PART 1. Do a Back-of the Envelope feasibility evaluation, given the following data: $ $ 25 $ DEVELOPMENT: Land Price (per sf) Land SF Construction Cost (psf) Building Size (sf) Cap Rate Avg Unit Size sf (rentable) Avg Unit Size sf (grossed up) Operating Expenses ($/unit) Market Rental Rate per month 25,704 150 281,325 6% 950 1,400 7,000 2,000 $ $ PART 1. Do a Back-of the Envelope feasibility evaluation, given the following data: $ $ 25 $ DEVELOPMENT: Land Price (per sf) Land SF Construction Cost (psf) Building Size (sf) Cap Rate Avg Unit Size sf (rentable) Avg Unit Size sf (grossed up) Operating Expenses ($/unit) Market Rental Rate per month 25,704 150 281,325 6% 950 1,400 7,000 2,000 $ $