Estimated Increase in Property Values Report Gowanus Rezoning Proposal October 30, 2019 DAVID PAUL ROSEN & ASSOCIATES D EVELOPMENT, FINANCE AND POLICY ADVISORS Estimated Increase in Property Values Report PREPARED FOR: Fifth Avenue Committee Pratt Center for Community Development PREPARED BY: David Paul Rosen & Associates 3527 Mt. Diablo Blvd, #361 Lafayette, CA 94549 510-451-2552
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[email protected] www.draconsultants.com Gowanus Rezoning Proposal October 30, 2019 Table of Contents Executive Summary ...................................................... 1 Background and Purpose of the Value Capture Study ......... 1 Methodology ............................................................ 5 Summary of Findings .................................................. 6 Estimated Existing Property Values ................................ 11 Existing and Proposed Zoning and Land Use in the Study Area ..................................................................... 12 Analysis of Existing Property Values ............................ 17 Prototype Economic Analysis ........................................ 25 MIH Assumptions ..................................................... 26 Residual Land Value Analysis Methodology .................... 30 Development Prototypes ........................................... 31 Economic Assumptions ............................................. 32 Estimated Increase in Property Values ...........................