Condo Characteristics
Completed January 2017 to illustrate understanding of the financial analysis required as part of the development process. Condo characteristics are a generalization based on information available in City of Toronto Reports, the development’s website, and Buzzbuzz.com
Skills Exercised
Financial Analysis - Designing and assessing cash-flow
Planning Policy Analysis - Assessing development against planning policy requirements
Research - Collecting the information to enter into pro-formas and to produce location, and planning analysis
Adobe Illustrator - Illustrating location analysis
Role
Policy Analyst, Pro-forma Architect, Illustrator
This development will include 165 units and include 1,850 ft2 of amenity space provided on the second floor. …show more content…
Adjacent to the site, Bayview-Cummer Shopping Centre includes grocery shopping, banks and other retail facilities. Departing at 8:00 AM, the 401, 404, 407 and the DVP can be accessed via Bayview Avenue within 10 minutes, while Finch Station is a 17 minute bus trip. The East Don ravine is also directly accessible by the Finch Hydro corridor located off the site’s southern property …show more content…
Soft Costs
Staying within industry standards, soft costs are estimated to be 25% of the construction cost.
This is expected to be a highly successful development for First Avenue Properties and Latch Developments. The land residual, $39,137,648.32, includes the value of the land when purchased and the cost of remediating the land to remove and toxic remnants from its previous use as a gas station. Money beyond these costs would contribute to the developer’s profit, therefore increasing the interest from investors to support this project. High returns also accelerate the developers’ ability to repay loans used during the construction period.
Unit costs and floorplans fit the expectations of those within the condo buying market. Should sales take longer than expected this project will remain highly profitable because it has a land residual that is more than 3 times greater than the expected developer profit.
The project’s profitability is illustrated in the high return on equity. Through sales, the developer is expected to be able to quickly repay invested
Skills Exercised
Financial Analysis - Designing and assessing cash-flow
Planning Policy Analysis - Assessing development against planning policy requirements
Research - Collecting the information to enter into pro-formas and to produce location, and planning analysis
Adobe Illustrator - Illustrating location analysis
Role
Policy Analyst, Pro-forma Architect, Illustrator
This development will include 165 units and include 1,850 ft2 of amenity space provided on the second floor. …show more content…
Adjacent to the site, Bayview-Cummer Shopping Centre includes grocery shopping, banks and other retail facilities. Departing at 8:00 AM, the 401, 404, 407 and the DVP can be accessed via Bayview Avenue within 10 minutes, while Finch Station is a 17 minute bus trip. The East Don ravine is also directly accessible by the Finch Hydro corridor located off the site’s southern property …show more content…
Soft Costs
Staying within industry standards, soft costs are estimated to be 25% of the construction cost.
This is expected to be a highly successful development for First Avenue Properties and Latch Developments. The land residual, $39,137,648.32, includes the value of the land when purchased and the cost of remediating the land to remove and toxic remnants from its previous use as a gas station. Money beyond these costs would contribute to the developer’s profit, therefore increasing the interest from investors to support this project. High returns also accelerate the developers’ ability to repay loans used during the construction period.
Unit costs and floorplans fit the expectations of those within the condo buying market. Should sales take longer than expected this project will remain highly profitable because it has a land residual that is more than 3 times greater than the expected developer profit.
The project’s profitability is illustrated in the high return on equity. Through sales, the developer is expected to be able to quickly repay invested