College Creek Lofts and Townhomes - City of Ames RFP, Baker Subdivision
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College Creek Lofts and Townhomes
City of Ames RFP, Baker Subdivision
TABLE OF CONTENTS PROPOSAL ALIGNMENT WITH SELECTION CRITERIA 3 DEVELOPER’S STATEMENT 6 ATTACHMENT A – DEVELOPMENT PLAN 10 BUILDING AND UNIT COUNT 12 BUILDING AND UNIT SIZE 12 SITE PLAN 13 BUILDING A FLOOR PLANS 14 BUILDING A UNIT PLANS 17 BUILDING A ELEVATIONS 23 BUILDING B FLOOR PLANS 25 BUILDING C FLOOR PLANS 26 TOWNHOME UNIT PLANS 27 BUILDING B AND C ELEVATIONS 29 ATTACHMENT B – ENERGY CONSERVATION AND GREEN BUILDING 31 SUMMARY OF ENERGY CONSERVATION AND GREEN BUILDING FEATURES 32 ATTACHMENT C – FINANCING PLAN 33 PROJECT PROFORMA – SOURCES AND USES 34 UNIT MIX AND INCOME 36 OPERATING EXPENSES 37 15 YEAR CASHFLOW 39 DETAILED CONSTRUCTION COST BREAKDOWN 40 INCENTIVE REQUESTS 41 ATTACHMENT D – EXPECTED LIHTC SUCCESS 42 DETAILED IFA SCORING 43 PREVIOUS IFA LIHTC AWARDS 46 ATTACHMENT E – TIMING 47 CONSTRUCTION SCHEDULE (PROPOSED TIMING OF IMPROVEMENTS) 48 ATTACHMENT F – MVAH PARTNERS CAPABILITY AND TRACK RECORD 49 MVAH PARTNERS RESUMES 50 REFERENCES 57 RECOMMENDATIONS 59 MVAH EXAMPLE PROJECTS 63 FINANCIAL CAPACITY – INCLUDING PIPELINE PROJECTS AND REO 66
Proposal Alignment with Selection Criteria
Please use the following as a roadmap for where our proposal, College Creek Lofts and Townhomes,
meets the City of Ames RFP Selection Criteria. The “Complete” column is utilized for us to self-score as
well as to provide a tool for the reviewer to mark items complete.
Also, please be advised this proposal, including information provided in all accompanying attachments,
is firm for a period of not less than 60 days after the closing date of this request and through
negotiations (signed statement is included in the Developer’s Statement).
A. Competitive Requirement (page # coincides with PDF page number)
1. Applicant/Developer Capability and Track Record (30 points)
City of Ames Criteria MVAH Partners Proposal Document Complete
Location Page # MVAH City of
Ames
Applicant’s track record, • Developer’s Statement
including whether the 6
applicant and/or
development team has
• Attachment F – MVAH
successfully completed
and/or operating a similar Partner’s Capability
49
type of LIHTC project. and Track Record
Capacity to undertake new • Attachment F – MVAH
or additional projects. Partner’s Capability
66
and Track Record –
Financial Capability
Ability to secure • Attachment F – MVAH
construction financing. Partner’s Capability
66
and Track Record –
Financial Capability
Developer’s approach, plan • Developer’s Statement
of work, recommended 6
schedules, and suggested
responsibility assignments. • Attachment E – Timing
48
2. Quality of References (20 points)
City of Ames Criteria MVAH Partners Proposal Document Complete
Location Page # MVAH City
of
Ames
Qualification and experience • Attachment F – MVAH
in providing the requested Partner’s Capability
49
development as exemplified and Track Record
9100 Centre Pointe Dr. Suite 210 West Chester, OH 45069 (513)-964-1140
by past projects and client • Attachment D –
contracts. Expected LIHTC 43
Success
3. Housing variety and architectural styles
City of Ames Criteria MVAH Partners Proposal Document Complete
Location Page # MVAH City
of
Ames
Housing variety and • Developer’s
architectural styles Statement 6
• Attachment A –
Development Plan 10
4. Percentage of Affordable Housing Units
City of Ames Criteria MVAH Partners Proposal Document Complete
Location Page # MVAH City
of
Ames
Percentage of Affordable • Attachment C –
Housing Units Financing Plan, Unit
Mix/Income
36
(50 total units – 45
LIHTC and 5 Market
Rate).
5. Property Management Experience
City of Ames Criteria MVAH Partners Proposal Document Complete
Location Page # MVAH City
of
Ames
Number of units managed • Attachment F – MVAH
Partner’s Capability and
Track Record. This
information is included 66
in the Financial Capacity
portion of Attachment
F.
Years of Experience • Attachment F – MVAH
Partner’s Capability and 50
Track Record.
Number of affordable units • Attachment F – MVAH
managed and performance Partner’s Capability and 66
record Track Record.
9100 Centre Pointe Dr. Suite 210 West Chester, OH 45069 (513)-964-1140
Familiarity of the various • Attachment F – MVAH
funding sources for housing Partner’s Capability and
development and rental Track Record. This
subsidies. information is included 66
in the Financial Capacity
portion of Attachment
E.
6. Feasibility (pro-forma including project funding sources)
City of Ames Criteria MVAH Partners Proposal Document Complete
Location Page # MVAH City
of
Ames
Pro-forma including project • Attachment C –
funding sources Financing Plan, Sources 33
and Uses
9100 Centre Pointe Dr. Suite 210 West Chester, OH 45069 (513)-964-1140
September 10, 2020
Ms. Karen Server
City of Ames
Purchasing Division (1st Floor), City Hall
PO 811
Ames, IA 50010
RE: Request for Proposals for Low-Income Housing Tax Credit Developers in Partnership with the City of
Ames – Developer’s Statement
Dear Karen:
MVAH Partners is pleased to submit a proposal to partner with the City of Ames for the construction of
College Creek Lofts and Townhomes, a low-income rental housing development on the 2.78-acre site in
the Baker Subdivision. Our team has extensive experience leveraging the Iowa Finance Authority’s (IFA)
Low-Income Housing Tax Credit (LIHTC) program to create high quality, visually appealing and
operationally sustainable affordable housing. In the past eight years, IFA has awarded MVAH Partners 12
projects (including two in 2020 and one in 2019) for a total of $98,571,430 in housing tax credits to create
606 units of safe, affordable housing for Iowa residents. The MVAH portfolio in Iowa operates at an
average of 97% occupancy level. We are excited to provide the following proposal for the opportunity to
partner with the City of Ames to meet your goals and priorities for the Baker Subdivision.
Developer’s Statement
Development Plan
Our team put a lot of thought to the site layout including identifying the building size, type and placement
on the site which we believe will be best for future residents as well as the Baker Subdivision and City of
Ames. We have carefully reviewed the site’s pros and cons and come up with a plan that will maximize
the number of units and points on the IFA QAP by building a retaining wall at the south end of the
property. Unless we receive a setback variance, we will have to alter the topography of the site to achieve
our goals, but we will install hardpipe storm water drainage to make sure it has no impact on the
environment or neighbors.
Our proposed site plan is also designed with the regional geothermal system in mind. We will be able to
size separate systems for the 3-story building and the townhomes to maximize efficiency. We look forward
to harnessing the potential energy savings to offer our residents not only affordable rents, but significantly
reduced energy bills. It is a rare opportunity for a workforce development to be able to include such
cutting-edge technology, but we are always looking for the right project to implement it.
