Table 13
Financial Analysis Results Summary Site 1: 2501 Eglinton Avenue West Current Market Conditions Scenario No Rental Replacement
Feasible Level of Rental Replacement
Current Rental Replacement Requirement
Va l ue of Exi s ti ng Property
$1,790,000
$1,790,000
$1,790,000
Redevel opment Ti ppi ng Poi nt - Requi red La nd Va l ue *
$1,969,000
$1,969,000
$1,969,000
0
0
24
$627,236
$627,236
$0
-$1,341,764
-$1,341,764
-$1,969,000
Redevel opment Ti ppi ng Poi nt - La nd Va l ue (Per Sq.Ft)
$41
$41
$41
La nd Va l ue Under Redevel opment Scena ri o (Per Sq.Ft)
$13
$13
$0
La nd Va l ue Exces s /Shortfa l l Per Squa re Foot Bui l da bl e
-$28
-$28
-$41
24,326
24,326
24,326
24
24
24
1.35
1.35
1.35
2.69
2.69
2.69
Project Statistics Financial Summary (Totals)
Number of Repl a cement Renta l Uni ts La nd Va l ue Under Redevel opment Scena ri o Profi t Sel l i ng Si te As Redevel opment Vs . Exi s ti ng Va l ue
Financial Summary (Per Sq.Ft Buildable)
Existing Building Exi s ti ng Bui l di ng (GFA) Sq.Ft Number of Exi s ti ng Renta l Uni ts Exi s ti ng Dens i ty (FSI)
DTHA Proposed Structure (Allowable As Per Mid-Rise Guidelines) Propos ed Dens i ty Propos ed Bui l di ng (GFA) Sq.Ft
48,470
48,470
48,470
Propos ed Res i denti a l (GFA) Sq.Ft
46,317
46,317
46,317
Propos ed Reta i l (GFA) Sq.Ft
2,153
2,153
2,153
Number of Condomi ni um Uni ts
54
54
35
Number of Repl a cement Renta l Uni ts
0
0
24
$18,129,666
$18,129,666
$11,723,681
$0
$0
$3,568,505
Reta i l Revenue
$677,704
$677,704
$675,831
Tota l Revenue
$19,085,897
$19,085,897
$16,148,150
$394
$394
$333
Soft Cos ts
$4,879,358
$4,879,358
$4,210,927
Ha rd Cos ts
$10,385,201
$10,385,201
$10,077,386
Tota l Devel opment Cos t
$15,264,559
$15,264,559
$14,288,313
$315
$315
$295
Tota l Res i dua l La nd Va l ue a nd Profi t (future$)
$3,821,338
$3,821,338
$1,859,837
Tota l Profi t (future$) - 15% of Revenue
$2,821,106
$2,821,106
$1,859,837
Tota l Res i dua l La nd Va l ue (future$)
$1,000,232
$1,000,232
$0
Project Revenue Condomi ni um Revenue Renta l Repl a cement Revenue
Tota l Revenue (Per Sq.Ft)
Construction Cost
Tota l Devel opment Cos t (Per Sq.Ft)
Residual Land Value and Profit
* Represents a 10% Premium over the properties existing value required to induce redevelopment Source: N. Barry Lyon Consultants Limited
Potential for Rental Housing Replacement in Mid-Rise Redevelopment along the Avenues City of Toronto Official Plan Review
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