All Forum Posts by: Julie Nealey

I would love to pick your brain on underground parking costs and if now with interest rates the way they are, are apartment developers even looking for deals? Or is it best to assume highest and best use with townhomes? Just trying to know how to hit the market in this economy. 

Yes, I have a meeting with the city tomorrow to discuss timelines and I believe that will more than likely dictate how I proceed. I am bringing my real estate agent with me to the meeting so we are all on the same page. 

Silly question, when you say "sell permitted lot" to a developer, are you saying full site plan entitlements? Or ????

I would love to speak with you. Please contact me and we speak in further detail.

Good afternoon Sherief,

I wanted to provide you with an update, since you showed some interest in the land previously. I had a meeting with the City of Mill Creek Senior Planner this morning. They are re-zoning my land to high density residential. This is what I have been trying to do all along. I am thrilled and will obviously be putting it back on the market with the new zoning, or partnering with an investor. Many new possibilities. 

Yes, there is a lot of opportunity here. I had a meeting with the Senior Planner this morning and they have agreed to provide an amendment to zoning to allow high density residential instead of the 50/50 split. This is obviously a very positive change, as the challenge to find a full mixed use developer for the 50/50 ratio was a challenge. This eliminates this altogether and the location and demographics of the area are fantastic for a full residential development with many doors and underground parking. 

I own almost 3 acres of Mixed Use land in a great location, great traffic counts and in a more affluent suburb north of Seattle. It is a required 50/50split or 100% commercial? What would you build given the split? Would you subdivide? There is a 40' height restriction. Townhomes are fairly obvious, apartments, go all commercial? I think assisted living, senior living would be fantastic. Trying to figure out the best move forward, sell or develop, partner etc? Would love some ideas.

I am trying to find developers interested in land that I own or to partner in some capacity to develop mixed use. It is far easier to sell the residential portion of my land to multifamily developers than the commercial portion as most developers I know do not do both. I am thinking assisted living, daycares, senior living etc that encompasses both would be the best route.

How would you structure a partnership if you have the land (site plan etc), have an individual with experience, but need to find a capital partner for a fairly large MIxed Use/Multi Family development. What would the best structure be?

 Thank you so much. This does help.

Can someone explain the benefits/negatives of off market selling land?