Re: cohousing in Mountain View

[robert b <http://dummy.us.eu.org/robert>]

It seems like the real limitation is the 18-20 units.  'Though not yet "active adults", Noelle and I live fine in a 880 sq ft house.  If there were more units, then the per-unit cost could be smaller.

Something to consider if you'd like to attract more people.

--- On Thu, 5/28/09, Susan Burwen <http://www.burwen.com/~susan> wrote:
> From: Susan Burwen <http://www.burwen.com/~susan>
> Cc: http://dummy.us.eu.org/robert, "Chuck Durrett" <http://www.cohousingco.com/~charles.durrett>
> Date: Thursday, May 28, 2009, 6:09 PM
>
> Hi Neoelle.
> 
> Thank you for contacting me. In order to answer your
> question, I would like to explain some of the financial
> constraints for our cohousing project. We would welcome any
> suggestions for how we might be able to build smaller, less
> expensive condos, given these financial constraints.
> 
> 3) The City of Mountain View will only allow between 18-20
> units to be built on the site. The projected building costs,
> including the land, are 14.5 million (including underground
> parking, which is very expensive). The combined selling
> price for all of the units has to be 18 million in order to
> generate the profit needed to bring in the investors. This
> profit margin for the developer and investors is consistent
> with a 20-25% developer fee typical for the industry
> (according to Katy McCamant).