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Echo Boomer Garden Style Tax Credit
   

Twenty-four percent of the United States population are Echo Boomers (the children of Baby Boomers) and most qualify for affordable housing built with tax credits.  This webpage summarizes this opportunity, provides an example of the market, and describes a Garden Style walk up solution that pencils.

                                              At home in any residential neighborhood                                      

   

The Opportunity

    •  72 million Echo Boomers ages 18 – 29
    •  24% of U.S. population
    •  94% are single
    •  With median incomes of $27,700
    Who do not have:
    • 
Affordable housing in most communities

                                               At home in any mixed use suburban neighborhood   

The Market, Orange County Example

9% Tax Credits
   
•  100,373 are eligible and can afford the qualifying rent.(1)
    •  Only 126 of 216,000 existing units are affordable for
        this group

4% Tax Credits
   
•  71,179 are eligible and can afford the qualifying rent.(2)
    •  Only 13,000 of 216,000 existing units are affordable
        for this group

           At home in any urban edge neighborhood     

Why Studios?

    •  94% of Echo Boomers are single
    •  Fewer square feet to reduce cost needed to pencil
    •  Our survey shows these units rent 62% more quickly with
        a turnover 77% less often or equal to other units


Garden Style 3-Story Building Plan                           

Overcoming City Resistance to SROs

    • Seen as homeless shelters
    • However, only 1.16% of the U.S. are homeless
    • 24% are Echo Boomers
    • Who are the children of city council members

The American Solution

    •  Efficient Pre-Value EngineeredSM studio units that pencil
    •  One stop design/build/green building design
    •  Guaranteed pricing at feasibility
    •  Unparalleled quality
    •  Pricing reflective of our efficiencies

Garden Style Building Plan

The building plan is one of many configurations and sizes American will use to maximize your site’s density from 20 to several hundred units.

We can achieve:   

    •  Two Story Garden Style Studios, surfaced parked – densities of 50+ units/acre
    •  Three Story Garden Style Studios, surfaced parked – densities of 65 units/acre
    •  Four and Five Story Urban Studios and Lofts – densities approaching 230 units/acre

With the design flexibility of our Garden Style Studio Plan, we can create similar cost
efficiencies on multiple small sites to those we can create on a single large site.

   

Studio Unit Plan - 364 Sq. Ft.

American’s pre-designed and Pre-Value EngineeredSM studio plan meets the CA Tax Credit Allocation Committee (CTCAC) requirements for single room occupancy, and building code and accessibility requirements for efficiencies, while creating separate living and sleeping areas with cross ventilation around and through the units significantly reducing energy costs.

Base Design Includes:  

 

   •  Granite countertops                                                                                                                          2nd and 3rd Floor Studio Plan                          

    •  9 foot ceilings

    •  Ceiling fans

    •  Clay tile/brick/steel features

    •  Sustainable products, including LEED Certification(3) (to obtain max CTCAC points)

   

At home in any urban edge neighborhood                                  

Optimal Site Plan Example (click here)

    •  3-Story walk-ups

    •  220 Garden Style units

    •  Surface parked at 1.25/unit

    •  Designs achieves 65 units/acre

    •  Amenities tailored to Echo Boomers

Complimentary Design & Guaranteed Pricing

American will provide two complimentary preliminary

design schemes at the feasibility stage with guaranteed

construction pricing.

  At home in any mixed use suburban neighborhood    


See For Yourself!

Come tour our fully furnished product prototype. We can

discuss the cost of alternatives before the first line is

drawn, significantly reducing your risk.

Contact Us!
Greg Parker
greg@americanmultifamily.com
714-377-1414

At home in any residential neighborhood     

For two decades American has been passionate about delivering the highest quality multifamily neighborhoods for the lowest cost.
We provide turn-key design/build services, creating multifamily neighborhoods, ranging from 1 million to 100 million dollars

americanmultifamily.com

General Construction   -   Architecture   -   Site Planning   -   Construction Management   -   Green Building Consultants


The drawings, designs and concepts depicted in this webpage are the intellectual property of American Multifamily, Inc.  This webpage is not to be disclosed, disseminated, distributed or copied and the contents, designs, and ideas represented in this webpage are not to be used for any purpose without the written consent of American Multifamily, Inc.

(1)  The number of Echo Boomers in this category was determined by adding the Echo Boomers who have monthly incomes where the rent of $1100 is not more than 35%

(2)  Our analysis includes prevailing wage which is required for the HUD 221(d)(4) program

(3)  The LEED level of certification is included in the base design. The designs are upgradeable to LEED Silver, Gold, and Platinum. American can also provide solar cost/benefit analysis and design

   
 
Echo Boomer Garden Style Site Plan Examples
   




 
 

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