Clinton Housing Development Company (CHDC)
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PROJECTS AT A GLANCE

300 West 46th Street

Distribution Demographics
Studios 30 Existing Tenants 8
SRO Suites 37 Formerly Homeless 41
One Bedrooms 3 Community Referrals 19
Total 70 Management 2
*3 commercial spaces not included

Total

70

Development Costs Financing
Acquisition 950,000 Supp. Housing Loan 5,600,000
Soft Costs 1,810,645 LIHTC 2,667,445
Construction 5,106,800 Total 8,267,445
Capital Reserves 400,000
Total

8,267,445

Construction cost per unit: 72,954
Total Development cost per unit: 118,106

Annual Expense Annual Income
Operating 380,772 Rental Income 200,640
Debt Service 13,394 Commercial Income 245,822
Total 394,166 Interest Income 3,500
Operating Subsidy 122,400
Net Revenue

428,833

Surplus/Deficit 34,667
Operating Coverage 109%