Property Description

The property has undergone full site preparation, including clearing, filling, and compaction. Upon completion, the development will feature infrastructure common to residential subdivisions, such as asphalt-paved streets, curbing, gutters, and underground utilities, all accessible to each lot. The site is zoned for a variety of uses, including multifamily, single-family residential and Mix use. Public utilities, including water, sewer, and electricity, are already in place and ready to service the site.Future land use and rezoning possibilities include C-N, C-R, R-P, P-S, and PUD. The subject site currently consists of 5.00-acre parcel, which is planned to be developed with 40 townhome lots (8.00 DU/AC), which will be approximately 25 to 30 front feet in size. The site has been cleared, filled, and compacted; for the purposes of our analysis, we assume that the lots will be in finished condition (i.e., cleared, leveled, stubbed for utilities, interior roads complete, etc.), as of the prospective upon completion date of this report. The proposed townhomes will reportedly average 2,500 SF, with end-unit base pricing averaging $500,000; the development will provide amenities including a pool, cabana/clubhouse and park