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Building town homes and have a few ??? if theres any builders on here.

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24/7canes

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Me and business partner are about to get into some good money and looking to invest into something. Im looking at a piece of property near down town Orlando that has great rental prices and everything goes super quick. Its near Bumby and michigan ave area if you know Orlando.

So 1 question is what kind of saving can you get per sq feet if we build 20 to 30units, possibly 40 if we can fit them on the prpoerty. . Im thinking 2 pads or possible break it up into 4 pads.

Also wondering how hard is it to get the zoning changed if its not zoned for town houses. For the record there is a few small apartment type complexes real close by but they are very old.

Last though I have right now is there a place you can look up plans. Im not trying to build some mack daddy town houses but obviously I need some kind of plans to go off.

Thanks for any help fellas.
 
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Bumby and Michigan? You shouldbe buildingin the 352 South Lake or the Mt.Dora Eustis area where the last extension of the 429 is finishing up.
 
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24/7canes said:
Me and business partner are about to get into some good money and looking to invest into something. Im looking at a piece of property near down town Orlando that has great rental prices and everything goes super quick. Its near Bumby and michigan ave area if you know Orlando.

So 1 question is what kind of saving can you get per sq feet if we build 20 to 30units, possibly 40 if we can fit them on the prpoerty. . Im thinking 2 pads or possible break it up into 4 pads.

Also wondering how hard is it to get the zoning changed if its not zoned for town houses. For the record there is a few small apartment type complexes real close by but they are very old.

Last though I have right now is there a place you can look up plans. Im not trying to build some mack daddy town houses but obviously I need some kind of plans to go off.

Thanks for any help fellas.
Click to expand...

That's by Boone high school. Finding an local Architect shouldn't to difficult, but it sounds like you're new to real estate development, if so doing a project in that area could be expensive. It's like your trying to capitalize on the spill over from SODO.

Go Canes
 
24/7canes said:
Me and business partner are about to get into some good money and looking to invest into something. Im looking at a piece of property near down town Orlando that has great rental prices and everything goes super quick. Its near Bumby and michigan ave area if you know Orlando.

So 1 question is what kind of saving can you get per sq feet if we build 20 to 30units, possibly 40 if we can fit them on the prpoerty. . Im thinking 2 pads or possible break it up into 4 pads.

Also wondering how hard is it to get the zoning changed if its not zoned for town houses. For the record there is a few small apartment type complexes real close by but they are very old.

Last though I have right now is there a place you can look up plans. Im not trying to build some mack daddy town houses but obviously I need some kind of plans to go off.

Thanks for any help fellas.
Click to expand...
Look at the zoning ordinance and the comprehensive plan The comprehensive plan is the blueprint of what the city envisions in the area. The zoning will tell you what it’s zoned for now.

If there are other similar high density units right there, that will help you in getting a re-zoning if needed. If the comprehensive plan calls for higher density uses, adding residential to the area... etc... that will help.

Go to the Development review office for the city or whatever it is called in Orlando. You will want to talk to someone in planning and zoning. They may or may not give you accurate advice. Sometimes they may be against something but the Board of Supervisors - or whoever hears these things there - may be supportive of the economic activity if it fits within some parameters.

You can talk to a locally connected civil engineer and/or land planner and ask them what your chances are for approval. If you are buying the property, potentially give a deposit which becomes a non-refundable deposit after a certain amount of days of due diligence - maybe 90 days. Then do not close on the balance due until you have record plat for a certain number of units. You set this all up in the contract. Base your price to the landowner on a per unit approved basis and give yourself an opt out if you can’t get a certain minimum number approved where it is no longer feasible for you to continue.

Good luck man. It’s exciting stuff. Make sure you have a handle on your expected sales pace and your timelines for site development and construction along with a handle on all ordinary and any extraordinary development costs like sewer connection fees as ordinary and hitting rock as extraordinary. Make sure your engineer and land planner know if there are fee assessments for schools - and development limits due to overcrowded schools. They will let you know how much density you can get. You will lose density for setbacks, topography, green space requirements, impervious issues. - you need an expert there.
 
