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This will be the first of a monthly newsletter I plan on writing and sending out to all residents and interested people, to update what has been accomplished in the month.
This will be the first of a monthly newsletter I plan on writing and sending out to all residents and interested people, to update what has been accomplished in the month.
So far I have a website that is workable, but not great. I want to publish all of our work within the website, and try not to put anything down on paper.
So far I have a website that is workable, but not great. I want to publish all of our work within the website, and try not to put anything down on paper.
I have sent away to reserve the name “The Next Wave in Housing” to the State of Washington. This is the first step needed to establish a non-profit. My plan is to establish a non profit with tax exemption in case we get donated any money or land for this project. I am not under the illusion that someone will donate the total cost of this complex to the non profit. And it is just too much to fund raise $40m dollars. Instead I would like to have a great plan and present it to a developer or somebody with resources to back us, with them retaining the cost in house and then we will buy it from them.
I have sent away to reserve the name “The Next Wave in Housing” to the State of Washington. This is the first step needed to establish a non-profit. My plan is to establish a non profit with tax exemption in case we get donated any money or land for this project. I am not under the illusion that someone will donate the total cost of this complex to the non profit. And it is just too much to fund raise $40m dollars. Instead I would like to have a great plan and present it to a developer or somebody with resources to back us, with them retaining the cost in house and then we will buy it from them.
So far we have three residences. I have sent out 2 email batches to about 40 people. I only got three responses. I was very disappointed. One person is moving out of town, the other does not think it will work for her. The other joined. I need to come up with a good plan to reach people. I have given myself about 2 years to get people on board and finalize the plan, then start looking for a sponsor. It ill be a slow process, but worth it in the end.
So far we have three residences. I have sent out 2 email batches to about 40 people. I only got three responses. I was very disappointed. One person is moving out of town, the other does not think it will work for her. The other joined. I need to come up with a good plan to reach people. I have given myself about 2 years to get people on board and finalize the plan, then start looking for a sponsor. It ill be a slow process, but worth it in the end.
Here is new info
Here is new info
Comparable complexes:
Comparable complexes:
1. Thrive Seattle-Independence with Community-Opening March 2022, Lake City & 2022 West Seattle; supportive Independent living for adults on the spectrum, with services: cost $3000; supported by:?????; Owner occupied???
1. Thrive Seattle-Independence with Community-Opening March 2022, Lake City & 2022 West Seattle; supportive Independent living for adults on the spectrum, with services: cost $3000; supported by:?????; Owner occupied???
2. Stephens Place; Vancouver, WA; supportive Independent living for people with disabilities; Cost??? Supported by Kuni Foundation; Owner occupied??
2. Stephens Place; Vancouver, WA; supportive Independent living for people with disabilities; Cost??? Supported by Kuni Foundation; Owner occupied??
My assumption is that these are not owner occupied, therefore cost would have to be augmented by charities, and subject to change in time. VS my idea to make the complex owned by the residence to control cost.
My assumption is that these are not owner occupied, therefore cost would have to be augmented by charities, and subject to change in time. VS my idea to make the complex owned by the residence to control cost.
TO DO: I would like somebody to do more research on what complexes are out there in the country.
TO DO: I would like somebody to do more research on what complexes are out there in the country.
COST
COST
I am sure that most people look at this endeavor and say it is crazy and too much money. I look at it this way: most if not all of our living spaces (houses, group homes, retirement homes, apartments) are created by other people, generally people with money, who do this to make money. I want to change that thought and make the residence be put in charge of the designing and own the complex.
I am sure that most people look at this endeavor and say it is crazy and too much money. I look at it this way: most if not all of our living spaces (houses, group homes, retirement homes, apartments) are created by other people, generally people with money, who do this to make money. I want to change that thought and make the residence be put in charge of the designing and own the complex.
If my math is correct, lets assume that we have 200 units, like in condos building. That would be about 300 people in the complex to include couples and families. Let’s take a figure of $200,000per each unit, which would be impossibly cheap in this market. 200 X 200,000= $40m. That’s $40 million dollars. I think we can build a complex for this or less. If you go to a mortgage calculator for $40m at 3.74% at 30years that comes out to $185,019 per month. Divide by 200 residents you get about $925 per unit. Even though this is a rough estimate and there are other costs, if we could build this complex and the basic rent is less that’s $1000, that leaves us lots of wriggle room to come up with funds for services and food.
