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is leonard leaving grantchester

• Posted by sara james October 15, 2022 Filed in Entertainment #is leonard leaving grantchester  13 views
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  Lastly, this change is going to have major implications on the broker community, residual land values and any transactions over the next several years. Developers will not be allowed to build as many units on a particular piece of land as they could have before the ruling. For example, a piece of property that is 40,000 square feet (just under one acre) in the heart of is leonard leaving grantchester Hollywood could have had a zoned density of 400 lot square feet per dwelling unit, allowing a maximum unit count of 100 units (40,000 lot square feet / 400 lot square feet per dwelling unit = 100 dwelling units). Now, with the new ruling, the zoned density for that particular parcel might have dropped to 600 lot square feet per dwelling unit, allowing a maximum unit count of 66 units (40,000 lot square feet / 600 lot square feet per dwelling unit = 66.67 dwelling units ≈ 60 dwelling units). Let's say a developer thinks they can get pretty healthy rents in this particular area of around $3.00/sf/month. Let's also assume that the developer's underwriting allows them to pay $100,000/door for land in this area for a new ground-up multi-family project to pencil at those rents. What this means is that their land basis for this 40,000 square foot property changed from $10.0M (100 units x $100,000/door) to $6.6M (66 units x $66,666/door) overnight. That's a 33% reduction in land value. One can speculate on the effect that this 'down-zoning' is going to have on the real estate market in Hollywood.