Developing a beachfront multiplex

2 Replies

Hi BP world! 

How would I go about developing a 30 unit apartment complex? What are the first steps? 

I found a location. Do I now work with an architect for a schematic design?

Any guidance would be appreciated 

Antonio 

Since you have the site picked out, I'm going to assume you are already clear on the zoning for that site and are able to built that type of project there. The other assumption will be that you have a proforma developed for the project and an idea of where funding is coming from. Lastly Ill assume you have the land under control in one way or another and that other due diligence has occurred regarding environmental, title, etc.

The next step for you is going to be find a local architect to put together a feasibility study to confirm you can get what you want out of the site this often happens prior to purchasing the site so if you are in the middle of some of the things above that's not too uncommon, you just want to have it under control in one way or another so that you don't have the site bought from under you while you are doing this. 

Once you have an agreed upon feasibility study and have brought them onto the project team, the architect can submit all jurisdictional pre-applications for permits and move into schematic design. From there they will be working on the design and development of the units, common spaces, site, etc. You will at this point want to bring on the other consultants such as structural, civil, geotech, MEP, landscape, and the rest to get their parts of the project started. Your architect should have coordination of those consultants in their contract. 

Then its just design development, permits, and the full CD package. Also somewhere after feasibility but prior to permits you will want to have a contractor on board so that the architect can work with them to develop details they are more efficient with and reduce questions down the road. 

Where is this beachfront property located?

Hopefully that helps, there's a lot of moving parts but these things get built pretty regularly.

David,

Thank you so much for the informative and detailed response. I have only located the land and have not taken any other steps. It’s really a long shot but not impossible. It is beachfront property in Long Beach NY.  It’s a lot that currently has 7 attached triplexes. They are pretty run down and due to flood requirements will have to be knocked down or raised. Only 3 of the 7 are listed for sale. You cannot do anything with just the three triplexes and the owner of these knows that. It’s been on the market for some time. I’ve had various conversations with the listing agent and there are talks of all owners selling but still only the 3 are listed. I would like to begin conversations with all owners (4 different owners). Sounds like a stretch huh?