I've got an interesting situation and would appreciate some input. There is a 2.5 acre vacant lot in a prime location just down the road from where I live. It's zoned R-2 and the local Planning and Zoning said they would allow up to a duplex to be built. I could split the lot into 3 and build 3 duplexes. Refinancing each one upon completion to build the next. I have a good contractor that can build. It's a great price but it's been on the MLS for almost 2 years. I've done some digging and found that 90% of the lot is on Wetlands. It's out of the flood plane and there are beautiful homes on both sides.
Is there a way to convert the wetlands (basically just a wooded foresty area) into build-able lots? Has anybody done this before that's familiar with the process? I see the big builders like Meritage and Taylor morrison clearing larger areas for their subdivisions so I know it's possible.
i dont know now how fanatical your county is but, i have seen folks put through the ringer on properties with FAR less wetland area than 90 percent. A friend has 5 acres in Martin co with .22 acres of it considered wetland, so far...2 years 4 months trying to get permission to build one house! Wetland studies, impact zones, remediation, engineering... expensive! and he is about to give up, which is what the county wants, so approach with caution and get something from them in writing before you buy
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