PROPERTY MANAGEMENT & DEVELOPMENT
DevYap Realty Group
25 Boston Street, Boston, MA 02127, USA
ph: 857 600 9198
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94-118 Business St. Hyde Park Boston, MA - 508,000 s.f. of mixed-use proposed complex on 4,5 acres of land
COSTS SF PER SF COSTS* Total SALES TOTAL
Residential Units 250 Units 300,000 $ 200.00 $ 60,000,000.00 $375,0
00/Unit $ 93,750,000.00
Daycare/Recreation 5,000 $ 125.00 $ 625,000.00 ‐ $ 625,000.00
Restaurant 6,000 $ 100.00 $ 600,000.00 $300/sf. $ 1,800,000.00
Indus/Retail 44,500 $ 125.00 $ 5,562,500.00 $300/sf. $ 13,350,000.00
Parking 411 Spaces $12,000/space $ 4,932,000.00 ‐ $ 4,932,000.00
Mosque 8,000 $ 200.00 $ 1,600,000.00 ‐ ‐
Bridge $ 75,000.00 ‐ ‐
Colonnade $ 750,000.00 ‐ ‐
Courtyard $ 100,000.00 ‐ ‐
Historic and New market Tax Credits $ (4,626,800.00) ‐ ‐
SOFT COSTS
Site Improvement/Engineering
Building Design and Engineering
Financial:
Construction Period Interest
Financing Fees
Legal Advertising
Leasing Costs
Administrative
Tenant Build Out Allowance
These numbers assume non‐union construction costs and fully rented residential, retail, and industrial spaces.
Note that these numbers have been determined in part by the Owner of the property and design team in
Contingency $ 27,847,080.00 ‐
Land $ 10,000,000.00 $ 50,000,000.00
Total $ 107,464,780.00 $ 164,457,000.00
Operational COSTS/yr $ 3,250,000.00
*As determined by Owner
INCOME RENT/MO. RENT/SF/YR Total/yr
Residential Units 250 Units $ 1 ,600.00 $ 4,800,000.00
Daycare/Recreation 5,000 sf. $ 16.00 $ 80,000.00
Restaurant 6,000 sf. $ 16.00 $ 96,000.00
Indus/Retail 44,500 sf. $ 14.00 $ 623,000.00
Total $ 5,599,000.00
an attempt to estimate cost, income, and sales prices.
Note that these numbers have been determined in part by the Owner of the property and design team
These numbers assume non‐union construction costs and fully rented residential, retail, and industrial spaces.
The heavy timber mill complex has been here on the banks of the Mother Brook since the time of the Civil War. These mills are surrounded by a mix of other industrial uses and a mix of single and multifamily housing.
On the south side of Mother Brook, just opposite the mills, sits a recently developed City of Boston park and recreation area that stretches well up the river.
The development program will demolish later additions to the mills to make way for improved landscaping / courtyards and restore the better character of the original buildings. These courtyards, new and restored, form a link that will unify the site.
The new work will be a combination of the adaptive re-use of the existing buildings as a combination housing and business uses as well as new housing , commercial and religious spaces that complete the site ‘s development potential totaling 508,000 s.f. The residential life of the complex will be supported by an on-site daycare center, shops, a mosque, restaurant(s), a recreational facility ...all of it accessible to the neighbors. Underground parking will be available to both the commercial and residential occupants.
In the course of converting the original mills to housing and commercial uses, it is intended that the financing take full advantage of the federal and state historic tax credits as well as the federal “new market” tax credit, all of which have been established by the Federal and State governments to promote the adaptive re-use of existing, qualified properties to house new commercial and residential uses.
FOR ALL OTHER INQUIRIES INCLUDING SURPLUS PROPERTY SALES PLEASE CALL ABYH @ 617 833 1218
DevYap Realty Group
25 Boston Street, Boston, MA 02127, USA
ph: 857 600 9198
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