lot owners working with builder jointly for development
I have some lots on Lake Padre on North Padre Island that have had the land already developed, bulkhead, utilities, roads in place a five minute boat ride to Gulf of Mexico. The lots are about 300 x 50 on average and it does not make sense to develop individually but that was the way they were sold . Several adjacent lot owners and I think we should work together and offer as a group for a builder. Is that something that is done very often in the industry? Several of us think if the small lots get finished by individual builders it will just look less appealing and not provide full potential of the lots.
Does anyone have experiences with this type of situation they can share?