My first Multi-Family New Construction Project

[Lamar Washington]

Hello BP Community, I'm under contract on a 2 acre lot of residential land on the West side of Jacksonville, FL. 

We are currently in the early stages of the land entitlement process, and I would love to get some feedback before we commit our capital to entitling the land and getting it re-zoned.

The contract has the following terms: 90 day due diligence period, 6 month close, and the Escrow amount of 10% of the purchase price goes hard after the 90 day due diligence period. I've run the numbers on the 2 acre lot as a ground up Development project for a 40 Multi-Family Apartment Complex spread across 5 buildings, all 2Bd/1Ba units. 

I'm willing to share the ballpark numbers that I used for both the pro-forma and Construction costs with anyone who is interested in taking a look.

Also, I have a couple of questions:

1.) Does anyone have any experience with multi-family New Construction or know any Developers who have completed similar projects in the past?

2.) What is the best way to find and get in contact with local Multi-Family Developers in the area?