Professional Documents
Culture Documents
Apartment
Developer
2010
OROT Project
Submitted to:
Professor Lakshmikanthan
By:
Table of Contents
Table of Figures ............................................................................................................................................. 2
Apartment developer.................................................................................................................................... 3
1.1 Problem Description ........................................................................................................................... 3
1.2 Findings of Market Study .................................................................................................................... 3
1.3 Portfolio Constraints ........................................................................................................................... 3
1.4 Local law constraints ........................................................................................................................... 4
1.5 Additional information........................................................................................................................ 4
1.6 Formulation of the model ................................................................................................................... 4
1.7 Objective Function .............................................................................................................................. 4
1.8 Constraints .......................................................................................................................................... 4
1.9 Additional Precautionary Constraints ................................................................................................. 5
1.10 Using Excel Solver to obtain the optimum solution.......................................................................... 5
Table of Figures
Figure 1 - Solver Constraints ......................................................................................................................... 6
Figure 2: Excel Conditions with solution ....................................................................................................... 7
Apartment Developer
Page 2
Apartment developer
1.1 Problem Description
Pragati real estate developer is planning a new apartment complex. Three types of units can be built: onebedroom apartments, two-bedroom apartments, and three-bedroom apartments.
Each one-bedroom apartment requires 600 square feet; each two-bedroom apartment requires 800 square
feet; and each three-bedroom apartment requires 1,200 square feet.
The developer has already agreed to lease 13 one-bedroom units and 21 two-bedroom units to a local
rental agency that is a silent partner in this endeavor.
The developer wants to maximize the rent collection from his apartment.
Page 3
1.8 Constraints
Floors<=8 (N), Apartment to Floor Ratio<=12 (O) ... (7)
(TS) <= 67000 .. (8)
Apartment Developer
Page 4
Apartment Developer
Page 5
Apartment Developer
Page 6
Apartment Developer
Page 7