Clinton Housing Development Company (CHDC)
Main Page Main Page Main Page Main Page Main Page Main Page Main Page Main Page
main page Who We Are What We Do The Neighborhood Main Page
Main Page Housing Development Staff & Board Press Links Main Page


PROJECTS AT A GLANCE

401-403-405 West 40th Street

Distribution Demographics
Studios 2 Existing Tenants 25
One Bedrooms 21 Community Referrals 12
Two Bedrooms 8 Management 1
Three Bedrooms 7 Total 38
Total 38
*5 commercial spaces not included

Development Costs Financing
Acquisition 7 HPD Neighborhood Revitalization 2,430,311
Soft Costs 704,626 Clinton Fund 400,000
Construction 3,851,437 Merchant's Equity 260,007
Capital Reserves 123,060 LIHTC 1,588,812
Total

4,679,130

Total

4,679,130

Construction Cost per Unit: 101,354
Total Development cost per unit: 118,106

Annual Expense Annual Income
Operating 181,157 Rental Income 184,235
Debt Service 29,164 Commercial Income 54,480
Total

210,320

Net Revenue

238,715

Surplus/Deficit 28,394
Operating Coverage

114%

Operating Coverage w/Debt

91%