Ascencia - Administrative GP / Owner

 

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Highlights

  • Total Development Cost:  X million
  • Total Units: 180
  • 50 One Bedroom Units for 50% AMI
  • 65 Two Bedroom Units for 50% AMI 
  • 53 Three Bedroom Units for 50% AMI
  • 1 Employee Unit
  • Construction Cost Per Square Foot: $X
  • Per Unit Cost: $X
  • True Cash Per Unit: $X
  • Rehab Costs: $X
  • Land + Acquisition: X

Overview

Ascencia will consist of one elevator-served building containing five stories of residential encompassing 180 one, two, three, and four-bedroom units over two levels of podium parking containing 117 parking stalls. The building will also contain a community room, management office, laundry room, computer room, and 8,700 square-foot preschool. The site will also be improved with two common area courtyards. The buildings will be wood frame construction with stucco, corrugated metal, and concrete edged exterior. All of the units will be LIHTC-restricted to households earning at or below the 50 percent area median income (AMI) level, with the exception of two employee units.

Financial Model

Ascencia will be a family property targeting income-qualified households ranging in size from two to six persons. Based on the proposed unit mix, the annual income for income-eligible households will range from $34,080 to $70,300.

Community

Partners

We were honored to work with these amazing partners on this project.