Clinton Housing Development Company (CHDC)
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10th Avenue Project - 458 West 17th Street & 463 West 35th Street

Distribution Demographics
Studios 2 Existing Tenants 10
One Bedrooms 12 Very Low Income 1
Two Bedrooms 8 Low Income 12
Three Bedrooms 4 Market 2
Total 26 Management 1
*3 commercial spaces not included

Total

26

Development Costs Financing
Acquisition 2 HPD - HOME 2,810,994
Soft Costs 682,102 HPD - CDBG 115,251
Construction 3,075,344 LIHTC 1,056,978
Capital Reserves 208,775 Total 3,983,223
Total

3,966,223

Construction Cost per Unit: 123,014
Total Development cost per unit: 158,649

Annual Expense Annual Income
Operating 79,159 Rental Income 344,869
Commercial Income 46,800
Interest Income 7,768
Vacancy Loss (19,583)
Net Revenue

372,085

Surplus/Deficit 180,200
Operating Coverage 210%