Saving $50k and months of holding cost
Hi Everyone,
Hope everyone is enjoying this Friday, I want to share a recent experience regarding sprinkler systems/permits in Philadelphia and how they are required on 3 units or more, also including converting a duplex into a triplex, quad, etc.
We're currently working on a project converting a triplex to a quad in Philly that we originally believe we would have to add a sprinkler system to the property. However, after some research and a little back and forth with the architect we were able to find out that Philadelphia has some exemptions for sprinkler systems/permits. Fortunately for this project, it fell within those exemptions ultimately saving approx. $50K for material/installation along with months of holding cost that will no longer have to wait for permits to be issued.
Of course, this will not happen for every project but it's just a little reminder to make sure you and your team do their due diligence. It can turn a good deal into a great deal!
Have a good weekend,
Dan