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Updated about 3 years ago,
Townhouse Development
I originally joined BP to learn how to make my property more attractive to potential buyers/developers and in a Pygmalion like twist, I am now contemplating developing it myself.
The city has turned surprisingly builder friendly, the land is paid for, I will have a large cash reserve to pay for some of the upfront soft costs. This should make the land more attractive to lenders when it comes time to borrow the big bucks. In theory it shouldn't be too difficult to build, the land is flat, new housing development next door, utilities are at the road (yup, I know it's expensive to drag it out). Big demand for rentals.
Negatives, I am a newbie, it's in western WA, so it won't be cheap or easy (even with the city's change), all the issues that come with new construction, which is exasperated by the size of the project.
Would like any thoughts or ideas, all criticism is happily welcomed.
Some questions, I am getting a bid done for some site work and I have talked to a architect/GC. I will continue to talk to all manners of people in the business, but is there anyone I should be really seeking out, other then other builders to get their prospective? I have talked to some very friendly and helpful city workers.
Sorry for the long post, but if it matters: zoned mixed use/townhouse, when it was zoned sfr could get 60+ lots. The land is located in one of the fastest growing cities for the state.