In addition, our plan includes the following amenities to best meet the needs of potential residents:
• Free internet service for residents
• An on-site playground
• 360-degree interior and exterior security camera system, including hallways
9100 Centre Pointe Dr. Suite 210 West Chester, OH 45069 (513)-964-1140
• Fitness room
• Computer room with internet access
• In unit washer and dryer
• Ceiling fans in every bedroom
• On-site management
• Community room
• Accessible and adaptable ADA units
Attachment A includes plans and additional development plan information.
Energy Conservation and Green Building Features
MVAH is committed to energy conservation and environmental stewardship throughout our portfolio.
Nearly all of our new developments, and every MVAH project in Iowa, achieve EnergyStar Certification
and Home Energy Rating System (HERS) of 62 or less, making them among the most efficient new
construction buildings in the country. This project will meet exceed or exceed those expectations, as well.
A few additional items of note are listed below.
• All units are held to strict air sealing and insulation installation procedures and will be inspected
by the HERS Rater.
• All interior paints and primers used in the buildings will comply with Green Seal standards for
low VOC limits.
• All adhesives used will comply with Rule 1168 of the South Coast Air Quality Management
District.
• All of the carpeting used will be labeled with the Carpet & Rug Institute (CRI) Green Label.
• All other hardsurface flooring will be FloorScore certified products.
• All plumbing fixtures will be WaterSense labeled demonstrating the use of low-flow fixtures
throughout.
• The exterior envelope will include such features as continuous insulated sheathing, high R-value
walls and roof, and Energy Star certified windows and doors. All of which contribute to the
overall HERS index and Energy Star certification for the building.
Attachment B includes additional information on energy conservation and green building features.
Financing Plan
Our proposed financing plan includes the following:
Source Amount Comments
First Mortgage $2,562,806 A conventional first mortgage,
lender TBD.
City of Ames HOME $400,000
LIHTC Equity $7,307,269 Pricing at $0.87
GP Equity $100
Deferred Developer Fee $127,198 Repaid in Year 7 – compliant
with IFA QAP guidelines.
Total $10,397,373
Construction Loan $7,570,942 Lender TBD
9100 Centre Pointe Dr. Suite 210 West Chester, OH 45069 (513)-964-1140
Please see Attachment C for our project proforma and more detailed information.
Expected Success for LIHTC Application
As demonstrated, MVAH has been very successful in both applying for and receiving LIHTC from IFA. We
are confident we have the expertise and strategic approach to submit another successful application. Our
self-score reflects a competitive score of 155 points, which is the cut-off score for awarded applications
in the General Pool in 2020 (With the sole exception of one application scoring 148 and winning an award.
The application won the award primarily because it received such a small allocation of LIHTC).
Please reference Attachment D for anticipated scoring as well as a more detailed explanation.
Goals
1. To provide workforce housing in the Baker Subdivision and the City at large via a partnership
with the City of Ames.
2. Create an affordable housing community that balances maximizing the unit count using the land
available with maximizing LIHTC scoring as outlined in the IFA 2020-2021 QAP.
3. Create an affordable housing product that integrates seamlessly to the surrounding subdivision
and broader community.
4. Create new housing options marketable to families while meeting workforce housing needs in
the City of Ames community.
Timeline
Action Deadline
Submit Application to the City of Ames September 11, 2020
Submit Application to IFA March 10, 2021
Receive IFA LIHTC Award August 2021
Project Closing March 31, 2022
Construction Start April 1, 2022
Construction Substantial Completion June 1, 2023
Qualified Occupancy December 31, 2023
Please see Attachment E for a more detailed construction schedule including proposed timing of
improvements and completion of improvements for the site.
Partners and Members of the Development Team
Developer – MVAH Development
Architect – BDCL Architect
Property Manager – MVAH Partners
General Contractor – Koester or another GC approved by the Developer
Investor – To be determined
Construction Lender – To be determined
Perm Lender – To be determined
9100 Centre Pointe Dr. Suite 210 West Chester, OH 45069 (513)-964-1140
ATTACHMENT A—DEVELOPMENT PLAN
CITY OF AMES RFP
Attachment A includes the following:
• Development Plans including a conceptual site layout that identifies building size and locations, access
point, parking, landscaping, and storm water.
• Representative architectural elevations and floor plans.
• Summary of plan types for total square footage, number of bedrooms, number and type of bathrooms,
and square footage of any unfinished areas.PROJECT TEAM: DRAWING INDEX:
DEVELOPER: MVAH PARTNERS LLC 00 COVER SHEET
9100 CENTRE POINTE DRIVE, SUITE 210
WEST CHESTER, OHIO 45069 01 BUILDING & SITE DATA
(513) 964-1140
02 SITE PLAN
ARCHITECT OF RECORD: BDCL ARCHITECTS, PC 03 BUILDING A - FIRST FLOOR PLAN
9100 CENTRE POINTE DRIVE, SUITE 210 04 BUILDING A - SECOND FLOOR PLAN
WEST CHESTER, OHIO 45069 05 BUILDING A - THIRD FLOOR PLAN
(513) 964-1154
06 2 BEDROOM TYPE 2A ACCESSIBLE - UNIT PLAN
07 2 BEDROOM TYPE 2A - UNIT PLAN
08 2 BEDROOM TYPE 2B / 2C - UNIT PLAN
09 3 BEDROOM TYPE 3A ACCESSIBLE - UNIT PLAN
10 3 BEDROOM TYPE 3A - UNIT PLAN
11 3 BEDROOM TYPE 3B / 3C - UNIT PLAN
12 BUILDING A - BUILDING ELEVATIONS
13 BUILDING A - BUILDING ELEVATIONS
14 BUILDING B - FLOOR PLANS
15 BUILDING C - FLOOR PLANS
16 3 BEDROOM TYPE 3A TOWNHOME - UNIT PLAN
17 3 BEDROOM TYPE 3B / 3C TOWNHOME - UNIT PLAN
18 BUILDING B & C - BUILDING ELEVATIONS
19 PROJECT RENDERING
OVERALL UNIT COUNT
UNIT TYPE AMOUNT USED
2 BED / 2 BATH UNITS 24
3 BED / 2 BATH UNITS 12
3 BED / 2 BATH TOWNHOME UNITS 14
TOTAL 50
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa cover sheet - 00
© 2019 MVAH Development LLCBUILDING & UNIT COUNT
BUILDING TYPE AMOUNT USED UNIT TYPES IN BUILDING
2 BED / 2 BED / 2 BED / 2 BED / 3 BED / 3 BED / 3 BED / 3 BED / 3 BED / 3 BED / 3 BED / TOTAL
2 BATH 2 BATH 2 BATH 2 BATH 2 BATH 2 BATH 2 BATH 2 BATH 2 BATH 2 BATH 2 BATH UNITS
TYPE 2A TYPE 2A TYPE 2B TYPE 2C TYPE 3A TYPE 3A TYPE 3B TYPE 3C TYPE 3A TYPE 3B TYPE 3C
ACC S&H ACC S&H TOWNHOME TOWNHOME TOWNHOME
A 1 3 4 16 1 2 3 6 1 0 0 0 36
B 1 0 0 0 0 0 0 0 0 1 5 0 6
B2 1 0 0 0 0 0 0 0 0 1 6 1 8
TOTAL UNITS BY TYPE 3 4 16 1 2 3 6 1 2 11 1 50
UNIT SIZE & COUNT BUILDING 'A' SIZE BUILDING 'B' SIZE
UNIT TYPE NET S.F. GROSS S.F. AMOUNT USED FLOOR LEVEL GROSS S.F. FLOOR LEVEL GROSS S.F.
