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SUBJECT: SOUTH BOULDER ROAD SMALL AREA PLAN DRAFT <br />DATE: MARCH 29, 2016 <br />PAGE 4 OF 5 <br />Retail 25k -50k SF <br />Employees /1000 SF <br />2.86 <br />Market Value /SF <br />$259 <br />Construction Value /SF <br />$185 <br />Sales per SF <br />$300 <br />Trips <br />85.56 <br />Adjustment Factor <br />31% <br />Retail >50k SF <br />Employees /1000 SF <br />2.50 <br />Market Value /SF <br />$245 <br />Construction Value /SF <br />$175 <br />Sales per SF <br />$300 <br />Trips <br />67.91 <br />Adjustment Factor <br />30% <br />Office <25k SF <br />Employees /1000 SF <br />4.13 <br />Market Value /SF <br />$272 <br />Construction Value /SF <br />$194 <br />Sales per SF <br />$0 <br />Trips <br />18.31 <br />Adjustment Factor <br />50% <br />Office 25k -50k SF <br />Employees /1000 SF <br />3.88 <br />Market Value /SF <br />$259 <br />Construction Value /SF <br />$185 <br />Sales per SF <br />$0 <br />Trips <br />15.50 <br />Adjustment Factor <br />50% <br />Office >50k SF <br />Employees /1000 SF <br />3.63 <br />Market Value /SF <br />$245 <br />Construction Value /SF <br />$175 <br />Sales per SF <br />$0 <br />Trips <br />13.13 <br />Adjustment Factor <br />50% <br />The model assumes the residential development will build out over the first three years, <br />and the commercial over 10 years. The 2013 Comprehensive Plan update calls for <br />positive fiscal impacts from the South Boulder Road area, and staff believes this plan <br />satisfies that requirement. The Adjustment Factor is related to trip generation and, in <br />short, prevents double counting of trips. <br />CITY COUNCIL COMMUNICATION <br />5 <br />