Posted May 27, 2007, 4:25 PM
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them bones
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Join Date: Jul 2001
Location: Santa Barbara adjacent
Posts: 7,400
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Quote:
Originally Posted by TowerDistrict
maybe i'm screwing up the math here, but if you can build at $100 per square foot, for units at 400 sq. ft, with $20 million you could build 500 units. that's pretty substantial.
that figure would be excluding land costs... but CADA already owns the land in their cases, so why no takers yet?
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You'd be damn lucky to build at $250/SF (excluding land costs). Now you're down to 200 units...not so profitable...
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