Rental Property Investor · Atlanta, GA · Member since 2019 · 84 posts · 56 votes
I have a development idea for a large commercial property about not far outside of the city of Detroit.
It is a “special purpose” property and I would like to know who I need to speak to that can influence this idea of mine. Do I need to attend public meetings to interface with people? I’m sure that I need an architect and developer. to help design this community that I want to add value to. I know that I have to contact the commercial realtor that it’s posted under, but what can I do to start to learn of this concept would even work.
I can get the property and land purchased. I don’t know who to speak to to pitch the concept.
Hi, Simone. A couple of things come to my mind about your situation.
(1) I have a good developer contact in that area who deals with large properties such as what you're speaking of. I'm happy to connect you.
(2) An architect is a good idea, however, to ensure you're goal can be met and identify what's needed for zoning compliance, check the local zoning department.
(3) I recommend having an NDA/NCND between you and ALL parties you conduct business with regarding investing. Have it reviewed by a RE attorney from the respective state that NCND applies to. This will ensure you're legally compliant regarding contracting and RE law. I use Legal Shield and have had wonderful success with them.
Hi! Thanks so much for replying. I’m trying to figure out who? Like specific roles or titles of people? It’s zoned for special purpose in a single family residential area, but it’s an old business building that has been abandoned for about 5 years.
I don’t know if it’s possible to rezone the area for commercial/ residential mixed use.
There are probably several ways to do this, but if this were mine, I'd start with a local "talented" Architect (that I get along with) as team member number one, and re-asses the needs after that (so I have flexibility vs a rigid plan of how to make it happen).
Hi! Thank you for your advice! I was thinking that an architect is the right start. When you say “that you get along with”.... have you had an experience where this architect hindered your efforts.
I will need to raise money for the entire project. The property is about $150k and over 50k sq ft. I want to actually keep the structure and develop on and around it.
Do you know about how much I should expect to spend on an architectural consult? Do I have them sign a NDA to prevent them from sharing my idea?
I was taken advantage of once and shared some information about a property to ask questions because I had a great deal and they went and bought and built on it. Didn’t include me or even pay me a finders fee. I still have salt on my tongue behind it and want to prevent this from happening again.
Hi, Simone. A couple of things come to my mind about your situation.
(1) I have a good developer contact in that area who deals with large properties such as what you're speaking of. I'm happy to connect you.
(2) An architect is a good idea, however, to ensure you're goal can be met and identify what's needed for zoning compliance, check the local zoning department.
(3) I recommend having an NDA/NCND between you and ALL parties you conduct business with regarding investing. Have it reviewed by a RE attorney from the respective state that NCND applies to. This will ensure you're legally compliant regarding contracting and RE law. I use Legal Shield and have had wonderful success with them.
Hi, Simone. A couple of things come to my mind about your situation.
(1) I have a good developer contact in that area who deals with large properties such as what you're speaking of. I'm happy to connect you.
(2) An architect is a good idea, however, to ensure you're goal can be met and identify what's needed for zoning compliance, check the local zoning department.
(3) I recommend having an NDA/NCND between you and ALL parties you conduct business with regarding investing. Have it reviewed by a RE attorney from the respective state that NCND applies to. This will ensure you're legally compliant regarding contracting and RE law. I use Legal Shield and have had wonderful success with them.
Thank you so much for this great advice. I would definitely welcome and appreciate speaking with someone who has experience. I will also delve into the zoning division and thank you for this link. I will also get a NDA/NCND drafted immediately. I really appreciate you taking the time to respond to me.
Honestly, you need to do a feasibility study, or pay for one, to see if you even have a viable, money making idea for the area before you do anything else.
I'm assuming you are an investor, and the point of investing isn't just to do things, it's to do things that have calculated chance at giving you a target return.
Thank you for your advice. This is exactly what I need, a feasibility study. I need to find out who exactly to speak to in order to ensure that this is a profitable venture. Have you done one before and if so, how did you go about it?
@Simone Johnson With regard to a PUD (Planned Urban Development), most communities have one, two, or possibly two tools to guide you. They are the zoning code, community development plan, or possibly both. The community development plan identifies how a community would like to see their community change with respect to zoning. If there is not one, then the zoning code identifies the procedures for changing the zoning. That being said, it is not a given it can or will be changed.
The local Director of Community Development (typically within the zoning or planning department) should have a good sense of what the Zoning and/or community board/council is seeking, and if they are amenable to a change. 50,000 sf is just larger than an acre. Without seeing the survey or the area, my experience suggest the only way to get both commercial and residential would be a mixed use condo/apartment structure (first floor retail, upper floors residential).
When going through the PUD process, the community assesses not only the concept, but also the development team to determine the likelihood of success. The team is typically the Developer, Architect and Contractor. In addition, a strong attorney who is familiar with PUD's is also important as the PUD will specifically state the program outlined in your submission package.
Our experience has varied from 60 days for an incredibly short PUD process with a zoning meeting and council meeting (where the use was approved but required updating) to 9 months and submissions to Architectural Review Committee, Zoning Committee, Plan Commission, and City Council. Being able to assemble a complete and thorough package to address all the requirements is critical. The zoning code should outline the requirements.
Simone, I couldn't agree more the recommendations above. I have some Metro Detroit relationships and would be happy to try and connect you with some local architects, developers and contractors to help you with your project. If you are interested, please feel free to reach out.
@Simone Johnson With regard to a PUD (Planned Urban Development), most communities have one, two, or possibly two tools to guide you. They are the zoning code, community development plan, or possibly both. The community development plan identifies how a community would like to see their community change with respect to zoning. If there is not one, then the zoning code identifies the procedures for changing the zoning. That being said, it is not a given it can or will be changed.
The local Director of Community Development (typically within the zoning or planning department) should have a good sense of what the Zoning and/or community board/council is seeking, and if they are amenable to a change. 50,000 sf is just larger than an acre. Without seeing the survey or the area, my experience suggest the only way to get both commercial and residential would be a mixed use condo/apartment structure (first floor retail, upper floors residential).
When going through the PUD process, the community assesses not only the concept, but also the development team to determine the likelihood of success. The team is typically the Developer, Architect and Contractor. In addition, a strong attorney who is familiar with PUD's is also important as the PUD will specifically state the program outlined in your submission package.
Our experience has varied from 60 days for an incredibly short PUD process with a zoning meeting and council meeting (where the use was approved but required updating) to 9 months and submissions to Architectural Review Committee, Zoning Committee, Plan Commission, and City Council. Being able to assemble a complete and thorough package to address all the requirements is critical. The zoning code should outline the requirements.
I don't really know where to start to thank you for this. I am SO grateful for this insight. This is exactly what I needed. I now have a foundation as to who I need to seek out and what to do. I really appreciate you taking the time out to spell this out for me, you have no idea.
Simone, I couldn't agree more the recommendations above. I have some Metro Detroit relationships and would be happy to try and connect you with some local architects, developers and contractors to help you with your project. If you are interested, please feel free to reach out.
Daniel Stys
Thank you. I'm so fortunate to have received such great recommendations and I welcome your assistance.