2 BED / 2 BATH - TYPE 2A ACCESSIBLE 869 S.F. 947 S.F. 3 FIRST FLOOR 15,995 FIRST FLOOR 4,698
2 BED / 2 BATH - TYPE 2A 869 S.F. 947 S.F. 4 SECOND FLOOR 15,932 SECOND FLOOR 3,059
2 BED / 2 BATH - TYPE 2B 869 S.F. 947 S.F. 16 THIRD FLOOR 15,932
2 BED / 2 BATH SIGHT & HEARING - TYPE 2C 869 S.F. 947 S.F. 1 OVERALL BUILDING (ALL FLOORS) 7,757
3 BED / 2 BATH - TYPE 3A ACCESSIBLE 1081 S.F. 1185 S.F. 2 OVERALL BUILDING (ALL FLOORS) 47,859
3 BED / 2 BATH - TYPE 3A 1081 S.F. 1185 S.F. 3
3 BED / 2 BATH - TYPE 3B 1081 S.F. 1185 S.F. 6 BUILDING 'C' SIZE
3 BED / 2 BATH SIGHT & HEARING - TYPE 3C 1081 S.F. 1185 S.F. 1
FLOOR LEVEL GROSS S.F.
3 BED / 2 BATH - TYPE 3A TOWNHOME 1222 S.F. 1299 S.F. 2
FIRST FLOOR 6,043
3 BED / 2 BATH - TYPE 3B TOWNHOME 1198 S.F. 1282 S.F. 11
SECOND FLOOR 4,279
3 BED / 2 BATH SIGHT & HEARING - TYPE 3C TOWNHOME 1198 S.F. 1282 S.F. 1
OVERALL BUILDING (ALL FLOORS) 10,322
TOTAL 50
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
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© 2019 MVAH Development LLCPROPOSED UNIT MIX:
2 BEDROOM / 2 BATH - 24 UNITS
3 BEDROOM / 2 BATH - 12 UNITS
MONUMENT
3 BEDROOM / 2 BATH TOWNHOMES - 14 UNITS
SIGN
TRIPP TOTAL - 50 UNITS
STRE
ET
PROP
ERTY
BUILDING A - 3 STORY BUILDING
LINE
BUILDINGS B & C - 2 STORY TOWNHOMES
25'-0"
FRON
T YAR
D SE
TBAC
K SITE PARKING = REQUIRED
10
126 TOTAL PARKING SPACES
9
PROVIDED
8 TOWNHOMES
126 TOTAL PARKING SPACES
BUILDING C
(INCLUDES 6 ACCESSIBLE SPACES)
SOUTH WILMOUTH AVENUE
11
11 10
DEVELOPMENT WILL BE PROVIDED WITH THE FOLLOWING AT A
9
MINIMUM:
10
1. VIDEO SECURITY SYSTEM SHALL RECORD ACTIVITY ACROSS
10'-0" SIDE YARD SETBACK
PROPERTY LINE
ENTIRE SITE INCLUDING PARKING AREAS, STAIRWAYS,
PROPERTY LINE
BUILDING A
ELEVATORS, HALLWAYS AND ENTRANCES TO NON-TENANT
36 UNITS
SPACES. CAMERAS IN CORRIDORS SHALL BE PLACED IN SUCH A
WAY THAT ALL UNIT ENTRANCES ARE COVERED.
10'-0" SIDE YARD SETBACK
2. TWO BIKE RACKS SHALL BE PROVIDED AT EITHER END OF THE
10 10 BUILDING.
6 TOWNHOMES
10 3. A "NON-SMOKING" POLICY SHALL BE IMPLEMENTED AND
BUILDING B
11
ENFORCED.
13
4. ADEQUATE SITE LIGHTING SHALL BE PROVIDED TO ENSURE SAFE
AND SECURE TRAVEL FROM PARKING AREAS.
5. CONCRETE SIDEWALKS SHALL BE PROVIDED TO EACH ENTRANCE
DOOR.
LINE OF NEW
UNDERGROUND
STORM PIPING
2
PLAYGROUND
LINE OF NEW SITE
RETAINING WALL
PROPE
RTY LIN
E
site plan
1" = 60'-0"
25'-0" REAR YARD SETBACK
PROPERTY LINE
0 30 60 120 180
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa site plan - 02
© 2019 MVAH Development LLCBUILDING WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
1. COMMUNITY ROOM SHALL BE 20 SQ FT PER UNIT UP TO THE FIRST 40 UNITS.
2. A MINIMUM OF ONE 5' ADA COMPLIANT ROLL-IN SHOWER PER 20 UNITS SHALL BE
PROVIDED. UNITS SHALL BE DISPERSED THROUGHOUT THE BUILDING.
3. ENTRANCE SHALL HAVE A FOYER (VESTIBULE) WITH REMOTE SECURITY AND
INTERCOM SYSTEM TO EACH UNIT.
4. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING
HIGH-EFFICIENCY WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH
OR LESS, FAUCET AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN
KITCHENS AND 1.0 GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT
USE 1.5 GALLONS PER MINUTE OR LESS.
5. A PASSIVE RADON SYSTEM SHALL BE PROVIDED.
6. A MINIMUM OF TWO PERCENT (2%) OF ALL UNITS SUPPLIED SHALL BE ADAPTED
FOR HEARING AND VISION IMPAIRMENTS AS UNITS WITH ACCESSIBLE
COMMUNICATIONS FEATURES.
7. BUILDING DESIGN WILL COMPLY WITH IOWA FINANCE AGENCY 2021 QAP
APPENDIX J BUILDING STANDARDS.
FD FD FD
2BR FD 3BR FD
3BR 2BR TYPE 2BR TYPE
TYPE TYPE 2A TYPE 3A
NEEUQ
QUEEN
QUEEN
QUEEN
QUEEN
TV
3A
TV
2B ACCESS
TV TV
2B
TV
ACCESS
NEEUQ
QUEEN
QUEEN
QUEEN
QUEEN
MECH.
STAIR MAINT. STAIR
NEEUQ
QUEEN
COMMUNITY
FD ROOM FD FD
M.W.
FD FD
TV
ELEV.
REF.
DW
MW MW MW MW MW
MW MW MW MW WM
MEN'S WOMEN
FD
MECH. FD
FD
DF
FD
LOBBY
FITNESS
QUEEN
NEEUQ
STOR
3BR
TYPE 2BR 2BR 2BR 3BR
QUEEN
QUEEN
QUEEN
QUEEN
NEEUQ
TV TV TV TV VT
QUEEN
QUEEN
QUEEN
3A TYPE TYPE TYPE TYPE
QUEEN
NEEUQ
ACCESS 2A OFFICE 2A 2B 3B
FD FD FD FD DF
first floor plan
1"=20'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
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© 2019 MVAH Development LLCBUILDING WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
1. COMMUNITY ROOM SHALL BE 20 SQ FT PER UNIT UP TO THE FIRST 40 UNITS.
2. A MINIMUM OF ONE 5' ADA COMPLIANT ROLL-IN SHOWER PER 20 UNITS SHALL BE
PROVIDED. UNITS SHALL BE DISPERSED THROUGHOUT THE BUILDING.
3. ENTRANCE SHALL HAVE A FOYER (VESTIBULE) WITH REMOTE SECURITY AND
INTERCOM SYSTEM TO EACH UNIT.
4. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING
HIGH-EFFICIENCY WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH
OR LESS, FAUCET AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN
KITCHENS AND 1.0 GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT
USE 1.5 GALLONS PER MINUTE OR LESS.
