DOMINION BOULEVARD CORRIDOR STUDY | Chesapeake, Virginia
268 | Appendix
Exhibit III-9
SELECT APARTMENT COMMUNITY COMPARABLES
CHESAPEAKE, VA
FEBRUARY 2014
MAP MANAGEMENT
YEAR FLOOR TOTAL
UNIT
AVG.
UNIT
AVG.
BASE
AVG.
AVG. EFF.
EFFECTIVE AVG. EFF.
KEY LOCATION
BUILT
PLAN UNITS MIX
BASE RENT
RENT SIZE RANGE SIZE RENT/SF RENT/SF CONCESSIONS
RENT
RENT/SF RENT/SF
1 Fenwyck Manor
2013 Garden/TH 288 100% 93.8% $1,162 - $2,142 $1,379 850
-
1,858 1,103 $1.06
-
$1.37
$1.25
$1,089 - $2,142 $1,287 $1.06
-
$1.28
$1.17
1805 Kerwyck Pl
1B/1Ba
78
27%
$1,162 - $1,162 $1,162 850 - 850
850 $1.37 - $1.37
$1.37
$1,089 - $1,089 $1,089 $1.28 - $1.28
$1.28
Chesapeake, VA 23320
2B/2Ba
102
35%
$1,311 - $1,311 $1,311 1,064 - 1,064 1,064 $1.23 - $1.23
$1.23
1 month free $1,202 - $1,202 $1,202 $1.13 - $1.13
$1.13
757-389-8387
2B/2Ba/G 12
4%
$1,540 - $1,540 $1,540 1,374 - 1,374 1,374 $1.12 - $1.12
$1.12
$1,540 - $1,540 $1,540 $1.12 - $1.12
$1.12
2B/2.5Ba/TH 78
27%
$1,450 - $1,575 $1,513 1,082 - 1,329 1,206 $1.34 - $1.19
$1.26
1 month free $1,329 - $1,444 $1,386 $1.23 - $1.09
$1.15
2B/2.5Ba/TH/G 12
4%
$1,961 - $1,961 $1,961 1,858 - 1,858 1,858 $1.06 - $1.06
$1.06
$1,961 - $1,961 $1,961 $1.06 - $1.06
$1.06
3B/3.5ba/G 6
2%
$2,142 - $2,142 $2,142 1,670 - 1,670 1,670 $1.28 - $1.28
$1.28
$2,142 - $2,142 $2,142 $1.28 - $1.28
$1.28
2 Streets of Greenbrier
2013 Garden/TH 280 100% 66.7% $965 - $1,530 $1,267 588
-
1,286 978 $1.19
-
$1.64
$1.30
$965 - $1,530 $1,267 $1.19
-
$1.64
$1.30
929 Wintercress Way
Studio
17
6% 75% pre-leased $965 - $965
$965
588 - 588
588 $1.64 - $1.64
$1.64
Admin/Holding
$965 - $965
$965
$1.64 - $1.64
$1.64
Chesapeake, VA 23320
1B/1Ba
108
39%
$1,035 - $1,170 $1,103 701 - 917
809 $1.48 - $1.28
$1.38
Fee only
$1,035 - $1,170 $1,103 $1.48 - $1.28
$1.36
757-420-4824
1B/1Ba/L
12
4%
$1,200 - $1,200 $1,200 940 - 940
940 $1.28 - $1.28
$1.28
$99
$1,200 - $1,200 $1,200 $1.28 - $1.28
$1.28
2B/2Ba
108
39%
$1,305 - $1,518 $1,412 1,020 - 1,221 1,121 $1.28 - $1.24
$1.26
$1,305 - $1,518 $1,412 $1.28 - $1.24
$1.26
2B/2Ba/L
12
4%
$1,440 - $1,440 $1,440 1,211 - 1,211 1,211 $1.19 - $1.19
$1.19
$1,440 - $1,440 $1,440 $1.19 - $1.19
$1.19
3B/2Ba
23
8%
$1,530 - $1,530 $1,530 1,286 - 1,286 1,286 $1.19 - $1.19
$1.19
$1,530 - $1,530 $1,530 $1.19 - $1.19
$1.19
3 Aura at Towne Place
2012
Garden
215 100% 95.3% $1,195 - $1,750 $1,427 739
-
1,378 1,062 $1.24
-
$1.62
$1.34
$1,195 - $1,750 $1,427 $1.24
-
$1.62
$1.34
717 Eden Way North
1B/1Ba
61
28%
$1,195 - $1,205 $1,200 739 - 748
744 $1.62 - $1.61
$1.61
None
$1,195 - $1,205 $1,200 $1.62 - $1.61
$1.61
Chesapeake, VA 23320
2B/2Ba
120
56%
$1,395 - $1,505 $1,450 1,057 - 1,213 1,135 $1.32 - $1.24
$1.28
$1,395 - $1,505 $1,450 $1.32 - $1.24
$1.28
757-296-0643
3B/2Ba
34
16%
$1,750 - $1,750 $1,750 1,378 - 1,378 1,378 $1.27 - $1.27
$1.27
