Townhome Development Approval!!!

[Devin James]

On Monday, we presented our 253-unit townhome Planned Unit Development (PUD) to the City Commission and received a favorable 4/5 vote!

We believe that to solve the ongoing challenges surrounding affordable housing, we need more units - supply & demand.

Looking ahead, we have another reading scheduled in August to allow for 135 single-family homes.

We're diligently preparing these lots, anticipating a market rebound.

Navigating through this unusual market has been tough, but I am confident that the experience and perseverance will pay dividends in the long run. 💪📈

[Bryant Brislin]

That's awesome!

[Simmy Ahluwalia]

Congrats!  No small feat.  Locked up financing yet?

[Devin James]

Quote from @Simmy Ahluwalia:

Congrats!  No small feat.  Locked up financing yet?

Thank you!!

Not yet, looking to attain permits & start horizontal development in Q1 2025. 

We're weighing our financing options now.

[Simmy Ahluwalia]

@Devin James - just shot you an email to connect.

[Mary Smith]

That's amazing, congratulations @Devin James!

[Devin James]

Quote from @Mary Smith:

That's amazing, congratulations @Devin James!

Thank you Mary!!

[Jamie Hora]

Very nice, congrats!

[Devin James]

Thanks Jamie Hora!!

[Eric Nelson]

Nice work doing what you can to provide housing!!

Who do you talk to about setting up a PUD?

I’m thinking about  building storage units that I could sell and charge an association fee. 
I’m not finding a lot of good info out there about it.

Thanks!

[Devin James]

Quote from @Eric Nelson:

Nice work doing what you can to provide housing!!

Who do you talk to about setting up a PUD?

I’m thinking about  building storage units that I could sell and charge an association fee. 
I’m not finding a lot of good info out there about it.

Thanks!

 Hey @Eric Nelson,

I suggest setting up a meeting with your Municipalities planning and zoning department. They will be able to guide you in the right direction and tell you if your project is feasible or not.

From there, we hire outside consultants to take the plan through the approval process. Its a difficult and costly process, but usually lead to high returns if done correctly.

Im in Central FL, so this is from my experience. It may change state to state.

I recommend joining your local ULI group (Urban Land Institute). Go to some events, you will be able to find people to guide you throughout the process.

[Jordan Ray]

Quote from @Devin James:

On Monday, we presented our 253-unit townhome Planned Unit Development (PUD) to the City Commission and received a favorable 4/5 vote!

We believe that to solve the ongoing challenges surrounding affordable housing, we need more units - supply & demand.

Looking ahead, we have another reading scheduled in August to allow for 135 single-family homes.

We're diligently preparing these lots, anticipating a market rebound.

Navigating through this unusual market has been tough, but I am confident that the experience and perseverance will pay dividends in the long run. 💪📈

 Congrats @Devin James! What is the status of this project? Do you have potential land development/construction teams in place?

[Zach Rothman]

Congrats! By the sounds of things the idea here is to sell them off. Will the community be allowing STR?

[Devin James]

Quote from @Zach Rothman:

Congrats! By the sounds of things the idea here is to sell them off. Will the community be allowing STR?

Good question, i'm not sure how the HOA will manage STR.

The Villages is building a new community center & hospital 4 miles away, so there may be a market for it.