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Pleasanton Comprehensive Fee Update and Nexus Study November 2024 <br /> affordable rates tends to be greater for ownership units, therefore the affordability <br /> level for these units is set at Moderate-income (120% AMI). For rental units, the <br /> affordable units will be evenly split between Very Low-income and Low-income <br /> households (50% and 60% AMI, respectively). <br /> Table 27 Inclusionary Housing Requirements <br /> Very Low Income Low Income Moderate Income <br /> Overall (50%of AMI) (60%of AMI) (120%of AMI) <br /> Ownership 15% 0% 0% 15% <br /> Rental 15% 7.5% 7.5% 0% <br /> Source: City of Pleasanton <br /> Methodology <br /> To calculate the subsidy needed to support the development of affordable units, EPS <br /> developed several residential prototypes to determine their respective development <br /> costs and estimated anticipated revenues. <br /> Housing Prototypes <br /> The prototype residential products used in the feasibility analysis were informed by <br /> EPS research on the local housing market. Research included review of recent <br /> developments and proposed projects, discussions with developers active in the region, <br /> and discussions with City staff. The chosen prototypes include one rental prototype - <br /> podium multifamily apartments - and three for-sale prototypes - condominiums, <br /> townhomes, and single-family detached homes. <br /> The critical differentiator between the for-sale prototypes is the density at which they <br /> are built and how parking is provided, with the condominium product assumed to be <br /> built at a higher density (45 units per acre) than the townhome product (20 units per <br /> acre) and with wrap-around style parking. The townhome product is assumed to <br /> include an attached, "tuck-under" garage. The single-family detached product is <br /> assumed to be developed at an even lower density (5 units per acre) and with an <br /> attached garage. The analysis also assumes that the prototypical townhome is smaller <br /> than the prototypical single-family home. In some cases, there may be additional <br /> design factors - such as whether a unit is detached or attached - that are used to <br /> define a project as a townhome or single-family home. This analysis does not account <br /> for those types of factors, only differentiating the two prototypes based on density, <br /> parking, and unit size. <br /> 46 <br />