A Blank Slate In An Upswing Area...suggestions?
We are about to take our first step towards commercial development in our home town. We are in an area that has been rural but is undergoing tremendous growth. Approx. 1400 - 2000 homes will be going in golf course/gated communities within the next couple of years. Commercial development will be limited to two 2-laned highways. Currently, there are old Florida motels, small used car lots, and feed stores. We have begun negotiations on a 5 acre piece that has southbound frontage on the highway. The owners have been significant land holders for many generations and are very particular about what will go on this property. We proposed a commercial center with offices upfront and bays in the back for the small contractors that will be supporting the residential building going on. The landowners were not won over by this usage. Regardless of what is put in, they want a concrete wall constructed to block the commercial from their residential area. Since this is a prime piece of real estate, we intend to propose several options to them. Any input? Professional offices? What will be the highest demands in an area such as this? Since there is absolutely nothing out there yet, we have the potential to be the first to capitalize on this expanding area. By the way, there is talk of a strip mall going in...the landowners wouldn't want this anyway on their property. Zoning will have to be changed from agricultural to commercial so usage is wide open. We intend to develop the property, hold onto it for 7-10yrs and then sell. Any help anyone could give us would be greatly appreciated. Thank you.
How is the property being used now? Have you asked the current owners what they would like to see? I would also speak with the "founding fathers" to get a sense of what the municipality would like to see. Rezoning from agricultural to commercial is a big leap, and I think you're going to need the endorsement of the municipality.
Nancy,
Thank you for your reply. The current usage is a few cattle...otherwise it is cleared, vacant land. The owners definitely do not want a strip mall with multiple unknown tenants(this is going in south of their property). They somewhat indicated that they might like to see professional offices, other than that they are open to options that we put forth. We are in touch with our county officials. There is commercial zoning all around this property so everyone knows the re-zoning will go through (although there are sure to be some battles). The owners are also concerned about the future after we sell. They live right by the property and so they want some assurances as to what will be in their front yard. Any further suggestions or help you could give would be greatly appreciated.
blamcat,
If the municipality (or county, as the case may be) has adopted a master or comprehensive plan, it would be useful, I think, to waltz through it to see what uses are being recommended for this property/area. The comp plan may also give you some clues as to the municipality's projections regarding specific land uses (residential and non-residential) as well as population and future needs.
You indicate that this property is surrounded by commercial zoning. If you haven't already done so, I would go through the zoning ordinance to see the permitted uses surrounding this property.
It's not unusual for zoning ordinances to require buffering (landscaping, additional setbacks) where a commercial district or use abuts residential. Check this out in the ordinance and perhaps provide for buffering in your purchase offer. A landscaped buffer would be more attractive, I think, than a wall. In any event, it sounds as if this is a "land bank" situation, as it may take some time for the area to evolve commercially.
Nancy