All Forum Posts by: Jerry Mason

Rates on what I’m presently working on, and it has been consistent for the last 5 years in DFW, is $1.00 per sq ft of livable space. 

Current project is 38 mil, all in. About 350,000 sq ft, 3 story, no elevators, 267 units, garden style, 6 buildings (club, office and amenities area is 1/3 of the lower floor of the first building), onsite detention pond of 1/2 acre, 8 acre site, 1 decel lane added. 

I am a superintendent in Dallas and have built new apartments for over 35 years. Right now apartments are averaging between $120,000 and $165,000 a door in DFW. This includes land, all utilities, permitting, bonds, architect, engineers, construction and such for a class A property. 

I did a project in Houston a few years ago for $52,000 a door. It was a section 8, low income property. No landscape other than planted grass, no amenity area, no storm utilities (the property sheet drained to a ditch), no appliances, super low end fixtures, no perimeter fence, 8’ ceilings, all siding, no masonry facade and the city gave the property to the developer and waived impact fees. That is the cheapest property I personally have ever seen built.