5. A PASSIVE RADON SYSTEM SHALL BE PROVIDED.
6. A MINIMUM OF TWO PERCENT (2%) OF ALL UNITS SUPPLIED SHALL BE ADAPTED
FOR HEARING AND VISION IMPAIRMENTS AS UNITS WITH ACCESSIBLE
COMMUNICATIONS FEATURES.
7. BUILDING DESIGN WILL COMPLY WITH IOWA FINANCE AGENCY 2021 QAP
APPENDIX J BUILDING STANDARDS.
FD FD FD FD
2BR FD FD
3BR 2BR 2BR TYPE 2BR 3BR
TYPE TYPE TYPE 2A TYPE TYPE
NEEUQ
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
TV
3A
TV
2B
TV
2B ACCESS
TV TV
2B
TV
3B
NEEUQ
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
MECH./
MAINT.
STAIR STAIR
NEEUQ
QUEEN
FD
COMP FD
FD
FD FD
ROOM FD
ELEV.
MW MW MW MW MW MW
MW MW MW MW MW MW WM
FD FD FD FD
FD
FD DF
QUEEN
NEEUQ
3BR 2BR 2BR 2BR 2BR 2BR 3BR
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
NEEUQ
TV TV TV TV TV TV VT
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
TYPE TYPE TYPE TYPE TYPE TYPE TYPE
QUEEN
NEEUQ
3B 2B 2B 2B 2A 2B 3B
FD FD FD FD FD DF
FD
second floor plan
1"=20'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa building A - second floor plan - 04
© 2019 MVAH Development LLCBUILDING WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
1. COMMUNITY ROOM SHALL BE 20 SQ FT PER UNIT UP TO THE FIRST 40 UNITS.
2. A MINIMUM OF ONE 5' ADA COMPLIANT ROLL-IN SHOWER PER 20 UNITS SHALL BE
PROVIDED. UNITS SHALL BE DISPERSED THROUGHOUT THE BUILDING.
3. ENTRANCE SHALL HAVE A FOYER (VESTIBULE) WITH REMOTE SECURITY AND
INTERCOM SYSTEM TO EACH UNIT.
4. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING
HIGH-EFFICIENCY WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH
OR LESS, FAUCET AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN
KITCHENS AND 1.0 GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT
USE 1.5 GALLONS PER MINUTE OR LESS.
5. A PASSIVE RADON SYSTEM SHALL BE PROVIDED.
6. A MINIMUM OF TWO PERCENT (2%) OF ALL UNITS SUPPLIED SHALL BE ADAPTED
FOR HEARING AND VISION IMPAIRMENTS AS UNITS WITH ACCESSIBLE
COMMUNICATIONS FEATURES.
7. BUILDING DESIGN WILL COMPLY WITH IOWA FINANCE AGENCY 2021 QAP
APPENDIX J BUILDING STANDARDS.
FD FD FD FD
2BR FD FD
3BR 2BR 2BR TYPE 2BR 3BR
TYPE TYPE TYPE 2A TYPE TYPE
NEEUQ
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
TV
3A
TV
2B
TV
2B ACCESS
TV TV
2B
TV
3B
NEEUQ
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
MECH./
STAIR MAINT. STAIR
NEEUQ
QUEEN
FD
FD FD
FD FD FD
STOR
ELEV.
MW MW MW MW MW MW
MW MW MW MW MW MW WM
FD FD FD FD
FD
FD DF
QUEEN
NEEUQ
3BR 2BR 2BR 2BR 2BR 2BR 3BR
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
NEEUQ
TV TV TV TV TV TV VT
QUEEN
QUEEN
QUEEN
QUEEN
QUEEN
TYPE TYPE TYPE TYPE TYPE TYPE TYPE
QUEEN
NEEUQ
3B 2B 2B 2B 2A 2B 3B
FD FD FD FD FD FD DF
third floor plan
1"=20'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa building A - third floor plan - 05
© 2019 MVAH Development LLC2 BR / 2 BATH TYPE 2A
ACCESSIBLE UNIT
DWELLING NET SF: 869 sf
SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
MW ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
REF
ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
BATH KITCHEN 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
MASTER BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
BATH
SPEED.
DW 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
FD
LAUNDRY 3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
DINING 5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
MINUTE OR LESS.
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
QUEEN
MASTER FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
BEDROOM
BEDROOM 1 TV 8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
QUEEN
LIVING ROOM LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
SPECIFICATIONS.
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
FD
10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
LOW VOC LIMITS.
11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 2 bedroom type 2A accessible - unit plan - 06
© 2019 MVAH Development LLC2 BR / 2 BATH TYPE 2A UNIT
DWELLING NET SF: 869 sf
SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
MW ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
REF
ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
BATH KITCHEN 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
MASTER BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
BATH
SPEED.
DW 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
FD SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
LAUNDRY 3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
DINING 5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
MINUTE OR LESS.
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
QUEEN
MASTER FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
BEDROOM
BEDROOM 1 TV 8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
QUEEN
LIVING ROOM LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
SPECIFICATIONS.
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
FD
10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
LOW VOC LIMITS.
11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 2 bedroom type 2A - unit plan - 07
© 2019 MVAH Development LLC2 BR / 2 BATH
TYPE 2B & 2C UNIT
DWELLING NET SF: 869 sf
SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
MW ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
REF
ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
BATH KITCHEN 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
MASTER BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
BATH
SPEED.
DW 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
FD
SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
LAUNDRY 3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
DINING 5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
MINUTE OR LESS.
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
QUEEN
MASTER FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
BEDROOM
BEDROOM 1 TV 8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
QUEEN
LIVING ROOM LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
SPECIFICATIONS.
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
FD
10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
LOW VOC LIMITS.
11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 2 bedroom type 2B / 2C - unit plan - 08
© 2019 MVAH Development LLC3 BR / 2 BATH TYPE 3A
ACCESSIBLE UNIT
DWELLING NET SF: 1081 sf
SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
MW ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
REF
ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
BATH STORAGE
KITCHEN MASTER 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
BATH
BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
SPEED.
DW 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
FD
3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
COAT LAUNDRY
LINEN
4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
DINING
5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
BEDROOM 2
QUEEN
6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
MINUTE OR LESS.
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
QUEEN
FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
BEDROOM 1
TV MASTER
8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
LIVING ROOM BEDROOM
QUEEN
LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
SPECIFICATIONS.
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
FD
10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
LOW VOC LIMITS.
11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 3 bedroom type 3A accessible - unit plan - 09
© 2019 MVAH Development LLC3 BR / 2 BATH TYPE 3A UNIT
DWELLING NET SF: 1081 sf
SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
MW ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
REF
ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
BATH STORAGE
KITCHEN MASTER 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
BATH
BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
SPEED.
DW 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
FD
3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
COAT LAUNDRY
LINEN
4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
DINING
5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
BEDROOM 2
QUEEN
6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
MINUTE OR LESS.
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
QUEEN
FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
BEDROOM 1
TV MASTER
8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
LIVING ROOM BEDROOM
QUEEN
LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
SPECIFICATIONS.
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
FD
10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
LOW VOC LIMITS.
11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 3 bedroom type 3A - unit plan - 10
© 2019 MVAH Development LLC3 BR / 2 BATH
TYPE 3B / 3C UNIT
DWELLING NET SF: 1081 sf
SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
MW ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
REF
ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
BATH STORAGE
KITCHEN MASTER 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
BATH
BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
SPEED.
DW 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
FD
3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
COAT LAUNDRY
LINEN
4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
DINING
5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
BEDROOM 2
QUEEN
6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
MINUTE OR LESS.
