You are talking condo conversion i.e. converting existing rowhouses on one title to several ?
or are you talking re-development i.e. tearing down a house and building 3-4 THs ?
Your question is rather vague.
I have done several condo conversions.
Share some more specific details please so I or others can help you.
or are you talking re-development i.e. tearing down a house and building 3-4 THs ?
Your question is rather vague.
I have done several condo conversions.
Share some more specific details please so I or others can help you.
[quote user=ThomasBeyer]or are you talking re-development i.e. tearing down a house and building 3-4 THs ?
Sorry about that.....the family is planning to demolish adjoining old residential properties and build 9-10 townhouses. They got ball park figures of whole construction costs from developers/builders doing projects in the area. But, the family members are overwhelmed with the idea and not really sure how to proceed. By the way, the properties are situated in a hot market in Toronto. Any suggestions or comments are very much appreciated. Thanks.
Sorry about that.....the family is planning to demolish adjoining old residential properties and build 9-10 townhouses. They got ball park figures of whole construction costs from developers/builders doing projects in the area. But, the family members are overwhelmed with the idea and not really sure how to proceed. By the way, the properties are situated in a hot market in Toronto. Any suggestions or comments are very much appreciated. Thanks.
[quote user=TonyMandrique]But, the family members are overwhelmed with the idea and not really sure how to proceed.
Might it be better to sell the parcel as a ready development site to an experienced developer/builder? You may be able to negotiate taking some of the purchase price in kind (ie. as a townhouse) if they'd prefer that.
Regards,
Michael
Might it be better to sell the parcel as a ready development site to an experienced developer/builder? You may be able to negotiate taking some of the purchase price in kind (ie. as a townhouse) if they'd prefer that.
Regards,
Michael
[quote user=bizaro86]Might it be better to sell the parcel as a ready development site to an experienced developer/builder? You may be able to negotiate taking some of the purchase price in kind (ie. as a townhouse) if they'd prefer that.
They are considering these options. They will meet the developers/builders in the next few days and may decide.
Thanks Thomas and Michael for your feedback.
They are considering these options. They will meet the developers/builders in the next few days and may decide.
Thanks Thomas and Michael for your feedback.
This
Good post Michael
If I have a lot that works great for a convenience store I'm not operating a convenience store on it. I'm not in that business. Sell it to someone that is.
[quote user=bizaro86][quote user=TonyMandrique]But, the family members are overwhelmed with the idea and not really sure how to proceed.
Might it be better to sell the parcel as a ready development site to an experienced developer/builder? You may be able to negotiate taking some of the purchase price in kind (ie. as a townhouse) if they'd prefer that.
Regards,
Michael
Good post Michael
If I have a lot that works great for a convenience store I'm not operating a convenience store on it. I'm not in that business. Sell it to someone that is.
[quote user=bizaro86][quote user=TonyMandrique]But, the family members are overwhelmed with the idea and not really sure how to proceed.
Might it be better to sell the parcel as a ready development site to an experienced developer/builder? You may be able to negotiate taking some of the purchase price in kind (ie. as a townhouse) if they'd prefer that.
Regards,
Michael