Development Marquette County

[Cory Howes]

Investment Info:

Other other investment in Negaunee.

Development project. 40 acres within the City of Negaunee. Looking for investors to partner: Endless opportunities. Large and small multi-family potential, townhomes, condos, single family, or modular homes are all possibilities. Excellent location!

What made you interested in investing in this type of deal?

I work as a forester and walk through vacant property to assess timber value.
This is a 40 acre parcel located within the Negaunee City Limits. The parcel is beautiful, close to Marquette, in a rapidly growing area. Endless opportunities for projects across this 40 acre parcel!

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Private lender

How did you add value to the deal?

Looking to create a PUD (Planning Unit Development) in order to have the possibility to build large or small multi family units. Currently undergoing Phase 1 which will be a subdivision of ~30 parcels. Phase 2 we hope to build large multi-family. Phase 3 will potentially include cabin rentals, next to the Iron Ore Heritage Trail. Ideal for mountain biking and snowmobiling.

What was the outcome?

In progress! Hoping to find partners to help get multiple projects going at once.

Lessons learned? Challenges?

Development is much more complex than what I thought, but everything is figureoutable!