Horizontal Construction Lending- Subdivision

[Alex V.]

I have a subdivision in Maryland that I’ve been developing for the past year. Should be permitted to install road and SWM infrastructure by summer 2025. Wondering who does horizontal lending on something like that?

I could complete the main road in phases, build 2-3 at a time (could do more really as we have 15 right now actively being built but realistically not sure how fast it’ll sell. I’d think it would sell reasonably quickly given where it is located. 

I also have this same question about a Multifamily deal we have where we will need to purchase land before approvals.. you’d think being in this as deep as we are we’d know this answer but, it’s actually proven to be a pretty difficult thing for me to come across even with speaking to several people in the industry.. my own mother is 32 year lender. Not kidding. Without permits your pretty much up the creek and have to fund with your own cash. It’s been that way on several of our deals for years. And in fact, we are just sitting and holding onto lots until they are able to be fully permitted already as is. And in some counties , it can take 4 or 5 years for a simple single-family home as is the case on these waterfronts in Annapolis. I would be elated to find a lender that was going to work with us.