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2015 12.08 Small Lot Subdivision OverviewNorthampton,  MA  |  December  10,  2015   Small  Lot  Subdivision  Overview     SMALL LOT SUBDIVISION OVERVIEW   Small  Lot  Subdivision  Overview     • Alternative to standard development types • Maximizes space and increases density • Fee-simple WHAT IS A SMALL LOT SUBDIVISION? UNITS:  8   SITE  AREA:  .71  ACRES   AVE.  UNIT  SQ  FT:  1,881  SF   DENSITY:  11.27  DU/ACRE   PARKING  RATIO:  4/Home   Northampton,  MA  |  December  10,  2015   Small  Lot  Subdivision  Overview     EXAMPLE 1 Northampton,  MA  |  December  10,  2015   2BR  +  Office,  2.5  BA      1,256  SF   Small  Lot  Subdivision  Overview     Northampton,  MA  |  December  10,  2015   EXAMPLE 2 3br,  2.5  BA      1,881  SF   Small  Lot  Subdivision  Overview     • Structurally independent • No HOA • Two parking spots required per unit REQUIREMENTS Northampton,  MA  |  December  10,  2015   Small  Lot  Subdivision  Overview     PROJECT SCHEDULE Northampton,  MA  |  December  10,  2015   PROJECT SCHEDULE Entitlements Project Schedule Months Major Consultants Required per Phase Pre Design Phase 0-1 Architect, Survey, Soils Schematic Design Phase 1 Architect Design Development Phase 2-3 Architect, Structural Engineer, Landscape Architect, Subdivision Engineer, Arborist, MEP, Civil, General Contractor Parcel Map Submittal 1 Architect, Subdivision Engineer Months to Public Hearing after Parcel Map Submittal 2-3 Architect, Subdivision Engineer Construction Documents Phase, Clearing of Conditions 2-3 Architect, Structural Engineer, Landscape Architect, Subdivision Engineer, Arborist, MEP, Civil, General Contractor Construction procurement, Clearing Remaining Conditions, Obtain Building Permits 1 Architect, Subdivision Engineer, General Contractor Total: 10-12 Months   Construction Project Construction and Contract Administration 10-12 Months Architect, Subdivision Engineer, Landscape Architect, General Contractor Project Total from Design Through Project Completion 20-24 Months   Small  Lot  Subdivision  Overview     PROJECT FEASIBILITY Northampton,  MA  |  December  10,  2015   Lot Area 5,000 Unit Type Townhomes Unit Size 1,850 Unit Dimensions 20' x 38' Unit Count 3 EXPENSES   Total Per SF Per Unit Hard Costs 416,250 $75.00 138,750         Soft Costs       A&E 41,625 10.0% 13,875 Permits & Fees 111,000 $20.00 37,000 Legal 15,000   5,000 Accounting 5,000   1,667 Insurance 10,239 1.0% 3,413 Marketing 10,000   3,333 Property Taxes 10,239 1.0% 3,413 Miscellaneous 20,310 10.0% 6,770 Site Work 25,000 $5.00 8,333 General Contractor 49,850 7.5% 16,617 Contingency 53,589 7.5% 17,863 Development Fee 19,203 2.5% 6,401 Development Cost 787,305   262,435 Per Unit 262,435     Per Net SF 141.86     Land Residual 196,826 25.0% 65,609 TOTAL COST 984,131   328,044 FOR SALE         Total Per SF Per Unit Gross Revenue 1,526,250 $275 508,750 Sales Costs 122,100 8.0% 40,700 Net Revenue 1,404,150   468,050 Margin (inc. land) 420,019 42.7% 140,006