Posted by Steve (TX) on September 24, 2004 at 07:18:58:
Has anyone here tried the huge task of first finding a peice of undeveloped land and turned it into a duplex neighborhood?
The reason I ask is that I see ample opportunity in my area for such a project. There are several pieces of land currently owned by churches that have sat for years with no development. In the past I would often drive by these parcels and say to myself that the land would be great for a little retial strip, or Walgreens, or something similar. A few years later, BOOM!, up goes a retail strip, a Walgreens, etc. The are in question IMO is still growing they have now broke ground for a Walmart Supercenter and HEB (large grocery chain) in the area. About 2-4 miles from there are large parcels of land belonging to churches. I’m thinking that one or more of these would be perfect for a duplex neighborhood, but I have no knowledge of where to begin on such a huge undertaking.
There is a relatively new (~5 years old) duplex neighborhood located about 5 miles in the other direction, and I drove around there the other day to look at occupancy. From what I saw, out of the probably 100+ units, only 4-5 had ‘For Sale’ or ‘For Lease’ signs.