HomeMy WebLinkAbout01-07-25 Public Comment - N. Nakamura - Cost per square foot of Guthrie 2 j -?-�03,�'
Cost per square foot of Guthrie 2
1-BR rent prices set based on 80%AMI ($69.81</yr, or a full-time worker earning more than $32/hr)
(As someone who earns substantially less than$32/hr, l would have to split with a roommate
or roommates to able to afford living in any of the following units, incl. the Guthrie.)
$1526/368 sqft=$4.15/sqft[studio, 10"affordable"units]
$1745/442 sqft=$3.95/sqft[1 BR, 1 BA, 29"affordable"units]
$1963/595 sqft=$3.30/sqft[2 BR,1 BA, 4"affordable" units]
$1963/675 sqft=$2.91 /sqft[2 BR, 1 BA, 2"affordable"units]
$1963/735 sqft=$2.67/sqft[2 BR, 1 BA, 1 "affordable"unit]
How do these costs compare to other units available right now on the marl<et?
Silver Creek Apartments (1481 N 25`h Ave) (Prices include parking and in-unit washer/dryer)
$1825/564 sqft=$3.24/sqft[studio]
$1925/673 sqft=$2.86/sqft[1 BR, 1 BA]
$2250/997 sqft=$2.26/sqft[2BR, 2BA]
One11 Lofts (111 W Lamme)
$2450/823 sqft=$2.98/sqft[1 BR, 1 BA]
$2950/ 1154 sqft=$2.56/sqft[2BR, 2BA]
SoBo Apartments (718 W Babcock)
$1875/709 sqft=$2.64/sqft[1 BR, 1 BA][dropped from$1950/mo(or$2.75/sgft)from Oct2024]
Completed in 2020, multiple condos in the building are now listed online as STRs
� VA
May 2024(photo from Google Maps) Sept 2015(photo from Google Maps)
806 W Alderson
$4500/ 1650 sqft=$2.72/sqft[2BR, 3BA][dropped from$5000/mo(or$3.03/sgft)from Oct 2024]
4 units replaced a single home, but have been sitting empty for nearly 2 years
Amenities include 2-car heated garage and being within blocks from campus
■ V
® it IA.-
May 2024(photo from Google Maps) Oct 2015(photo from Google Maps)