Converting Industrial Warehouse into 44 rental units

[Hunter Schenk]

Hello,

I am checking to see if anyone on here has gone through a similar project.

We are closing an a 40,000sqft 3 story industrial building in a couple days. It is located in a Medium sized tourist town in Missouri. The purchase price is very low, because it is currently an emty industrial building zoned single family, so it cannot be used as designed. We have spoken to the city and they are wanting the building to be comverted to multifamily because of lack of affordable homes. (Most homes have been turned into str) The zoning should be changed by the end of the month.

Our plans is to build 34 2/1s, 5 2/2s and 5 1/1 loft style apartments. We are still getting bids on pricing. The building is big and open, and has plenty of parking.

There will pretty much be a hallway going down each floor with apartments on each side. Large windows will need to be added on each unit as well.

We are looking to connect with someone who has experience here with large conversions.

[Nathan M kiefer]

Quote from @Hunter Schenk:

Hello,

I am checking to see if anyone on here has gone through a similar project.

We are closing an a 40,000sqft 3 story industrial building in a couple days. It is located in a Medium sized tourist town in Missouri. The purchase price is very low, because it is currently an emty industrial building zoned single family, so it cannot be used as designed. We have spoken to the city and they are wanting the building to be comverted to multifamily because of lack of affordable homes. (Most homes have been turned into str) The zoning should be changed by the end of the month.

Our plans is to build 34 2/1s, 5 2/2s and 5 1/1 loft style apartments. We are still getting bids on pricing. The building is big and open, and has plenty of parking.

There will pretty much be a hallway going down each floor with apartments on each side. Large windows will need to be added on each unit as well.

We are looking to connect with someone who has experience here with large conversions.

 We did a large building called the globe in grand rapids Michigan. Was a huge success and we literally had people moving in as we were punching out. 

if location is good you should be sitting on a gold mine. I would squeeze a few 3 beds in there though