Build storage units or build housing?

[Nathan Kapp]

Hi All,

Question for you.  We currently have 6 acres that we’d like to develop in Lancaster PA.  It’s zoned mixed usage, and we are approved to build housing units on the land.  We can get 26 units on currently.  Our other desire was to build storage units; however, when we approached one township official for a variance, he said he didn’t “ like the idea” of storage units.  So, what’s my next step?  I’m meeting with a developer next week.  Do I approach the township again about storage units or just do the development housing?  

Thanks,

Nate

[Tyler Rasmussen]

I always lean towards investing in the things that people have to have. In this situation, people always need a place to live, but they don't necessarily need storage units. One idea would be that you could build houses with detached garages and if the tenants don't want to pay extra for the garage, you could rent those out to people who aren't tenants.