[CAGeoNerd]

Originally Posted by Son of Travis

Side note - the West Sacramento project (with dbrds) was approved and is ready for building permit, thus ending my participation as my new group seeks our own projects.

To pull the building permit, the City fees total nearly $1.5 MILLION.

As many of you know, Building Permit fees are often based on construction budget, which for this project is about $8 million. So... this means building fees (Doesn't include affordable housing fees or plan check fees or any other misc fees. This is the fee total presented by the City when the Building Permit was ready to issue.) represent just short of an ASTONISHING 19% of our construction costs!


And you wonder why housing is so expensive in California?

By contrast, we're about to close on a site in Reno. Same kind of thing, renovating an abandoned warehouse into 23 lofts/apartments (vs 40 in West Sacramento).

Our estimated fees? $19,000... all-in. $19 freaking thousand! And when I'm up there I can't help but notice that their roads seem to be well-maintained, schools seem to be fine, water and air not polluted...

But $19,000 vs $1,500,000... Jesus.

Where do you think the capital markets will invest?

That is unbelievable, how is there so much disparity and why hasn't this been talked about as a HUGE issue in all of this discussion of the housing crisis in our state?