Short answers, using bullet points; 5 pages or less; plus separate pages of maps, aerial photos and sources of information
Address of property
Site size (acres and land sq feet)
Current site use
Proposed development plan
- sq feet, parking, building use(s)
- Lot coverage and FAR
- Open space & landscaping
Current zoning
Proposed change in zoning
Market research supporting your plan,
Sub market vacancy, net absorption (2023) and new supply (2023 & 2004)
How does your plan implement
- Prospect & refuge
- Smart growth
- Placemaking
Estimated stabilized pro-forma and lease type (full service or triple net); show #'s
- Annual rent
- Stabilized occupancy level
- Other income (if any)
- Recurring expenses & taxes
- Reserves
- NOI
Estimated development costs
https://www.rsmeans.com/model-pages
- Inflate 2019 #'s at 5%/year
- Add 15% premium for Boston labor costs
- Add 15% of the total above for soft costs
How will you finance this development
- Debt vs equity
- Expected loan amount
- Interest rate
Exhibit of at least 4 rent comparables to validate your pro-forma rents
Estimated development costs
https://www.rsmeans.com/model-pages
- Inflate 2019 #'s at 5%/year
- Add 15% premium for Boston labor costs
- Add 15% of the total above for soft costs
How will you finance this development
- Debt vs equity
- Expected loan amount
- Interest rate
- Debt coverage on pro forma NOI
- Return on equity at stabilization
What is your target cap rate on costs?
What is your land price?
Show your calculations
What is the appraisal cap rate?
What is the estimated profit margin over costs
Show calculations
What will be your project management practices and procedures?
What are the reasons this is a good plan? What are the major risks How to mitigate them