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Updated almost 10 years ago on . Most recent reply
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Where to start - waterfront mixed use development
I have located land that has been used until this point as industrial and in my opinion is at the end of its life cycle. I would like to rezone for a mixed use development. All of the properties would total approximately 60 acres of land.
The city would allow for the rezoning.
To keep it short - and perhaps to short my question to those of you who have done development like this is where should I start?
Thanks in advance for your advice!
Most Popular Reply
I'm starting the research on a similar project but only 20 acres. I've talked with the city and they are on board which was my first step too. I also am quietly figuring out the price that each parcel's owner would be willing to sell at. I checked with the state on set back requirements from the waterline. Next is an architect for a rough sketch with square footage, entrances, parking space requirements, etc. From there, it's rough cost estimates from our contractor. Then using market research for leases, we finally get the answer to see if it's in the realm of feasible. If it's close then back to contractor for a more detailed cost estimate. Then to the bank with the entire plan and start quietly buying the parcels.