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Paranos said:
That's by Boone high school. Finding an local Architect shouldn't to difficult, but it sounds like you're new to real estate development, if so doing a project in that area could be expensive. It's like your trying to capitalize on the spill over from SODO.

Go Canes
Click to expand...
That’s more of an extension of the new Hourglass District than SODO IMO. Decent area if you want to be close the popular areas but not in it (Thornton Park, Hourglass, SODO, Milk District, Mills50), plus you’re near the Conway chain of lakes if you’re into that.
 
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Paranos said:
That's by Boone high school. Finding an local Architect shouldn't to difficult, but it sounds like you're new to real estate development, if so doing a project in that area could be expensive. It's like your trying to capitalize on the spill over from SODO.

Go Canes
Click to expand...
He needs a civil engineer and a land planner. He should go to the zoning department and see which engineering firms submit lots of plans and have a good reputation. They may not say outright but it’s learnable information to see who submits plans in the area for review.
 
RVA Cane said:
Look at the zoning ordinance and the comprehensive plan The comprehensive plan is the blueprint of what the city envisions in the area. The zoning will tell you what it’s zoned for now.

If there are other similar high density units right there, that will help you in getting a re-zoning if needed. If the comprehensive plan calls for higher density uses, adding residential to the area... etc... that will help.

Go to the Development review office for the city or whatever it is called in Orlando. You will want to talk to someone in planning and zoning. They may or may not give you accurate advice. Sometimes they may be against something but the Board of Supervisors - or whoever hears these things there - may be supportive of the economic activity if it fits within some parameters.

You can talk to a locally connected civil engineer and/or land planner and ask them what your chances are for approval. If you are buying the property, potentially give a deposit which becomes a non-refundable deposit after a certain amount of days of due diligence - maybe 90 days. Then do not close on the balance due until you have record plat for a certain number of units. You set this all up in the contract. Base your price to the landowner on a per unit approved basis and give yourself an opt out if you can’t get a certain minimum number approved where it is no longer feasible for you to continue.

Good luck man. It’s exciting stuff. Make sure you have a handle on your expected sales pace and your timelines for site development and construction along with a handle on all ordinary and any extraordinary development costs like sewer connection fees as ordinary and hitting rock as extraordinary. Make sure your engineer and land planner know if there are fee assessments for schools - and development limits due to overcrowded schools. They will let you know how much density you can get. You will lose density for setbacks, topography, green space requirements, impervious issues. - you need an expert there.
Click to expand...
RVA pretty much laid it out. You can go on to the Orange County Property Appraiser website and look up the address(es) and it will tell you the current zoning. If you’re looking to change the zoning, as RVA said, you can reach out to City Planning (there on the 6th floor of City Hall I believe) and you can have discussions with them about what you want to do. They will usually give you some opinions on certain things you need to do to make it feasible.
 
RVA Cane said:
Look at the zoning ordinance and the comprehensive plan The comprehensive plan is the blueprint of what the city envisions in the area. The zoning will tell you what it’s zoned for now.

If there are other similar high density units right there, that will help you in getting a re-zoning if needed. If the comprehensive plan calls for higher density uses, adding residential to the area... etc... that will help.

Go to the Development review office for the city or whatever it is called in Orlando. You will want to talk to someone in planning and zoning. They may or may not give you accurate advice. Sometimes they may be against something but the Board of Supervisors - or whoever hears these things there - may be supportive of the economic activity if it fits within some parameters.

You can talk to a locally connected civil engineer and/or land planner and ask them what your chances are for approval. If you are buying the property, potentially give a deposit which becomes a non-refundable deposit after a certain amount of days of due diligence - maybe 90 days. Then do not close on the balance due until you have record plat for a certain number of units. You set this all up in the contract. Base your price to the landowner on a per unit approved basis and give yourself an opt out if you can’t get a certain minimum number approved where it is no longer feasible for you to continue.