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
QUEEN
FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
BEDROOM 1
TV MASTER
8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
LIVING ROOM BEDROOM
QUEEN
LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
SPECIFICATIONS.
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
FD
10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
LOW VOC LIMITS.
11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 3 bedroom type 3B / 3C - unit plan - 11
© 2019 MVAH Development LLCEXTERIOR FINISH LEGEND
FACE BRICK VENEER (FB-1)
FIBER CEMENT SIDING, LAP-STYLE (FC-1).
FIBER CEMENT SIDING, SHAKE-STYLE (FC-2).
ROOFING, ARCHITECTURAL FIBERGLASS SHINGLES
(AFS-1). ANTI-FUNGAL AND MIN. 30-YEAR WARRANTY
SHEET METAL FLASHING AND TRIM. ALL PRE-FINISHED
METAL GUTTER, DOWNSPOUTS, FASCIAS, ETC. TO BE BY
DIMENSIONAL METALS INC.
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa building A - building elevations - 12
© 2019 MVAH Development LLCEXTERIOR FINISH LEGEND
FACE BRICK VENEER (FB-1)
FIBER CEMENT SIDING, LAP-STYLE (FC-1).
FIBER CEMENT SIDING, SHAKE-STYLE (FC-2).
ROOFING, ARCHITECTURAL FIBERGLASS SHINGLES
(AFS-1). ANTI-FUNGAL AND MIN. 30-YEAR WARRANTY
SHEET METAL FLASHING AND TRIM. ALL PRE-FINISHED
METAL GUTTER, DOWNSPOUTS, FASCIAS, ETC. TO BE BY
DIMENSIONAL METALS INC.
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa building A - building elevations - 13
© 2019 MVAH Development LLCBUILDING WILL BE PROVIDED WITH THE FOLLOWING AT A
MINIMUM:
1. A MINIMUM OF ONE 5' ADA COMPLIANT ROLL-IN SHOWER
PER 20 UNITS SHALL BE PROVIDED. UNITS SHALL BE
DISPERSED THROUGHOUT THE BUILDING.
2. WATER CONSERVING MEASURES SHALL BE PROVIDED,
INCLUDING HIGH-EFFICIENCY WATERSENSE TOILETS
THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR
LESS IN KITCHENS AND 1.0 GALLONS PER MINUTE IN
BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS
PER MINUTE OR LESS.
3. A PASSIVE RADON SYSTEM SHALL BE PROVIDED.
4. A MINIMUM OF TWO PERCENT (2%) OF ALL UNITS
SUPPLIED SHALL BE ADAPTED FOR HEARING AND
second floor plan VISION IMPAIRMENTS AS UNITS WITH ACCESSIBLE
COMMUNICATIONS FEATURES.
1/16" = 1'-0" 5. BUILDING DESIGN WILL COMPLY WITH IOWA FINANCE
AGENCY 2021 QAP APPENDIX J BUILDING STANDARDS.
3BR 3BR 3BR 3BR 3BR 3BR
TYPE TYPE TYPE TYPE TYPE TYPE
3A 3B 3B 3B 3B 3B
TOWNHOME TOWNHOME TOWNHOME TOWNHOME TOWNHOME TOWNHOME
first floor plan
1/16" = 1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa building B - floor plans - 14
© 2019 MVAH Development LLCBUILDING WILL BE PROVIDED WITH THE FOLLOWING AT A
MINIMUM:
1. A MINIMUM OF ONE 5' ADA COMPLIANT ROLL-IN SHOWER
PER 20 UNITS SHALL BE PROVIDED. UNITS SHALL BE
DISPERSED THROUGHOUT THE BUILDING.
2. WATER CONSERVING MEASURES SHALL BE PROVIDED,
INCLUDING HIGH-EFFICIENCY WATERSENSE TOILETS
THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
AERATORS THAT USE 1.5 GALLONS PER MINUTE OR
LESS IN KITCHENS AND 1.0 GALLONS PER MINUTE IN
BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS
PER MINUTE OR LESS.
3. A PASSIVE RADON SYSTEM SHALL BE PROVIDED.
4. A MINIMUM OF TWO PERCENT (2%) OF ALL UNITS
SUPPLIED SHALL BE ADAPTED FOR HEARING AND
second floor plan VISION IMPAIRMENTS AS UNITS WITH ACCESSIBLE
COMMUNICATIONS FEATURES.
1/16" = 1'-0"
5. BUILDING DESIGN WILL COMPLY WITH IOWA FINANCE
AGENCY 2021 QAP APPENDIX J BUILDING STANDARDS.
3BR 3BR 3BR 3BR 3BR 3BR 3BR 3BR
TYPE TYPE TYPE TYPE TYPE TYPE TYPE TYPE
3B 3B 3B 3B 3B 3B 3B 3A
TOWNHOME TOWNHOME TOWNHOME TOWNHOME TOWNHOME TOWNHOME TOWNHOME TOWNHOME
first floor plan
1/16" = 1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa building C - floor plans - 15
© 2019 MVAH Development LLC3 BR / 2 BATH TYPE 3A
TOWNHOME UNIT
WALL MIRROR
MEDICINE CABINET
DWELLING NET SF: 1222 sf
WALL CABINETS WITHIN
ACCESSIBLE REACH MASTER
REF. BATH
RANGES SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
9'-8"x5'-10"
55 SF ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
FULLY VISITABLE KITCHEN VINYL
MASTER ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
QUEEN
VENTED RANGE HOOD KITCHEN BEDROOM
10'-8"x13'-11" 10'-7"x13'-8"
RANGE 148 SF 125 SF 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
SHELVES
VINYL CARPET
PANTRY BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
REMOVABLE BASE 8 SF
CABINET BELOW KITCHEN VINYL WALK-IN SPEED.
SINK FOR ACCESSIBLE CLOSET
ACCESS D.W. 6'-0" X 6'-5" 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
39 SF
GARBAGE DISPOSAL CARPET SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
BREAKFAST BAR LAUNDRY
16 SF 3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
VINYL
ACCESSIBLE ADA COMPLIANT 4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
BATHROOM ROLL-IN SHOWER
8'-5" X 7'-11"
COAT 67 SF
5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
CLOSET MECH CERAMIC TILE
DINING 5 SF 9 SF 6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
10'-7"x13'-8"
122 SF WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
VINYL FULLY VISITABLE
HALL BATHROOM AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
4'-0" X 15'-5"
62 SF WALL MIRROR GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
VINYL MEDICINE CABINET
MINUTE OR LESS.
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
FULL FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
BEDROOM 2 8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
9'-8"x12'-3"
LINEN 118 SF LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
8 SF CARPET
R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
SHELVES
SPECIFICATIONS.
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
FULL
LIVING ROOM BEDROOM 3 10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
12'-8"x13'-11" 9'-0"x12'-3" CLOSET CLOSET
176 SF 110 SF 12 SF 12 SF LOW VOC LIMITS.
VINYL CARPET CARPET CARPET
11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
ROD & SHELF
13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 3 bedroom type 3A townhome - unit plan - 16
© 2019 MVAH Development LLC3 BR / 2 BATH TYPE 3B & 3C
TOWNHOME UNIT
1ST FLR NET SF: 621 sf
REF.
2ND FLR NET SF: 577 sf
WH
SQUARE FOOTAGES OF UNITS VARY PER EXTERIOR WALL CONDITIONS AND
ADJACENCIES TO OTHER SPACE TYPES, REFER TO BUILDING FLOOR PLANS.
