All Forum Posts by: Devin James

@Devin James ok now you got me "thought vomiting" here but just hang with me a moment cause maybe there will be something. 

Can you do underground parking? 

I know, big expense right. But, if doing small row-style townhome clusters, call it 4 and 6 unit clusters. "What if" did groupings of these clusters in horse-shoe, so 3 4/6 plexs with walk-out to shared central courtyard. 

Under which is underground parking. 

And in underground parking is mechanical's. Because now we eliminated the foot-print of autos. Thus increasing density ratio. And via the clustering we are utilizing green-space in a communal manner thus reducing foot-print of that BUT retaining such perception as each unit has walkout to what seems a BIG green space. By moving mechanicals out of unit we now have reduced that impact to foot-print. 

Use of Euro-style wall units for air-con.. 

End units are the "premium" units of course. 

I wonder if the change of density could off-set cost of underground enough to make it make sense.... 

I'd like to understand @Devin James, from the domestic developer mind of things; 

If there stands a confusion, lack of comprehension on how to address housing compilation in a given region, city, MSA etc., why not look to Europe? 

I mean, it's simple math, right. 

Many European cities have existed far-far longer than the USA has even existed. When Columbus sailed, there cities were old and had long addressed housing issues generations before. 

So why not look to Europe and say "Huh, how'd they deal with this"? 

Austria, Germany, Luxembourg; these immediately come to mind as "ancient" developed areas in contrast to the "infant" that is USA, and they seem to be doing very well, very efficient, very well setup and established across the strata's. 

We have data to look back to for direction on our path forward, do we not? 

Quote from @Devin James:

Quote from @Dennis Bragg:

Quote from @Devin James:

Quote from @Dennis Bragg:

Quote from @Devin James:

Quote from @Dennis Bragg:

Hey @Devin James

Your thoughts on affordability and density resonate with me. I’ve seen developers in Phoenix transform underused lots into thriving micro-communitie. One developer I worked with built smaller homes around a central courtyard, and buyers appreciated the balance of affordability and community.

In San Diego, where I’m based, density has taken a different shape...like ADUs (Accessory Dwelling Units) that maximize land value. I read something recently in The Economist about how smaller units increase land efficiency.

Have you explored micro-communities or shared amenity setups in Orlando? I’m curious how those resonate with buyers there.

My first home here in Orlando had an ADU. Great use of space and provides additional income to offset the monthly payment.

Orlando, and many other cities, have a "missing middle" problem in regards to housing. 

Municipalities either want Class A multifamily, or 2000+ sqft homes on .25 acre lots. 

There's a huge demand for Townhomes, Duplexes, Triplexes, Quads, and smaller multi's.

I love cities who can implement those micro communities. I can see the vision but they are not yet put to use here in Orlando.

It's great to hear your first home had an ADU...those are game-changrs for both space efficiency and offsetting costs. You're spot-on about the "missing middle." I've seen this issue in San Diego, where a friend of mine worked with a city planner to rezone a lot for duplexes and triplexes. They framed it as a way to provide workforce housing, and the project not only sold out but became a model for similar developments.

I read a piece in Forbes recently about how smaller multi-units are reshaping urban housing. In Omaha, smaller multi-unit builds with shared amenities like co-working spaces are cacthing on. People appreciate the balance of affordability and livability.

What’s been the biggest hurdle for Orlando in pushing these types of projects forward? Zoning issues? Or are developrs hesitant to take the leap?

Love to hear it!

Mostly zoning issues. 

Specifically for us, we focus on the outskirts of Orlando. Many of our developments are turning unprofitable citrus groves into SFH's.

I do think there's a trend towards BTR (Horizontal Apartments). Here's a project we sold to Taylor Morrison that will have this new type of housing. Super cool apartment style living, but all one story.

Repurposing citrus groves into SFHs is a smart move...turning underused land into vibrannt communities. I’m also a big fan BTR developments, especially horizontal apartments. They offer renters a unique option that feels like home but without the long-term commitment.

