1. (OZ) Shovel Read 318 unit Development Woodbridge VA.
2. Total project $96,152,600
3. Common Equity required $17mill for 100% of the common equity interest.
4. Developer has 15yrs of experience with similar project type.
5. Rent projections average $2200 per month. (competitively priced for the market)
6. Projected expense is conservatively set at approximately 31% of gross rents before debt service.
7. Construction Hard cost projections are $188 per foot ( realistic for cost in the DC market)