Good luck man. It’s exciting stuff. Make sure you have a handle on your expected sales pace and your timelines for site development and construction along with a handle on all ordinary and any extraordinary development costs like sewer connection fees as ordinary and hitting rock as extraordinary. Make sure your engineer and land planner know if there are fee assessments for schools - and development limits due to overcrowded schools. They will let you know how much density you can get. You will lose density for setbacks, topography, green space requirements, impervious issues. - you need an expert there.
Click to expand...

I’ve never asked what kind of law you practice. Is it safe to assume it’s real estate.
 
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24/7canes said:
Me and business partner are about to get into some good money and looking to invest into something. Im looking at a piece of property near down town Orlando that has great rental prices and everything goes super quick. Its near Bumby and michigan ave area if you know Orlando.

So 1 question is what kind of saving can you get per sq feet if we build 20 to 30units, possibly 40 if we can fit them on the prpoerty. . Im thinking 2 pads or possible break it up into 4 pads.

Also wondering how hard is it to get the zoning changed if its not zoned for town houses. For the record there is a few small apartment type complexes real close by but they are very old.

Last though I have right now is there a place you can look up plans. Im not trying to build some mack daddy town houses but obviously I need some kind of plans to go off.

Thanks for any help fellas.
Click to expand...

I grew up in orlando. Thats a great area!
 
OriginalCanesCanesCanes said:
I’ve never asked what kind of law you practice. Is it safe to assume it’s real estate.
Click to expand...
I don’t practice anymore but when I did it was zoning and development many many many years ago... and real estate. On top of it I worked on the business side of acquisitions, development and home building. I grew up in the business as well.
 
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RVA Cane said:
He needs a civil engineer and a land planner. He should go to the zoning department and see which engineering firms submit lots of plans and have a good reputation. They may not say outright but it’s learnable information to see who submits plans in the area for review.
Click to expand...
Land planner 100%. The land planner hires the others necessary to have all the due diligence info ready during the period before the co0ntract to buy goes hard. With no prior experience and if you're asking this site and don't have an experienced real estate attorney guiding you on the contract...well sort of like buying a bar cause you like to drink....
 
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RVA Cane said:
I don’t practice anymore but I when I did it was zoning and development many many many years ago... and real estate. On top of it I worked on the business side of acquisitions, development and home building. I grew up in the business as well.
Click to expand...

There’s a lot of money to be made, if the timing is good and the prices are right.

But I am no expert on real estate, other than some money in REITs, which takes no expertise. And of course buying and selling homes I and relatives have lived in.

In these guys situation, wouldn’t it make sense for them to retain some kind of a real estate lawyer to help them navigate the system, which must be complex for a neophyte.
 
mainecane said:
Land planner 100%. The land planner hires the others necessary to have all the due diligence info ready during the period before the co0ntract to buy goes hard. With no prior experience and if you're asking this site and don't have an experienced real estate attorney guiding you on the contract...well sort of like buying a bar cause you like to drink....
Click to expand...
This was my first concern.
 
OriginalCanesCanesCanes said:
There’s a lot of money to be made, if the timing is good and the prices are right.

But I am no expert on real estate, other than some money in REITs, which takes no expertise. And of course buying and selling homes I and relatives have lived in.

In these guys situation, wouldn’t it make sense for them to retain some kind of a real estate lawyer to help them navigate the system, which must be complex for a neophyte.
Click to expand...
They want a land use planning and zoning lawyer but they may want to start with a civil Engineer and a Land Planner - possibly at the same firm. They’re going to need to know what kind of density they can get on the site and have it laid out. The planner and engineer can do a lot. They can get the lawyer potentially to apply for rezoning and take it through the approvals process. A good land planner and civil engineer will know who to recommend for that, as needed.

The engineer will work with the city review people and you want their recommendation to the Board at the hearing so get one who is connected.
 
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