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Every analysis, breakdown and explainer, newest first.
Public Finance
Tax-exempt bonds, public land, patient equity, revolving loans, grants and tax abatements each lower required rent on a modeled 120-unit building. Each also has a payer. Here is what every model is worth per month.
Parking
Surface, tuck-under, structured or underground: each kind of parking space has a construction cost, and each dollar of it must be recovered in rent. We work through what a parking requirement adds to a 120-unit project.
The Housing Breakdown
A complete, reproducible pro forma for an illustrative 120-unit garden apartment project. Land, construction, financing, taxes, operations and returns, converted into the $1,996 monthly rent the building needs.
Affordability
Housing affordability is usually argued as a question of blame. It is better understood as arithmetic: land, construction, money, rules, operations and returns, added up and divided by units.