A developer friend of mine in San Diego recently completed a BTR project on a former industrial site. I saw a report in Forbes about how BTR developments are shaping suburban rental markets. The concept of single-story units with private patios caught on quickly, especially among young families and empty nesters.

Do you think these horizontal apartments in Orlando could help bridge the gap for middle-income renters? Or are they more likely to appeal to renters in the higher-income bracket?

100%!!

Im a huge fan of them

I think both - they will bridge the gap with middle-income renters and also appeal to the higher-income bracket. As you said, younger crowd & empty nesters

So you’re talking apartment units and condos.  There is nothing new there.  

Plus building in the middle of an old orange grove isn’t the way I would go if I was wanting to address that economic group.  I would knock down an old building structure in or off downtown.  Closer to entertainment district, services and mass transit.  

Someone mentioned Omaha above.  They knocked down the warehouse district near downtown and built condos.  Big entertainment area.  Just north of town 10 blocks they built about 100 mini houses about 300 square feet.  Waving normal setbacks.   Target low income and transient groups.  

 About 30 blocks west of downtown they did the Blackstone district.  Basically gentrified an old neighborhood.  

I would look at your target and identify what they want besides just the living unit.  

There have been a lot of posts about failing syndications.  Most of the ones failing have been due to lack of appropriate financing or inappropriate product mix.  I would check your market analysis.  

Quote from @Joe S.:

I'm guessing that Devin and Dennis are on the developer side of things...... :-)

Quote from @Devin James:

Affordability is one of the biggest challenges in today’s housing market.

I believe smaller, more dense units are part of the solution:

1) Buyers can only afford smaller homes in today’s economy.

2) Denser units maximize the land available, increasing housing supply to help offset demand and ultimately bring costs down overall.

It’s not just about building more, it’s also about building smarter.

What are your thoughts?

 Do you personally live in a smaller house with a postage stamp sized lot????

Quote from @Devin James:

Quote from @Dennis Bragg:

Quote from @Devin James:

Quote from @Dennis Bragg:

Hey @Devin James

Your thoughts on affordability and density resonate with me. I’ve seen developers in Phoenix transform underused lots into thriving micro-communitie. One developer I worked with built smaller homes around a central courtyard, and buyers appreciated the balance of affordability and community.

In San Diego, where I’m based, density has taken a different shape...like ADUs (Accessory Dwelling Units) that maximize land value. I read something recently in The Economist about how smaller units increase land efficiency.

Have you explored micro-communities or shared amenity setups in Orlando? I’m curious how those resonate with buyers there.

My first home here in Orlando had an ADU. Great use of space and provides additional income to offset the monthly payment.

Orlando, and many other cities, have a "missing middle" problem in regards to housing. 

Municipalities either want Class A multifamily, or 2000+ sqft homes on .25 acre lots. 

There's a huge demand for Townhomes, Duplexes, Triplexes, Quads, and smaller multi's.

I love cities who can implement those micro communities. I can see the vision but they are not yet put to use here in Orlando.

It's great to hear your first home had an ADU...those are game-changrs for both space efficiency and offsetting costs. You're spot-on about the "missing middle." I've seen this issue in San Diego, where a friend of mine worked with a city planner to rezone a lot for duplexes and triplexes. They framed it as a way to provide workforce housing, and the project not only sold out but became a model for similar developments.

I read a piece in Forbes recently about how smaller multi-units are reshaping urban housing. In Omaha, smaller multi-unit builds with shared amenities like co-working spaces are cacthing on. People appreciate the balance of affordability and livability.

What’s been the biggest hurdle for Orlando in pushing these types of projects forward? Zoning issues? Or are developrs hesitant to take the leap?

Love to hear it!

Mostly zoning issues. 

Specifically for us, we focus on the outskirts of Orlando. Many of our developments are turning unprofitable citrus groves into SFH's.