If my math is correct, lets assume that we have 200 units, like in condos building. That would be about 300 people in the complex to include couples and families. Let’s take a figure of $200,000per each unit, which would be impossibly cheap in this market. 200 X 200,000= $40m. That’s $40 million dollars. I think we can build a complex for this or less. If you go to a mortgage calculator for $40m at 3.74% at 30years that comes out to $185,019 per month. Divide by 200 residents you get about $925 per unit. Even though this is a rough estimate and there are other costs, if we could build this complex and the basic rent is less that’s $1000, that leaves us lots of wriggle room to come up with funds for services and food.
LAND AND BUILDING COST
LAND AND BUILDING COST
If you go to:
If you go to:
You can see the tax values of all the properties in this area. In my experience the value is less than the real value, but it gives you the idea of what things are worth. I need to know how much would it cost to build our complex??? Land needs to be zoned for multi use to allow for businesses and lets in SW Snohomish county.
You can see the tax values of all the properties in this area. In my experience the value is less than the real value, but it gives you the idea of what things are worth. I need to know how much would it cost to build our complex??? Land needs to be zoned for multi use to allow for businesses and lets in SW Snohomish county.
Here are some complexes and land that I have identified from this website and newspapers articles:
Here are some complexes and land that I have identified from this website and newspapers articles:
Vacant land 21204 LOCUST WAY , LYNNWOOD, W 2.88 acres $4,962,400.00
Vacant land 21204 LOCUST WAY , LYNNWOOD, W 2.88 acres $4,962,400.00
Public Storage 4600 196TH ST SW , LYNNWOOD, WA 3.94 acres $11,269,000.00
Public Storage 4600 196TH ST SW , LYNNWOOD, WA 3.94 acres $11,269,000.00
Triton Court " 19925 68TH AVE W , LYNNWOOD, WA 1.3 acres $27,120,600
Triton Court " 19925 68TH AVE W , LYNNWOOD, WA 1.3 acres $27,120,600
Cedar Creek Memory Care 21006 72ND AVE W , EDMONDS, WA 98026" 1.16 ares $8,800,000.00
Cedar Creek Memory Care 21006 72ND AVE W , EDMONDS, WA 98026" 1.16 ares $8,800,000.00
166 Hotel / Motel 201+ Units 20610 44TH AVE W , LYNNWOOD, WA 98036-7701 4.54 acres $35,375,000.00
166 Hotel / Motel 201+ Units 20610 44TH AVE W , LYNNWOOD, WA 98036-7701 4.54 acres $35,375,000.00
Park 210 " 7301 210TH ST SW , EDMONDS, WA 98026-7266" 2.86 acres $13,860,000.00
Park 210 " 7301 210TH ST SW , EDMONDS, WA 98026-7266" 2.86 acres $13,860,000.00
GOLDE CREEK PLAZA II LLC/BIG BOX Staples 3011 196TH ST SW , LYNNWOOD, WA 98036-6925 4.59 acres $4,395,600.00
GOLDE CREEK PLAZA II LLC/BIG BOX Staples 3011 196TH ST SW , LYNNWOOD, WA 98036-6925 4.59 acres $4,395,600.00
TO DO: I would like somebody to work on this and come up with update figures and what is available.
TO DO: I would like somebody to work on this and come up with update figures and what is available.
Challenge:
Challenge:
1. I want to ask everybody to think how this complex would work and benefit them. I have found over the years that when you visualize something it makes it easier to make it happen.
1. I want to ask everybody to think how this complex would work and benefit them. I have found over the years that when you visualize something it makes it easier to make it happen.
2. Think about how would a group home work in this kind of complex!
2. Think about how would a group home work in this kind of complex!
That’s about it for now If you have any questions, don’t hesitate to ask.
That’s about it for now If you have any questions, don’t hesitate to ask.
Denis McFadden
Denis McFadden
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