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ELF Financing Strategy
<br /> San Mateo County ELF Study‐2016
<br />February 21, 2017
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<br />Prepared by Brion Economics Team Final Report 37
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<br />Table A‐8
<br />Detailed Sample Employer‐Based Child Care Center Project Cost Estimates
<br />San Mateo Countywide ELF Study ‐ 2016
<br />No. Type Program Year
<br />2016
<br />Inflation
<br />%
<br />Construction
<br />Type
<br />Total Sqft
<br />of Bldg.
<br />Space
<br /># of
<br />Children
<br />or Spaces
<br />Sqft of
<br />Bldg. Space
<br />per Child
<br />Sqft of
<br />Outdoor
<br />Space
<br />Total
<br />Cost per
<br />Sqft
<br />Total
<br />Center &
<br />Outdoors
<br />Costs
<br />Overall,
<br />Total
<br />Cost Per
<br />Child
<br />1Employer Based SF Center 2016 0%Renovation 12,000 116 103 8,900 $425 $5,100,000 $43,966
<br />2Employer Based
<br />San Mateo
<br />Co.2015 2%Renovation 7,280 80 91 5,000 $419 $3,048,000 $38,100
<br />Average Commercial Renovations 9,640 98 97 6,950 $422 $4,074,000 $41,033
<br />Data provided by Jane Kreshner, via email; November 2016.
<br />Note: Excludes soft costs such as design and financing.
<br />Sources: Ginsburg Kershner Associates; Brion Economics, Inc.
<br />Table A‐9
<br />Detailed Commercial Vacant Land Costs
<br />San Mateo Countywide ELF Study ‐ 2016
<br />Address City
<br />Sale Price 2015
<br />$ (1) Sale Date Site Area
<br />Price/SF
<br />Land in
<br />2015 $
<br />Central San Mateo County
<br />480 East 4th Avenue San Mateo $5,100,000 2013 50,573 $101
<br />1804 Leslie Street San Mateo $1,000,000 2011 13,939 $72
<br />900 El Camino Real Belmont $655,000 2010 8,400 $78
<br />Average $2,251,667 24,304 $84
<br />Northern San Mateo County
<br />480 El Camino Real Millbrae $1,100,000 On Market 5,663 $194
<br />1001‐1015 E. Market Street Daly City $2,250,000 On Market 37,897 $59
<br />6800 Mission Street Daly City $1,350,000 2012 17,424 $77
<br />7255 Mission Street Daly City $1,225,000 2012 20,038 $61
<br />Average $1,481,250 20,256 $98
<br />Southern San Mateo County
<br />3264 Haven Avenue Redwood City $3,179,000 On Market 27,000 $116
<br />1706 El Camino Real Menlo Park $2,200,000 2011 27,007 $81
<br />1300 El Camino Real Menlo Park $24,500,000 2012 145,490 $168
<br />Average $2,689,500 27,004 $122
<br />Sales data from the San Mateo County Housing Impact Fee Nexus Study (2015), Figure VII‐8.
<br />(1) Sales are from different years. Numbers adjusted to 2016 dollars by CPI.
<br /> http://www.bls.gov/data/inflation_calculator.htm
<br />Sources: San Mateo County Housing Impact Fee Nexus Study; Brion Economics, Inc.
<br />8.C. - Page 56
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