FULL
VENTED RANGE HOOD RANGE
LAUNDRY/UTILITY
KITCHEN 6'-0"x9'-4" ALL UNITS WILL BE PROVIDED WITH THE FOLLOWING AT A MINIMUM:
11'-3"x11'-11" 56 SF
QUEEN
134 SF VINYL
GARBAGE DISPOSAL VINYL 1. HIGH SPEED INTERNET ACCESS SHALL BE PROVIDED. DATA WIRING PROVIDED SHALL
SHELVES
W D BE CAPABLE OF SUPPORTING BROADBAND OF A MINIMUM 25 MBPS DOWNLOAD
DW
BEDROOM SPEED.
9'-0"x10'-3"
92 SF 2. BEDROOM CLOSETS SHALL BE 2' X 5' MINIMUM. 1 LINEN CLOSET AND 1 COAT CLOSET
BREAKFAST BAR BEDROOM CARPET
WALL MIRROR 9'-0"x12'-0" CLOSET SHALL ALSO BE PROVIDED THAT ARE EACH 2' X 3' MINIMUM.
MEDICINE 108 SF 2'-0" x 4'-11"
CABINET CARPET 10 SF 3. REMOTE SECURITY AND INTERCOM SYSTEM SHALL BE PROVIDED.
CLOSET CARPET
HALF BATH FULLY
6'-0"x7'-4" VISITABLE 2'-0" x 4'-6" 4. VERTICAL GRAB BARS IN THE BATHTUBS/SHOWERS SHALL BE PROVIDED.
DINING 44 SF BATHROOM 9 SF
10'-9"x11'-11" VINYL CARPET 5. LEVER DOOR HARDWARE SHALL BE PROVIDED THROUGH OUT UNITS.
128 SF ROD & SHELF
VINYL 6. WATER CONSERVING MEASURES SHALL BE PROVIDED, INCLUDING HIGH-EFFICIENCY
HALL WATERSENSE TOILETS THAT USE 1.28 GALLONS PER FLUSH OR LESS, FAUCET
5'-5"x9'-8"
MEDICINE BATHROOM 55 SF AERATORS THAT USE 1.5 GALLONS PER MINUTE OR LESS IN KITCHENS AND 1.0
CABINET 5'-10"x8'-7" CARPET
UNDER-STAIR 50 SF
STORAGE WALL MIRROR GALLONS PER MINUTE IN BATHROOMS, SHOWERHEADS THAT USE 1.5 GALLONS PER
VINYL
3'-8"x6'-0"
22 SF MINUTE OR LESS.
VINYL
7. IN-UNIT WATER HEATERS SHALL BE PROVIDED THAT HAVE A MINIMUM ENERGY
LINEN
1'-4" x 3'-8"
FACTOR OF .93 FOR TANK-TYPE ELECTRIC WATER HEATERS.
5 SF
CARPET 8. ALL UNITS SHALL HAVE HEAT AND AIR CONDITIONING WITH EQUIPMENT THAT IS AT
TV
LEAST 13 SEER (14.5 SEE AND 9.25 HSPF FOR ELECTRIC HEAT PUMPS) AND USE
LIVING ROOM R-410a REFRIGERANT THAT IS CHARGED ACCORDING TO MANUFACTURER'S
11'-11"x14'-3"
170 SF SPECIFICATIONS.
VINYL
CLOSET
9. HOME ENERGY RATING SYSTEM INDEX OF 62 OR LESS.
QUEEN
3'-8" x 8'-4"
30 SF
MASTER CARPET 10. ALL INTERIOR PAINTS AND PRIMERS COMPLY WITH GREEN SEAL STANDARDS FOR
BEDROOM
10'-4"x14'-3" LOW VOC LIMITS.
ENTRY 136 SF
3'-8"x5'-0" CARPET 11. ALL ADHESIVES COMPLY WITH RULE 1168 OF THE SOUTH COAST AIR QUALITY
18 SF
VINYL MANAGEMENT DISTRICT.
12. ALL CAULKS AND SEALANTS COMPLY WITH REGULATION 8, RULE 51 OF THE BAY
AREA AIR QUALITY MANAGEMENT DISTRICT.
AUDIBLE AND VISUAL SIGNALS
INCLUDING A STROBE/HORN TYPE 13. ALL UNITS SHALL BE PROVIDED WITH IN-UNIT WASHER AND DRYERS
VISUAL SIGNALING DEVICE WIRED TO
ALL SMOKE DETECTORS IN SIGHT
AND HEARING IMPAIRED UNITS ONLY
FIRST FLOOR SECOND FLOOR
unit plan
3/16"=1'-0"
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa 3 bedroom type 3B / 3C townhome - unit plan - 17
© 2019 MVAH Development LLCEXTERIOR FINISH LEGEND
FACE BRICK VENEER (FB-1)
FIBER CEMENT SIDING, LAP-STYLE (FC-1).
FIBER CEMENT SIDING, SHAKE-STYLE (FC-2).
ROOFING, ARCHITECTURAL FIBERGLASS SHINGLES
(AFS-1). ANTI-FUNGAL AND MIN. 30-YEAR WARRANTY
SHEET METAL FLASHING AND TRIM. ALL PRE-FINISHED
METAL GUTTER, DOWNSPOUTS, FASCIAS, ETC. TO BE BY
DIMENSIONAL METALS INC.
COLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa buildings B & C - building elevations - 18
© 2019 MVAH Development LLCCOLLEGE CREEK LOFTS & TOWNHOMES 09.10.20
ames, iowa representative project rendering - 19
© 2019 MVAH Development LLCATTACHMENT B—ENERGY CONSERVATION
AND GREEN BUILDING FEATURES
CITY OF AMES RFP
Attachment B includes the following:
• Summary of energy conservation and green building features.Energy Conservation and Green Building Features
MVAH is committed to energy conservation and environmental stewardship throughout our portfolio. Nearly all of our
new developments, and every MVAH project in Iowa, achieve EnergyStar Certification and Home Energy Rating System
(HERS) of 62 or less, making them among the most efficient new construction buildings in the country. This project will
meet exceed or exceed those expectations, as well.
MVAH achieves this by including energy efficient LED lighting exclusively, using Energy Star certified appliances and
Heating, Cooling, and Domestic Hot Water Equipment. Every unit will have its own smart thermostat and residents will be
trained to program home and away schedules as part of the move-in process. All three building will have enhanced
buildings envelopes and be subject to blower door testing to detect air leakage and a rigorous commissioning process for
the mechanical equipment. We will also use Watersense recognized conservation measures, including: a) High-efficiency
toilets that use 1.28 gallons per flush or less, b) faucet aerators that use 1.5 gallons per minute or less in kitchens and 1.0
gallons per minute in bathrooms, and c) showerheads that use 1.5 gallons per minute or less.
This project gives us the unique ability to connect to the regional geothermal system. We know that it will not only be
important to right size the equipment in our buildings, but to also provide residents outreach, tools and training to truly
achieve savings. We are committed to working with the community, our design team, and our residents to maximize the
energy savings.
In addition to energy conservation, MVAH pays special attention to make sure the air inside the buildings is safe and
healthy. Especially in these unusual times, healthy indoor air and preventing cross contamination is critically important. In
this region, we always provide depressurized units via an always on active ventilation system creating an environment
where odors and contaminates will not infiltrate from unit to the next. To have clean healthy air you must start with safe
building materials. We only use low Volatile Organic Chemical (VOC) interior paints and primers that comply with Green
Seal Standards. All adhesives will comply with rule 1168 of the South Coast Air Quality Management District and all caulks
and other sealants will comply with Regulation 8, Rule 51 of the Bay Area Air Quality Management District.
