Consolidating muliple parcels into single development

[Dave M.]

In my neighborhood, there is substantial demand for adjoining parcels that are consolidated to re-purpose for either single or multi family redevelopment. Is there anyone who has a suggestion for valuing adjoining properties?

My situation is this. I own one property. How should I value the acquisition of the first adjacent property? The second?

Also, since there are two independent sellers, how should I build this into my plan?

[Steve K]

Originally posted by Karen M.:

Ed O. Example: We bought a lot where a previous home had burned down. When we went to the building department to pull our building permit, we asked if they would give us a credit from the previous building permit that had been paid, you might try for any other development fees and see what they say (utilities, etc.). They did. We have done this other times in the past too. Most people don't think to ask for the credit, therefore; don't get it. I'm not sure if every area works like that, but we've done it in California in a few places.

Same drill in Florida. Once impact fees are paid they usually are paid forever. There are instances in historic districts where you have to leave one wall of an old structure standing to get credit for the impact fees. Nice savings as impact fees can easily be over 10k for a basic 2,000 sf house.