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Development Cost Comparison <br />Low Income Housing <br />Low Income Housing <br />Project Description <br />Apartments <br />Apartments <br />Year <br />2019 <br />2020 <br /># of Residential Units <br />165 <br />86 <br /># of Parking Stalls <br />209 <br />120 <br /># of Stories <br />2-4 stories <br />2-4 stories <br />Construction Type <br />Wood frame construction <br />Wood frame construction <br />Surface Parking <br />Surface Parking <br />Site Acreage <br />5.1 <br />2.3 <br />Location <br />Central Orange County <br />Central Orange County <br />Labor Description <br />No prevailing wage <br />Prevailing wage required <br />No PLA <br />No PLA <br />Total Square Footage [21 <br />101,271 sf <br />65,130 sf <br />Total Development Cost [31 $46,300,000 $35,100,000 <br />$457 /sf $539 /sf <br />Development Cost Increase $82 /sf <br />Notes: <br />[1] Project name has been hidden to protect confidentiality. <br />[2] Total square footage as defined by the HOO. <br />[3] Total Development Cost is net of land in order to establish an apples to apples comparison <br />