Our commitment to the environment does not end at the walls of the building. We will also recycle everything that is
recyclable during the construction process, use native planting to limit water usage, Plant shade tress to contribute to
lower heating an cooling costs, and use only high efficiency daylight sensing LED site lighting that is properly shielded to
reduce light pollution.
9100 Centre Pointe Dr. Suite 210 West Chester, OH 45069 (513)-964-1140ATTACHMENT C—FINANCING PLAN
CITY OF AMES RFP
Attachment C includes the following:
• Project proforma including proposed funding sources.
• Estimated construction costs (accounting for federal Prevailing Wage requirements).
• Incentives requested to support the project.Sources and Uses
College Creek Lofts and Townhomes
City Ames Iowa
Construction Permanent Per Unit
Sources
First Mortgage $ - $ 2,562,806 $ 51,256
Construction Loan $ 7,570,942
HOME $ 400,000
Tax Abatement $ -
Tax Abatement $ - $ -
LIHTC Equity $ 1,461,454 $ 7,307,269 $ 146,145
Neighborworks $ -
GP Equity $ 100 $ 100 $ 2
Deferred Developer Fee $ - $ 127,198 $ 2,544
Total $ 9,032,496 $ 10,397,373 $ 207,947
Project Cost Subtotals Per Unit Acq Basis Rehab/Cons Basis
Uses
Property Acquisition
Land Acquisition Cost $ - $ - $ -
Building Cost $ - $ - $ -
Transfer Taxes $ - $ -
Payoff/Assumption of Existing Debt $ - $ -
Prepayment Penalty $ - $ -
Carrying Costs $ -
Acquisition Total $ - $ -
Construction/Rehab Costs $ 6,607,143 $ 132,143 $ 6,607,143
General Requirements $ 264,286 $ 5,286 $ 264,286
Builder's Overhead $ 132,143 $ 2,643 $ 132,143
Builder's Profit $ 264,286 $ 5,286 $ 264,286
Bonding Fee $ 66,071 $ 1,321 $ 66,071
Builder's Risk Insurance $ 66,071 $ 1,321 $ 66,071
Construction Subtotal $ 7,400,000 $ 148,000
Hard Cost Contingency $ 363,393 $ 363,393 $ 7,268 $ 72,679
Environmental Remediation $ 25,000 $ 500 $ 25,000
Geotech $ 25,000 $ 500 $ 25,000
Permits $ 25,000 $ 500 $ 25,000
State Surcharge $ -
Security $ -
Appraisal $ 15,000 $ 300 $ 15,000
Environmental - Phase I $ 10,000 $ 200 $ 10,000
Environmental - Phase II $ - $ - $ -
Parkland Dedication Fee $ 1 $ 0 $ 1
Market Study $ 10,000 $ 200 $ 10,000
Survey $ 10,000 $ 200 $ 10,000
Traffic/Corridor Study $ - $ -
Legal - Organization $ -
Legal - Transaction $ 75,000 $ 1,500 $ 75,000
Legal - Syndication
Legal - Misc $ -
Accounting $ 27,500 $ 550
Title & Recording $ 33,000 $ 660 $ 33,000
Architecture & Engineering $ 296,000 $ 5,920 $ 296,000
Additional A&E $ 30,000 $ 600
Initial Lease Up $ -
Soft Contingency $ -
Furniture & Equipment $ 50,000 $ 1,000 $ 50,000
Construction period insurance $ 40,000 $ 800 $ 40,000Construction period real estate taxes $ 20,500 $ 410
Development Costs Subtotal $ 692,001 $ -
Operating Reserve $ 206,293 $ 4,126
Working Capital Reserve $ -
Tax & Insurance Escrow $ 135,675 $ 2,714
IOD Reserve $ -
Replacement Reserve $ 20,000 $ 400
Revenue Deficit Reserves $ -
Reserves/Escrows $ 361,968 $ -
LIHTC Allocation and Reservation Fee $ 84,000 $ 1,680
IAHTC Reservation Fee
Syndicator Fee/Legal $ -
Cost Certification $ 10,000 $ 200 $ 10,000
Constructon Plan & Cost Review $ 20,000 $ 400 $ 20,000
Historic Tax Consultant $ - $ - $ -
Application & Issuance Fee $ 14,000 $ 280
First Mortgage Origination $ 25,628 $ 513
MIP $ -
First Mort Debt Service Reserve $ -
Custodian Fee
First Mort Legal Fee $ 35,000 $ 700
Swap $ -
Construction Loan Fee $ 49,211 $ 984
Construction Loan Inspection $ 20,000 $ 400
Construction - cost review $ 10,000 $ 200
Lender Legal $ 45,000 $ 900
Lender Conversion Fee $ -
Issuer Fee - Series A $ -
Issuer Counsel Fee - Series A $ -
Bond Counsel Fee - Series A $ -
Underwriting Fee - Series A $ -
Underwriter's Counsel - Series A $ -
Trustee and Counsel - Series A $ -
Rating Agency - Series A $ -
Printing $ -
Negative Arbitrage $ -
Underwriter Counsel - Series B $ -
Underwriter Takedown - Series B $ -
Bond Counsel - Series B $ -
Series B LOC fee $ - $ -
Series B Interest (Negative Arb) $ - $ -
Series B Rating $ -
Series B Legal $ -
Construction Loan - Interest $ 280,000 $ 5,600 $ 254,819
Financing Subtotal $ 592,839 $ -
Developer Fee $ 987,172 $ 987,172 $ 19,743 $ 987,172
Total $ 10,397,373 $ 10,397,373 $ 207,947 $ - $ 9,358,670Unit Mix & Income
College Creek Lofts and Townhomes
Rental Income
Beds Baths % of AMI Average SF # of Units Total SF Gross Rent Utility Net Rent Subsidy Monthly Income Annual Rental
per Unit Allowance Income
2 BR 2 30% 900 4 8.00% 3,600 639 $ 111 528 No $ 2,112 25,344
2 BR 2 40% 900 8 16.00% 7,200 852 $ 111 741 No $ 5,928 71,136
2 BR 2 60% 900 10 20.00% 9,000 875 $ 111 $ 764 No $ 7,640 $ 91,680
2 BR 2 Market 900 3 6.00% 2,700 875 $ - $ 875 No $ 2,625 $ 31,500
3 BR 2 30% 1250 4 8.00% 5,000 738 $ 139 $ 599 No $ 2,396 $ 28,752
3 BR 2 40% 1250 7 14.00% 8,750 984 $ 139 $ 845 No $ 5,915 $ 70,980
3 BR 2 60% 1250 12 24.00% 15,000 1,000 $ 139 $ 861 No $ 10,332 $ 123,984
3 BR 2 Market 1250 2 4.00% 2,500 1,000 $ - $ 1,000 No $ 2,000 $ 24,000
Total 50 53,750 $ 38,948 $ 467,376
Utility Allowances
Heating - Electric Cooking Other Electric A/C Water Heating
Electric (gas)
Efficiency
One Bedroom $ 18 $ 8 $ 26 $ 4 $ 7
Two Bedroom $ 34 $ 10 $ 34 $ 7 $ 26
Three Bedroom $ 43 $ 11 $ 42 $ 10 $ 33
Four Bedroom
Other Income Total Income
Income Limits General Other Income $ 6,000
IFA Vending
2020 30% 40% 50% 60% Parking
Efficiency $ 497 $ 663 $ 828 $ 994 Late Fees
One Bedroom $ 532 $ 710 $ 887 $ 1,065 Total $ 6,000
