New Construction cost/logistics

[Paul Passafiume]

Ok, here's the deal. Louisville is still a red hot real estate market especially in the urban core but we've gotten to the point here the best neighborhoods have been gentrified and all the old housing stock has mostly flipped. Louisville took a bit longer because it has such a dense pre 1930 housing stock.

I just bought a couple infill lots and want to develop them. Anyone built multifamily from the ground up? What is the cost in your area for a "Home Depot" grade renovation?

And my main question..how do you go about it? I have a good GC but I worry there's lots of risk and would need to purchase "Builder's Insurance." Can that be bought for a small property like a duplex? Could I, for example, purchase a policy on a duplex I plan to build for like 150k? How much would Builder's Insurance be in general and who sells it?

Folks in Nashville, Denver, and Austin may be of most help here. Louisville is starting to see a nice uptick in infill in what few lots are left in good neighborhoods (Strict preservation city so not many tear downs allowed).  Also, if you are interested in any opportunity here, I am your guy. Besides the fact that our state isn't as sexy, Louisville has all the potential to be the next Nashville or Austin, just more historic and gritty.

[Shawn M.]

@Paul Passafiume

You are asking a bunch of questions that can be only answered by talking to a licensed architect and the Building Dept. No offense but lots of GC’s and brokers don’t really understand building codes.

By me all new construction >3family homes need sprinklers, plus 1-2hr fire separation between units, gets costly.