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. Subsidized Following is a distribution of government subsidized units surveyed by unit type and vacancy rate: SUMMARY OF CONVENTIONAL GOVERNMENT SUBSIDIZED APARTMENTS ALBANY, GEORGIA MAY 2002 GOVERNMENT SUBSIDIZED UNITS UNIT TYPE NUMBER PERCENT VACANCY RATE STUDIO 19 1.7% 0.0% ONE-BEDROOM 335 29.6% 0.0% TWO-BEDROOM 403 35.6% 0.0% THREE-BEDROOM 307 27.1% 0.0% FOUR-BEDROOM 69 6.1% 0.0% TOTAL 1,133 100.0% 0.0% There are no vacancies among the subsidized projects in the EMA, and the market appears limited by supply rather than demand. The Albany Housing Authority currently has a list of 73 people waiting for Section 8 Voucher assistance in Albany. IV-40
An evaluation of units renting at or below the proposed Tax Credit and market-rate rents follows: UNIT TYPE ONE-BEDROOM/1.0 BATH 60% MARKET-RATE TWO-BEDROOM/1.0 BATH 60% MARKET-RATE TWO-BEDROOM/1.5 BATH 60% MARKET-RATE TWO-BEDROOM/2.0 BATH 60% MARKET-RATE THREE-BEDROOM/2.0 BATH 60% MARKET-RATE THREE-BEDROOM/2.5 BATH 60% MARKET-RATE PROPOSED UNITS AT OR BELOW PROPOSED RENT NET RENT NUMBER PERCENT VACANCY IV-41 $384 $485 $430 $545 $475 $590 $455 $590 $520 $650 $550 $690 349 1,252 573 1,958 1,136 2,160 955 2,160 395 1,019 745 1,030 25.8% 92.5% 24.9% 85.2% 49.4% 94.0% 41.6% 94.0% 37.5% 96.7% 70.8% 97.9% As the above table illustrates, proposed Tax Credit gross rents are an excellent value when compared with existing rents. The market-rate rents will be among the highest in the market for each proposed unit type. 2.0% 3.9% 6.6% 5.6% 5.2% 5.4% 5.3% 5.4% 4.3% 3.0% 3.1% 3.1%
Page 1 and 2:
National Leaders in Real Estate Res
Page 3 and 4: TABLE OF CONTENTS I. INTRODUCTION..
Page 5 and 6: I. INTRODUCTION A. OBJECTIVES This
Page 7 and 8: II. SCOPE OF SURVEY A complete anal
Page 9 and 10: • Tenants will be responsible for
Page 11 and 12: APARTMENT MARKET AREA SUMMARY UNITS
Page 13 and 14: • The project amenities the propo
Page 15 and 16: IV. CONCLUSIONS A. INTRODUCTION Thi
Page 17 and 18: the Site EMA's established annual r
Page 19 and 20: West East Jackson Street is directl
Page 21 and 22: Population and Households The popul
Page 23 and 24: 3. SITE EVALUATION Demand for the s
Page 25 and 26: Convenience to Entertainment The si
Page 27 and 28: e. Site Evaluation Conclusions Base
Page 29 and 30: SOUTH BORDER SITE SITE SOUTHWEST BO
Page 31 and 32: ��
Page 33 and 34: Jefferson Jefferson Jefferson Jeffe
Page 35 and 36: ��
Page 37 and 38: DISTRIBUTION OF POPULATION BY AGE A
Page 39 and 40: There were 39,656 total housing uni
Page 41 and 42: The following table summarizes empl
Page 43 and 44: 44,000 40,000 36,000 EMPLOYMENT AND
Page 45 and 46: ��
Page 47 and 48: The following table compares the cu
Page 49 and 50: Our demand analysis for the propose
