65A - JAIL REUSE STUDY - Laserfiche WebLink

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to Santa Ana courthouses. The proximity of the Santa Ana Jail site to the courthouses within walking distance could be a draw for certain types of tenants (attorneys, paralegals, etc.). Repurposing the kitchen and adding a dining area for reuse as a restaurant would make good use of existing high-end equipment and fixtures and provide yet another potential income resource. Workspace pricing for similar office space facilities in Anaheim and Costa Mesa ranges from $300 to $400 per person / per month (on a minimum 24 -month lease agreement). In Irvine and Orange, it ranges from $400 to $500. As outlined in the Table below, ten executive offices with 250 SF each, rented for $5,000 / month equates to $50,000 gross revenue, less expenses. Many more offices can be provided at 150 SF (medium), and 100 SF (small), plus enumerable shared cubicles, gathering and conference rooms. Also, memberships are also common to companies with co -work office space. There are templates available to calculate this income, along with some ideas on how much cost and income can be expected as the facility becomes occupied (see resource item' below). Please note that the template uses floor space available on a one-story facility, so it shows figures at far less than what is possible with the Santa Ana Jail with its existing four-story structure. By further researching the local co -work office space market, the City can get a better feel as to the type of designs that are most popular and in demand in and around the Santa Ana Jail. Additionally, the City will need to determine the type of shared workspace they will provide, or if the intent is to convert it into one large office space for one organization only. The following Table highlights typical themes offered by the workspace businesses those that young professionals would expect. 93 65A-100 Ana City Office Reuse Sample Revenue Jail Commercial OptionSanta Streams Office Square Footage Monthly Rate Offices Available Total Gross Revenue 250 sf $5,000 10 $50,000 150 sf $3,000 6 $18,000 100 sf $2,000 40 $80,000 By further researching the local co -work office space market, the City can get a better feel as to the type of designs that are most popular and in demand in and around the Santa Ana Jail. Additionally, the City will need to determine the type of shared workspace they will provide, or if the intent is to convert it into one large office space for one organization only. The following Table highlights typical themes offered by the workspace businesses those that young professionals would expect. 93 65A-100