Historic Commercial Venues and Condo Conversions

[Dan Logsdon]

We're considering investing in a 3 story historic building in Texas, in an up and coming downtown.  Currently the building is gutted but has great bones.  We have an architect who's helped us draw up plans for converting the first floor into a commercial space and the 2nd/3rd floors into 5 apartments/condos all about 2,000 soft in size.   This is my business partner and I's first time with mixed use and condos.  Hoping to get some help in these areas:

1.) Guidance from more senior real estate professionals on condo conversions

2.) Converting a commercial space to a mixed use venue (weddings, meetings, celebrations, etc).  Who's done this before?  What are the best practices for making this successful?

3.) Guidance on performing due diligence with a complex property

Looking forward to hearing from you all