Sample Development Costs (per square foot)

* The following are only budgeted costs of recent projects. Costs of any project will vary significantly depending on location, project, development team, etc. TYPE OF PROJECT: SQUARE FOOTAGE: ACQUISITION HARD COSTS Demolition $ New Roof $ Windows and doors $ HVAC units $ Concrete flatwork $ Plumbing and restrooms $ Upgrade electrical $ Interior finish $ Signage and landscaping $ Repair parking lot $ Exterior coating $ Tenant finish Base building Contingency Personal Property TOTAL HARD COSTS (not inc. acq.) SOFT COSTS Legal, professional fees $ Inspection $ Accounting Marketing/Advertising Site Sign Property Taxes/Maintenance Closing Costs Appraisal Permits Environmental Bond & Insurance Architecture/Engineering Space Planning Leasing Commissions Survey Soil Testing Tax Abatement Fee Permanent Loan Fees Developer Fee Developer Overhead CDC Co-developer fee Operating Reserves Contingency Construction interest $ Construction Manag. Oversight Taxes and Insurance Other soft costs TOTAL SOFT COSTS TOTAL COSTS $ $ 3.00 65.00 $ $ 21.00 116.00 $ $ 6.00 43.00 $ $ 4.40 25.00 $ $ 11.00 105.00 1.00 2.00 0.20 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $0.36 or 3% of tsc $ 1.20 $ 1.00 0.25 0.09 0.03 0.17 0.06 0.18 0.23 0.05 0.30 5.60 0.14 1.60 0.16 0.10 0.45 3.40 1.20 3.60 0.12 $ $ $ 1.25 0.91 0.78 $ 1.00 $ $ $ $ 0.44 1.15 2.70 21.00 $ $ 0.14 24.00 $ $ 6.90 57.00 $ 0.59 $0.03 or 0.1% of tdc $ 0.02 $ 4.00 $ 0.34 $ 5.00 $ 0.86 $ 5.00 $ 0.39 $ 0.10 $ 0.12 $ 0.02 $ 0.70 $ 0.76 $ 0.15 $ 0.14 $ 46.00 $ 95.00 $ 37.00 $ 21.00 $ 88.00 $ 15.50 5.00 4.00 3.00 7.00 3.00 3.00 5.00 7.00 2.00 1.00 5.00 $ $ 28.00 62.00 $ 37.00 $ $ $1.6 or 6.2% of tdc 14.00 5.00 $ $ 8.00 76.00 $ 14.00 $1.5 or 7% of tdc $ $ $ $ 6.20 7.13 0.31 14.00 $ 45.00 $ New construction office building 5,365 sf 16.00 $ New construction health center 27,714 rsf 2.00 $ Tenant build out of commercial space 10,734 sf $ Renovation of vacant office building 64,000 sf $ Expansion of existing health center 46,000 sf 7.00 $ Renovation of vacant office building 14,820 sf 2.40 $ Renovation of vacant building into office/retail 64,000 sf 9.40 $ 5.30 Average of all projects

$1.1 or 1.2% of thc

$4 or 4% of tdc

$0.28 or 1.2% of tdc