June 2014 Income Brackets Percent within Cohort Renter Households within Bracket $0-9,999 452 14.0% 9,999 100.0% 452 $10,000-19,999 471 14.6% 9,999 100.0% 471 $20,000-29,999 398 12.3% 9,999 100.0% 398 $30,000-39,999 374 11.6% 9,999 100.0% 374 $40,000-49,999 358 11.1% 4,940 49.4% 177 $50,000-59,999 249 7.7% 0.0% 0 $60,000-74,999 208 6.4% 0.0% 0 $75,000-99,999 218 6.8% 0.0% 0 $100,000+ 497 15.4% 0.0% 0 3,227 100.0% 1,873 Percent <strong>of</strong> renter households within limits versus total number <strong>of</strong> renter households 58.04% Check OK Calculation <strong>of</strong> New Renter Household Dem<strong>and</strong> by Income Cohort by % <strong>of</strong> AMI Percent <strong>of</strong> AMI Level Overall 0% Minimum Income Limit $0 $0 Maximum Income Limit $44,940 5 Persons $0 Total Renter Households PMA Prj Households within Income Category Mrkt Entry June 2014 Income Brackets Percent within Cohort Bracket Income Brackets $0-9,999 2,925 14.0% 9,999 100.0% 2,925 0 $10,000-19,999 3,048 14.6% 9,999 100.0% 3,048 0 $20,000-29,999 2,574 12.3% 9,999 100.0% 2,574 0 $30,000-39,999 2,421 11.6% 9,999 100.0% 2,421 0 $40,000-49,999 2,313 11.1% 4,940 49.4% 1,143 0 $50,000-59,999 1,612 7.7% 0 0.0% 0 0 $60,000-74,999 1,346 6.4% 0 0.0% 0 $75,000-99,999 1,410 6.8% 0 0.0% 0 $100,000+ 3,216 15.4% 0 0.0% 0 20,864 100.0% 12,110 Percent <strong>of</strong> renter households within limits versus total number <strong>of</strong> renter households 58.04% Check OK Does the Project Benefit from Rent Subsidy? (Y/N) No Type <strong>of</strong> Housing (Family vs Senior) Family Location <strong>of</strong> Subject (Rural versus Urban) Urban Percent <strong>of</strong> Income for Housing 35% 2000 Median Income $44,023 Projected Mkt Entry June 2014 Median Income $66,317 Change from 2000 to Prj Mrkt Entry June 2014 $22,294 Total Percent Change 50.6% Average Annual Change 8.4% Inflation Rate 8.4% Two year adjustment 1.0000 Maximum Allowable Income $44,940 Maximum Allowable Income Inflation Adjusted $44,940 Maximum Number <strong>of</strong> Occupants 5 Persons Rent Income Categories Overall Initial Gross Rent for Smallest Unit $0 Initial Gross Rent for Smallest Unit Inflation Adjusted $0.00 Persons in Household 0BR 1BR 2BR 3BR 4BR 5BR Total 1 0% 90% 10% 0% 0% 0% 100% 2 0% 20% 80% 0% 0% 0% 100% 3 0% 0% 60% 40% 0% 0% 100% 4 0% 0% 0% 80% 20% 0% 100% 5+ 0% 0% 0% 70% 30% 0% 100% Novogradac & Company, LLP 57
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A MARKET CONDITIONS AND PROJECT EVA
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Mr. Douglas S. Faust Executive Dire
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author or the firm with which he or
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TABLE OF CONTENTS A. EXECUTIVE SUMM
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EXECUTIVE SUMMARY AND CONCLUSIONS A
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Allen Wilson Phase III, Decatur, GA
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- Page 17 and 18: B. PROJECT DESCRIPTION
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- Page 41 and 42: F. EMPLOYMENT TRENDS
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- Page 51 and 52: PROJECT-SPECIFIC DEMAND ANALYSIS
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Allen Wilson Phase III, Decatur, GA
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I. Education STATEMENT OF PROFESSIO
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H. Blair Kincer Qualifications Page
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STATEMENT OF PROFESSIONAL QUALIFICA