$1,750 - $1,750 $1,750 $1.27 - $1.27
$1.27
4 The Carlton at Greenbrier
2012
Garden
176 100% 95.5% $1,040 - $1,665 $1,348 830
-
1,320 1,122 $1.10
-
$1.38
$1.20
$953 - $1,526 $1,236 $1.01
-
$1.27
$1.10
501 Carlton Drive
1B/1Ba
45
26%
$1,040 - $1,215 $1,128 830 - 880
855 $1.25 - $1.38
$1.32
1 month free
$953 - $1,114 $1,034 $1.15 - $1.27
$1.21
Chesapeake, VA 23320
2B/2Ba
107
61%
$1,275 - $1,465 $1,370 1,160 - 1,220 1,190 $1.10 - $1.20
$1.15
1 month free $1,169 - $1,343 $1,256 $1.01 - $1.10
$1.06
855-637-1088
3B/2Ba
24
14%
$1,665 - $1,665 $1,665 1,320 - 1,320 1,320 $1.26 - $1.26
$1.26
1 month free $1,526 - $1,526 $1,526 $1.16 - $1.16
$1.16
5 The Morgan
2010
Garden
164 100% 87.8% $1,126 - $1,705 $1,377 789
-
1,531 1,103 $1.11
-
$1.43
$1.25
$1,126 - $1,705 $1,377 $1.11
-
$1.43
$1.25
111 Gateway Court
1B/1Ba
32
20%
$1,126 - $1,192 $1,159 789 - 868
829 $1.43 - $1.37
$1.40
$1,126 - $1,192 $1,159 $1.43 - $1.37
$1.40
Chesapeake, VA 23320
2B/2Ba
92
56%
$1,373 - $1,412 $1,393 1,023 - 1,220 1,122 $1.34 - $1.16
$1.25
$1,373 - $1,412 $1,393 $1.34 - $1.16
$1.24
757-410-2440
2B/2Ba/D 32
20%
$1,450 - $1,505 $1,478 1,163 - 1,337 1,250 $1.25 - $1.13
$1.19
$1,450 - $1,505 $1,478 $1.25 - $1.13
$1.18
888-779-8143
3B/2Ba
8
5%
$1,635 - $1,705 $1,670 1,267 - 1,531 1,399 $1.29 - $1.11
$1.20
$1,635 - $1,705 $1,670 $1.29 - $1.11
$1.19
6 Tapestry Park
2011
Garden
190 100% 100.0% $1,050 - $1,655 $1,294 786
-
1,400 1,022 $1.06
-
$1.39
$1.27
$1,050 - $1,655 $1,294 $1.06
-
$1.39
$1.27
728 Tapestry Park Loop
1B/1Ba
72
38%
$1,050 - $1,092 $1,071 786 - 786
786 $1.34 - $1.39
$1.36
None
$1,050 - $1,092 $1,071 $1.34 - $1.39
$1.36
Chesapeake, VA 23320
2B/2Ba
22
12%
$1,248 - $1,338 $1,293 1,172 - 1,172 1,106 $1.06 - $1.14
$1.10
$1,248 - $1,338 $1,293 $1.06 - $1.14
$1.17
757-548-7770
2B/2Ba
72
38%
$1,399 - $1,399 $1,399 1,280 - 1,280 1,106 $1.09 - $1.09
$1.09
$1,399 - $1,399 $1,399 $1.09 - $1.09
$1.26
3B/2Ba
24
13%
$1,650 - $1,655 $1,653 1,400 - 1,400 1,400 $1.18 - $1.18
$1.18
$1,650 - $1,655 $1,653 $1.18 - $1.18
$1.18
7 Bell Great Bridge
2009
Garden
192 100% 96.9% $1,112 - $1,475 $1,304 658
-
1,332 1,047 $1.11
-
$1.69
$1.25
$1,112 - $1,475 $1,304 $1.11
-
$1.69
$1.25
124 Fairwind Drive
1B/1Ba
48
25%
$1,112 - $1,142 $1,127 658 - 829
744 $1.69 - $1.38
$1.53
None
$1,112 - $1,142 $1,127 $1.69 - $1.38
$1.52
Chesapeake, VA 23320
1B/1Ba/G 6
3%
$1,297 - $1,297 $1,297 803 - 803 1,106 $1.62 - $1.62
$1.62
$1,297 - $1,297 $1,297 $1.62 - $1.62
$1.17
877-318-3124
2B/2Ba
111
58%
$1,301 - $1,379 $1,340 1,039 - 1,131 1,106 $1.25 - $1.22
$1.24
$1,301 - $1,379 $1,340 $1.25 - $1.22
$1.21
3B/2Ba
27
14%
$1,475 - $1,475 $1,475 1,332 - 1,332 1,332 $1.11 - $1.11
$1.11
$1,475 - $1,475 $1,475 $1.11 - $1.11
$1.11
EFFECTIVE RENT
RANGE
OCC. %
Exhibit III-9
E4-11982.40
Printed: 3/27/2014
Page 1 of 2
CITY OF CHESAPEAKE
