I am going to include SRO?s, Studios, and 1B apartments I will not be including employee housing since they are not guaranteed to take the apartment that they would have available. With that said, the following will apply:
- 60 SROs at $750 each: $45,000
- 50 Studios at $1,290 each: $64,500
- 50 1Bedrooms at $1,380 each: $69,00
Total: $178,500
While I am not a fan of studios, I can see how it would appeal to some tenants. I will be hoping that I can appeal to 50 tenants that would want a studio. When filling out the application, the. tenant will define if they are willing to have a studio apartment, especially if the wait list of such units are smaller. For those that need to move as soon as possible, or living in an SRO, a studio will be an option.