15-27 Boston st. Andrew Square, South Boston, 233,400 s.f. proposed mixed-use complex

 CONSTRUCTION COSTS

 SF PER SF COSTS* Total

Office 33,300 $ 150.00 $ 4,995,000.00

Retail 33,300 $ 125.00 $ 4,162,500.00

Hotel 204 Rooms 42,840 $ 81.00 $ 3,470,040.00

Atrium 4,700 $ 100.00 $ 470,000.00

Parking 172 Spaces $15,000/space $ 2,580,000.00

Mosque 7,400 $ 200.00 $ 1,480,000.00

Turkev 8,500 $ 150.00 $ 1,275,000.00

SOFT COSTS

Site Improvement/Engineering

Building Design and Engineering

Financial:

Construction Period Interest

Financing Fees

Legal Advertising

Leasing Costs

Tenant Build Out Allowance

Administrative

Contingency $ 7,373,016.00

Land $ 5,000,000.00

Total $ 30,805,556.00

Operational COSTS/yr $ 3,400,000.00

*As determined by Owner

INCOME SF RENT/SF/YR Total/yr

Office 33,300 $ 20.00 $ 666,000.00

Retail 33,300 $ 15.00 $ 499,500.00

Hotel 204 Rooms 42,840 $170/night $ 12,658,200.00

Turkev 8,500 $ 10.00 $ 85,000.00

Parking 172 Spaces $20/night $ 1,255,600.00

Total $ 15,164,300.00

COSTS SF PER SF COSTS** Total SALES TOTAL

Office 33,300 $ 225.00 $ 7,492,500.00 $300/sf. $ 9,990,000.00

Retail 33,300 $ 225.00 $ 7,492,500.00 $300/sf. $ 9,990,000.00

Hotel 204 Rooms 42,840 $ 120.00 $ 5,140,800.00 $100,000/rm $ 20,400,000.00

Atrium 4,700 $ 140.00 $ 658,000.00 ‐ ‐

Parking 172 Spaces $40,000/space $ 6,880,000.00 $40,000/space $ 6,880,000.00

Mosque 7,400 $ 400.00 $ 2,960,000.00 ‐ ‐

Turkev 8,500 $ 250.00 $ 2,125,000.00 $300/sf.

$ 2,550,000.00

SOFT COSTS $ 13,099,520.00 ‐ ‐

Land $ 5,000,000.00 ‐ $ 15,000,000.00

Total $ 50,848,320.00 $ 64,810,000.00

Operational COSTS/yr $ 3,400,000.00

 **As Determined by Commodore Builders

Kervan Saray

@

Andrew Sq. South Boston

The Andrew Square neighborhood is in a busy, rapidly changing section of the City. The neighborhood is divided by a commuter rail line and a major highway while remaining connected to the downtown business district via the subway. The transportation hub of the city, South Station, is but two stops away.

The site of this proposed 233,400 s.f. mixed-use development is 530 feet from the Andrew Square subway entrance and twenty minutes from the airport via subway.

The parcel is bound on three sides by public ways and on the fourth side by low scale commercial and residential buildings. The principal office, retail and cultural center building faces Boston Street at the front of the site and the hotel faces Ellery Street to the rear of the site.

A mosque sits atop the 4-story retail and office building along with Boston’s Turkish House (Turkev). The location of the mosque is highlighted by non-traditional minarets at two corners which help establish its presence as a place of peace and reconciliation in the Andrew Square community.

This main building shares its entry with the public at street level via a widened sidewalk and a colonnaded access into the first floor level shops and elevators to the upper levels. The intention here is to promote seasonal outdoor merchandizing and cafe activity.

The 12-story hotel to the rear of the site may be accessed from either Boston Street or via auto at the rear of the site on Ellery Street. This is a limited service hotel (no formal ballroom, no pool, etc.) However, its location vis a vis downtown via auto or subway puts it in close range of the financial, medical and educationalinstitutions that are the cornerstones of the City’s life.

The common space between the hotel and the commercial building is an enclosed, sky lit courtyard to beshared by all users of these properties. And, below the entire site are three levels of parking totaling 257spaces.

The project has been designed as a destination for commerce, culture and an outreach for things Turkish in New England and beyond.