Warehouse to Apartment Conversion
Hello,
I am in the early stages of trying to figure out of if this deal is something I should pursue. The property is 65,000 sq ft and in a great location but has been on the market for 3 years now. What I am looking to do is to covert it to strictly apartments or possibly mixed use. Mixed use being apartments and a few store fronts. Is there anyone that has done this before? I know you need more details to offer advice, so please feel free to message me. Otherwise, any tips on how to get started would be very much appreciated. I do know I need to go to the town and ask for a variance/change of zoning. I also will need to raise around $1.5 to $2M to purchase and rehab it.
In case you are wondering, the property is in Connecticut in the New Britain, Newington, CCSU area.
Thanks in advance!