Two Bedroom $ 639 $ 852 $ 1,065 $ 1,278
Three Bedroom $ 738 $ 984 $ 1,230 $ 1,476 Total Gross Potential Income $ 473,376
Four Bedroom Less Residential Vacancy 7% $ (32,716)
Less Commercial Vacancy 50% $ -
Less Other Income Vacancy 7% $ (420)
Total Effective Gross Income $ 440,240
Operating Expenses $ 252,043
Replacement Reserve $ 15,000Operating Expenses
College Creek Lofts and Townhomes
Stabilized Year per unit
Admin Expenses
Advertising and Marketing 1,000 $ 20
Other Renting Expenses $ -
Office Expenses 5,000 $ 100
Office or Model Apartment Rent $ -
Management Fee 6% 28,043 $ 561
Administrative Rent Free Unit - $ -
Legal & Accounting Expense 10,000 $ 200
Audit Expense 5,000 $ 100
Miscellaneous Admin Expense $ -
Total Admin Expenses 49,043 $ 981
Utilities
Utility Mgmt $ -
Electricity 2,000 $ 40
Water 2,000 $ 40
Gas 2,000 $ 40
Sewer 4,000 $ 80
Trash $ -
Total Utilities Expenses 10,000 $ 200
Operating and Maintenance
Supplies $ -
Contracts 3,000 $ 60
Elevators
Extermination 3,000 $ 60
Garbage and Trash Removal 3,000 $ 60
Security Payroll/Contract $ -
Security Other $ -
Heating/Cooling Repairs/Maint. 3,000 $ 60
Landscaping / Snow Removal $ -
Turnover 2,500 $ 50
Miscellaneous O & M $ -
Total O&M Expenses 14,500 $ 290
Payroll
Admin / Mgr Payroll 50,000$ 1,000
Maintenance Payroll 50,000$ 1,000
Front Desk - $ -
Benefits & Payroll Taxes (% of Payroll) 25% 25,000$ 500
Workers Comp $ -
Total Payroll 125,000 $ 2,500
Taxes and Insurance
Real Estate Taxes 41,000 $ 820
Property and Liability Insurance 12,500 $ 250Fidelity Bond Insurance $ - Lease $ - Total Taxes & Insurance 53,500 $ 1,070 Total Cost of Operations 252,043 $ 5,041 Replacement Reserve Deposits $ 300 $ 15,000 $ 300 Total Cost of Operations Including Rep Res 267,043 $ 5,341
15-Year Cashflow College Creek Lofts and Townhomes Assumptions Residential Escalation 2% Commercial Escalation 2% Other Income Escalation 0% Expense Escalation 3% Property Tax Escalation 4% Replacement Reserve Escalation 3% Residential Vacancy 7% Commercial Vacancy 50% Other Income Vacancy 7% Income Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Residential GPR $ 467,376 $ 476,724 $ 486,258 $ 495,983 $ 505,903 $ 516,021 $ 526,341 $ 536,868 $ 547,605 $ 558,558 $ 569,729 $ 581,123 $ 592,746 $ 604,601 $ 616,693 Commercial GPR $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Other Income GPR $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 $ 6,000 (Res Vacancy) $ (32,716) $ (33,371) $ (34,038) $ (34,719) $ (35,413) $ (36,121) $ (36,844) $ (37,581) $ (38,332) $ (39,099) $ (39,881) $ (40,679) $ (41,492) $ (42,322) $ (43,168) (Comm Vacancy) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - (Other Vacancy) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) $ (420) Effective Gross Income $ 440,240 $ 448,933 $ 457,800 $ 466,844 $ 476,070 $ 485,479 $ 495,077 $ 504,867 $ 514,853 $ 525,039 $ 535,428 $ 546,025 $ 556,834 $ 567,859 $ 579,104 Operating Expenses Total Admin (Less PM Fee) $ 21,000 $ 21,630 $ 22,279 $ 22,947 $ 23,636 $ 24,345 $ 25,075 $ 25,827 $ 26,602 $ 27,400 $ 28,222 $ 29,069 $ 29,941 $ 30,839 $ 31,764 Property Manager Fee 6% $ 28,043 $ 28,603 $ 29,175 $ 29,759 $ 30,354 $ 30,961 $ 31,580 $ 32,212 $ 32,856 $ 33,513 $ 34,184 $ 34,867 $ 35,565 $ 36,276 $ 37,002 Total Utilities Expenses $ 10,000 $ 10,300 $ 10,609 $ 10,927 $ 11,255 $ 11,593 $ 11,941 $ 12,299 $ 12,668 $ 13,048 $ 13,439 $ 13,842 $ 14,258 $ 14,685 $ 15,126 Total O&M Expenses $ 14,500 $ 14,935 $ 15,383 $ 15,845 $ 16,320 $ 16,809 $ 17,314 $ 17,833 $ 18,368 $ 18,919 $ 19,487 $ 20,071 $ 20,674 $ 21,294 $ 21,933 Total Payroll $ 125,000 $ 128,750 $ 132,613 $ 136,591 $ 140,689 $ 144,909 $ 149,257 $ 153,734 $ 158,346 $ 163,097 $ 167,990 $ 173,029 $ 178,220 $ 183,567 $ 189,074 Real Estate Taxes $ 41,000 $ 42,640 $ 44,346 $ 46,119 $ 47,964 $ 49,883 $ 51,878 $ 53,953 $ 56,111 $ 58,356 $ 60,690 $ 63,118 $ 65,642 $ 68,268 $ 70,999 Property and Liability Insurance $ 12,500 $ 12,875 $ 13,261 $ 13,659 $ 14,069 $ 14,491 $ 14,926 $ 15,373 $ 15,835 $ 16,310 $ 16,799 $ 17,303 $ 17,822 $ 18,357 $ 18,907 Fidelity Bond Insurance $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Lease $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Total Operating Expenses $ 252,043 $ 259,733 $ 267,666 $ 275,847 $ 284,286 $ 292,991 $ 301,970 $ 311,232 $ 320,787 $ 330,643 $ 340,810 $ 351,300 $ 362,121 $ 373,286 $ 384,804 Replacement Reserve $ 15,000 $ 15,450 $ 15,914 $ 16,391 $ 16,883 $ 17,389 $ 17,911 $ 18,448 $ 19,002 $ 19,572 $ 20,159 $ 20,764 $ 21,386 $ 22,028 $ 22,689 Net Operating Income $ 173,197 $ 173,749 $ 174,221 $ 174,606 $ 174,901 $ 175,099 $ 175,196 $ 175,187 $ 175,065 $ 174,824 $ 174,459 $ 173,961 $ 173,326 $ 172,545 $ 171,611 Debt Service - First Mortgage $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 $ 145,544 Debt Service - Second Mortgage $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Cashflow After Debt Service $ 27,653 $ 28,206 $ 28,677 $ 29,062 $ 29,357 $ 29,555 $ 29,653 $ 29,643 $ 29,521 $ 29,280 $ 28,915 $ 28,418 $ 27,782 $ 27,001 $ 26,067 Debt Service Coverage Ratio (1st and 2nd Mortgage) 1.19 1.19 1.20 1.20 1.20 1.20 1.20 1.20 1.20 1.20 1.20 1.20 1.19 1.19 1.179 Expense Coverage Ratio 1.65 1.63 1.61 1.60 1.58 1.56 1.55 1.53 1.52 1.50 1.48 1.47 1.45 1.44 1.42 Deferred Developer Fee Payment $ 27,653 $ 28,206 $ 28,677 $ 29,062 $ 29,357 $ 29,555 $ 89
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