New Construction Mixed Use Ideas

[Jason Leach]

I own a lot in a downtown area in Lafayette CO and would like to build.  The lot is 46.5' by 150' with 20' and 10' set backs (which can be shortened according to the city planners I spoke with).  Zoned mixed use and sandwiched between a BBQ restaurant and an old historic home built in 1900 converted to commercial property which I also own.  That building cannot be torn down.  I have a long term tenant (retail vintage store) and a 1 bedroom apartment attached at the rear of the building.  My thoughts are to construct a building with 2 commercial spaces on the first floor (front and back) with 2 living spaces on the 2nd floor.  I thought of creating a condominium association for the 2 living spaces and selling those and keeping the 2 commercial spaces.  The other thought is to keep the 2 living spaces as rental apartments.  There a lot smarter people on this forum than me, so I would love some feedback to this idea.