Apartment construction costs.

[Jeff Cantrell]

Those who’ve built apartment complexes, I’m interested in what the cost per unit ended up being including land development. I know there are 1000 variables that effect cost and that many will have different answers based on market and unit sizes. I’d like to here your “deep dive” on what you have personal experience with.

I’m thinking about 32-64 doors on a single lot.

[Jerry Mason]

Rates on what I’m presently working on, and it has been consistent for the last 5 years in DFW, is $1.00 per sq ft of livable space. 

Current project is 38 mil, all in. About 350,000 sq ft, 3 story, no elevators, 267 units, garden style, 6 buildings (club, office and amenities area is 1/3 of the lower floor of the first building), onsite detention pond of 1/2 acre, 8 acre site, 1 decel lane added.