There are no SRO?s in this building. This might be seen as a benefit or not, but many of the other units will have sufficient SROs. If you want to know about the finances, then you can look below. Since all of the finances are intended for profitability, there is a need to remain sustainable. As for the price of the apartment for the manager, or the commercial spaces in floors 1-3, there are no assumptions for payments. Therefore, all of the amounts are to assume that there is 100% occupancy for the apartment. This is due to quality apartments for low income tenants at a premium, and there are simply not enough properties for Section-8 as there are a need for such properties. The costs are as follows:
$1,620/month for 24 1B apartments = $38,880/month
$1,950/month for 18 2B apartments = $35,100/month
$2,490/month for 12 3B apartments = $29,880
$2,690/month for 6 4B apartments = $16,140
Total: $120,000
If the employee was to take their included 3B apartment, they will pay $1,245 for their apartment, and the apartment rent will come out of their check. If the tenant is on Section-8, and don’t qualify for a 3B apartment, the tenant will remain in their unit, but charged based on what they qualify for. For example, the rent for a 1B is $1620, and that is what the employee will be billed for. If they lose their employment, and still wish to live in this building, they will have to move on the first available 1B (or what they qualify for) apartment in order to open their employee housing to the next employee.