New Multi-family Development

General Real Estate Investing
1

Anyone know of a good website where they talk about new RE development, and how to get one’s feet in the door? Here is my situation …

I located an area that is, IMO, a prime location for a multi-family neighborhood. A few years ago, the area was nothing but farm land. In those few years, a couple of SFR housing subdivisions have pooped up, along with a few retail businesses. There is still a lot of farm land in the area, and I feel a neighborhood of duplexes/4-plexes (maybe even an apartment complex or two) would be perfect - especially since the area is still in it’s “growing” stages, and there are -0- multifamily neighborhoods around. The problem, though, is I don’t have a clue where to start. I figure the first thing would to inquire at the county’s zoning office to see if any parcels qualify. Next would be to talk to landowners who may or may not have their land for sale. After that, I’m lost. Thanks!

2

Stephen,

I would suggest starting with the zoning map and zoning ordinance. These documents will tell you how the area is broken up into different zoning districts and the uses permitted in each. If the areas you’re considering are not currently zoned to permit multi-family, then also look at the comprehensive or master plan (if any) to see what land uses the municipal/county folks would like to see. You should also check out utility mapping (public water & sewer) for the areas in question, as higher density development would likely require public v. on-lot water and sewer. All of these resources should be available at the municipal office or county office, if it’s the county who regulates land use and development in your state.

Nancy