Page 51 and 52: DEMAND BY TARGETED INCOME GROUP PER
Page 53: a. Market-Rate Following is a distr
Page 57 and 58: A comparison of unit amenities at t
Page 59 and 60: TWO-BEDROOM COMPARISON TOTAL VACANT
Page 61 and 62: ecipient) is 1 to 2 per month. Howe
Page 63 and 64: 3. APARTMENT LOCATION MAP Maps desi
Page 65 and 66: 4. FEDERAL AND STATE-ASSISTED PROJE
Page 67 and 68: 6. PLANNED AND PROPOSED According t
Page 69 and 70: V. FIELD SURVEY OF MODERN APARTMENT
Page 71 and 72: YEAR OF PROJECT OPENING NUMBER OF P
Page 73 and 74: RENT AND VACANCY ANALYSIS TWO BEDRO
Page 75 and 76: MAP CODE PROJECT NAME 1 TOWERING PI
Page 77 and 78: MAP CODE PROJECT NAME 13 GREENBRIAR
Page 79 and 80: MAP CODE PROJECT NAME 25 REGENCY CL
Page 81 and 82: MAP CODE PROJECT NAME 37 THE OAKS 2
Page 83 and 84: MAP CODE PROJECT NAME 49 MC INTOSH
Page 85 and 86: MAP CODE 1 2 3 4 5 6 7 8 9 10 11 12
Page 87 and 88: MAP CODE 37 38 39 40 41 42 43 44 45
Page 89 and 90: COMPARABILITY INDEX MODERN APARTMEN
Page 95 and 96: MAP PROJECT CODE NAME 13 GREENBRIAR
Page 97 and 98: MAP PROJECT CODE NAME 37 THE OAKS 3
Page 99 and 100: MAP PROJECT CODE NAME EGNAR UNIT AM
Page 101 and 102: MAP PROJECT CODE NAME EGNAR ROTAREG
Page 103 and 104: MAP PROJECT CODE NAME EGNAR 45 HOLL
Page 105 and 106:
UNIT AMENITIES DISTRIBUTION OF UNIT
Page 107 and 108:
MAP CODE UNIT TYPE / UTILITY DETAIL
Page 109 and 110:
MAP CODE UNIT TYPE / UTILITY DETAIL
Page 111 and 112:
1 TOWERING PINES TOWERING PINES LN.
Page 113 and 114:
7 THE WILLOWS 1401 WHISPERING PINES
Page 115 and 116:
13 GREENBRIAR 3110 GRAYSTONE LN. AL
Page 117 and 118:
19 GLENWOOD MANOR 2315 W. GORDON AV
Page 119 and 120:
25 REGENCY CLUB 2000 TOMPKINS AVE.
Page 121 and 122:
31 PRINCETON PLACE 539 N. WESTOVER
Page 123 and 124:
37 THE OAKS 2024 W. OGLETHORPE AVE.
Page 125 and 126:
43 PATE HOMES 200 ARBOR CT. ALBANY
Page 127 and 128:
49 MC INTOSH HOMES 618 N. DAVIS ST.
Page 129 and 130:
55 WOODPINE WAY 421 SOUTH WESTOVER
Page 131 and 132:
VII. HOUSING STARTS In an analysis
Page 133 and 134:
UNITS HOUSING UNITS AUTHORIZED DOUG
Page 135 and 136:
Population Characteristics —2000
Page 137 and 138:
HOUSEHOLD DETAIL REPORT ALBANY, GEO
Page 139 and 140:
B. INCOME MEDIAN PER HOUSEHOLD INCO
Page 141 and 142:
DISTRIBUTION OF TOTAL PERSONAL INCO
Page 143 and 144:
D. RETAIL SALES 2001 VIII-10 DOUGHE
Page 145 and 146:
44,000 40,000 36,000 EMPLOYMENT AND
Page 147 and 148:
UNITS BY STRUCTURE AND VACANCY RATE
Page 149 and 150:
HOUSING QUALITY ALBANY AND DOUGHERT
Page 151 and 152:
OWNER OCCUPANCY SUMMARY ALBANY AND
Page 153 and 154:
Qualifications and Services About t
Page 155 and 156:
for present and future development
Page 157:
Consulting—In addition to market
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