Opinions on Development

[Chase Gochnauer]

Hello,

There is a 41 acre piece(34 residential, remainder commercial) next to my home that was going to become townhomes. My area is all nicer acreage style lots. I purchased it from the developer and am making 1/2 - 1 acre lots with a few townhomes. Below is the final concept I've come up with. The detention on the west will be a nicer pond with fountain. My property is adjacent to the east. The north side is a commercial lot that I'll worry about later.

Any opinions on the layout before I pull the trigger?

[Scott Choppin]

@Chase Gochnauer

Looks good generally.

A few opinions/questions:

1. Watch the narrow/deep lots, not the best configuration for building homes.

2. Are the SFH lots correctly sized given competition in the marketplace, are your lots coherent with buyers of the lots (either builders or homeowners)?

3. Who exactly is your market, mostly builders, or sell to homeowners?

4. Can you sell the whole package at once to a builder? Best option, map the property, sell the whole thing, don't build anything.

5. Is there demand for the TH lots? Can you keep those lots, sell everything else, then build and rent the TH's for long term rental income?

6. Sounds like you already closed, do you have any Army Corps issues that came up in your due diligence, i.e. blue line streams? 

7. Any environmental/ecological issues? Wetlands? Rare birds, bees, lizards, nesting spotted white tipped owls?

8. From the topo, looks like you'll have a lot of mass grading, have you costed out the grading and does it pencil with what you can sell the lots for? Have you penciled infrastructure, same thing, does the cost work inside your financial feasibility model?

~ Scott