McCrimmon Transit Small Area Plan - 2013

TOWN OF MORRISVILLE

18 | Technical Analysis TOWN OF MORRISVILLE McCRIMMON STATION AREA DEVELOPMENT MARKET ANALYSIS Exhibit 36 Forecasted Station Area New Development Value by 2035 » » EXHIBIT 36 : Forecasted Station Area New Development Value by 2035 (excerpt)

Total Estimated Station Area Value 2035

Average Local Market Value/ Unit or SF (2011$)

Total Demand 2010 - 2035

Total Acres

Share of Total Value in 2035

Land Use Category

Product Picture

Intensity

Traditional Neighborhood Design Single-Family Homes

50' average fronts 7.4 DU/AC

6%

101

13.7

$285,000

$28,868,417

Entry Level Townhomes

Two-Story 14 - 20 DU/AC

19%

494

25.7

$175,000

$86,396,678

Walkable Core Townhomes

Two to Three-Story, 14 - 16 DU/AC

350

23.0

$250,000

$87,436,919

19%

Three-Story, Some Over Retail, 18 - 24 DU/AC Three- Five Floors, Some Over Retail, 20 - 30 DU/AC

Walkable Core Condominiums

186

8.5

$200,000

$37,204,266

8%

Walkable Core Apartments

922

36.3

$135,000

$124,522,385

27%

100% One Floor, some with Office or Residential Above

Neighborhood/ Walkble Core Retail

4%

100,325

9.2

$200

$20,065,043

Min. 50% One Floor, some over retail, with remaining being 2 floors

Neighborhood/ Walkable Core Office

1%

43,000

3.9

$160

$6,880,000

Regional-Serving Office

9%

Three - Five Floors, .4to .5 FAR

197,700

10.0

$220

$43,493,890

Limited Service Hotel

$110,000/Door $226/SF

5%

NA

8.0

$24,869,382

Three Floors

Total Acres: 138.4 Est. Total Value:

$459,736,981

SOURCE: Noell Consulting Group SOURCE: Noell Consulting Group

Value Summary 1/29/2013