I do think there's a trend towards BTR (Horizontal Apartments). Here's a project we sold to Taylor Morrison that will have this new type of housing. Super cool apartment style living, but all one story.

Repurposing citrus groves into SFHs is a smart move...turning underused land into vibrannt communities. I’m also a big fan BTR developments, especially horizontal apartments. They offer renters a unique option that feels like home but without the long-term commitment.

A developer friend of mine in San Diego recently completed a BTR project on a former industrial site. I saw a report in Forbes about how BTR developments are shaping suburban rental markets. The concept of single-story units with private patios caught on quickly, especially among young families and empty nesters.

Do you think these horizontal apartments in Orlando could help bridge the gap for middle-income renters? Or are they more likely to appeal to renters in the higher-income bracket?

Quote from @Devin James:

Quote from @Dennis Bragg:

Hey @Devin James

Your thoughts on affordability and density resonate with me. I’ve seen developers in Phoenix transform underused lots into thriving micro-communitie. One developer I worked with built smaller homes around a central courtyard, and buyers appreciated the balance of affordability and community.

In San Diego, where I’m based, density has taken a different shape...like ADUs (Accessory Dwelling Units) that maximize land value. I read something recently in The Economist about how smaller units increase land efficiency.

Have you explored micro-communities or shared amenity setups in Orlando? I’m curious how those resonate with buyers there.

My first home here in Orlando had an ADU. Great use of space and provides additional income to offset the monthly payment.

Orlando, and many other cities, have a "missing middle" problem in regards to housing. 

Municipalities either want Class A multifamily, or 2000+ sqft homes on .25 acre lots. 

There's a huge demand for Townhomes, Duplexes, Triplexes, Quads, and smaller multi's.

I love cities who can implement those micro communities. I can see the vision but they are not yet put to use here in Orlando.

It's great to hear your first home had an ADU...those are game-changrs for both space efficiency and offsetting costs. You're spot-on about the "missing middle." I've seen this issue in San Diego, where a friend of mine worked with a city planner to rezone a lot for duplexes and triplexes. They framed it as a way to provide workforce housing, and the project not only sold out but became a model for similar developments.

I read a piece in Forbes recently about how smaller multi-units are reshaping urban housing. In Omaha, smaller multi-unit builds with shared amenities like co-working spaces are cacthing on. People appreciate the balance of affordability and livability.

What’s been the biggest hurdle for Orlando in pushing these types of projects forward? Zoning issues? Or are developrs hesitant to take the leap?

Hey @Devin James

Your thoughts on affordability and density resonate with me. I’ve seen developers in Phoenix transform underused lots into thriving micro-communitie. One developer I worked with built smaller homes around a central courtyard, and buyers appreciated the balance of affordability and community.

In San Diego, where I’m based, density has taken a different shape...like ADUs (Accessory Dwelling Units) that maximize land value. I read something recently in The Economist about how smaller units increase land efficiency.

Have you explored micro-communities or shared amenity setups in Orlando? I’m curious how those resonate with buyers there.

I'm in the same boat. After 16 years in my career (RE broker) and 13 years as an investor, I'm at the equity growth stage as well. 

I shifted from investing with a cash flow focus to the appreciation and tax benefits side of things. C class areas/properties to A class areas/properties. I always make sure that the properties are cash flow positive, but the large bulk of the money I make from them is from the other items (appreciation, debt paydown, tax benefits, etc). 

It seems to be a pretty natural evolution for many investors. When you don't have any money/equity (early in career and/or early in your investing journey) the tax benefits are pretty minor. But, once you do build some wealth and have a high income, you realize how much you can save/make by owning the right real estate - numbers that far exceed any cash flow you might make on a property. 

I feel like theres more opportunity in equity growth, but I personally am in the Median income area - I like to see a little cash flow and have good tenants. Also, if anything were to go wrong I wouldnt have the capital available to pay extra on a property every month.