New Construction Road, Sewer and Electric
I'm looking at a set of lots for a new development project. Most that I have considered already have road, sewer and electric ready and the lot has been cleared. The more I have looked, the more opportunities I find - each with their own unique set of hurdles I have not faced. I'm wondering if anyone has a general cost guideline for my specific situation.
The lots I'm looking at have a road up to them on the west, and after the lots I'm eligible to purchase there is one small lot (50ft wide) that doesn't have road, then it returns to the road again on the east. The road basically just doesn't continue on this city block.
The lots for sale: 1 lot at 50 feet wide by 120 deep. The other lot for sale used to be 3 lots, but is now 1 (with the purchase plan on this to become 3 different lots) at 150 feet wide by 120 deep.
I'm curious on what everyone's costs are on extending the road sewer and electric to these 4 lots. Costs specific to the state of Virginia are also appreciated.
Has anyone experienced something like this? What other hurdles have you had to overcome in the new construction world?
Most Popular Reply
@Pat D.
ULI has a great book around development. It’s actually a text book. But it gives you a great working knowledge of development and the process to follow.