All Forum Posts by: Charles Keener Jr,

A re-zone can be a difficult process in Denver, and is very lot specific as @James Carlson eluded too. If a re-zone is possible, the document preparation is fairly straight-forward, but you do risk losing soft costs if the project gets denied for any number of reasons. In addition, developing a multi-family product will require additional entitlement outside of the normal building permit process. You may be required to dedicate right-of-way, improve the street frontage, install hydrants, etc. Due diligence is essential for development in the metro area. Best of luck,

Floodzone AE is a nuanced issue. A property can carry a floodzone AE designation even if the floodplain slightly clips the property corner and has zero impact on existing structures. Insurance is a federal mandate, and flood insurance rates can vary depending on the level on inundation a property could incur during a flooding event. For example, if the structures MLOE (minimum lowest opening elevation) is higher the the known flooding depth, the property owner can prepare a FEMA "Elevation Certificate". This document can be presented to your insurance carrier to help reduce flood insurance rates.

There are larger risks with floodzone AE investments if the property is planned to be developed in the future.