All Forum Posts by: Robert Ellis

 you need to talk to 10 lenders before you make any decisions. you won't be qualified for ground up construction without the experience. there's no such thing as sweat equity for general contracting. if you've never built a home how can you do it? 

 yes what questions do you have? I build it like any other home there's nothing special except for some of the extras we add in for functionality. we sell our inventory though. 

interested in chatting about development, ground up construction, zoning and upzoning in city of miami. 

 I've got a million posts about it. if you have specific questions I can help with let me know. you can't really compare cost per sq ft without a construction set and finish schedule as a general contractor. But we contract with our margin sub $190 per SF right now all hard costs. 2 points 12% for investors. that's in Columbus Ohio for single family and multifamily ground up new construction 85% LTC

 best way to invest in multifamily is to build it in columbus urban core where new construction trades at 30% higher than existing multifamily and build it at a discount. 

Are you considering investing in real estate in Columbus, Ohio? Are you tired of looking at 50 year old or 100 year old multifamily with unfunctional design and overpriced? Tired of Columbus Ohio agents adding no value? We want to provide you with essential information about the costs associated with the Council Variance Application process for rezoning residential lots to construct a triplex ground up in Columbus OH urban core neighborhoods.

The City of Columbus is modernizing its zoning code for the first time in more than 70 years, calling it "Zone In."

A primary goal of Zone In is the provision of more housing options in more places. One way to impact housing affordability is increased supply. The current housing shortage means greater competition for fewer units, which drives up costs. The updated code addresses this in a number of ways. Whereas 80% of the current zoning along the corridors restricts residential development, each of the proposed districts allow a full range of residential uses by right.

Proposed districts also allow for taller buildings and market-driven parking solutions, both of which allow for more housing units. Housing capacity analysis undertaken by the Zone In consultant team found that the proposed changes have the potential to provide 88,000 additional units along key corridors over the next ten years. This is a dramatic increase over the potential additional units that could be expected with the existing zoning.Importantly, the proposed code also includes a height bonus allowing between two and four additional stories in four of the mixed-use districts. Eligible projects must participate in and meet the affordability requirements of the City’s Community Reinvestment Area program.

Where does this design come in? This is considered a micro designed apartment. There is no true definition of Micro housing but the target is market rate apartments with affordability, design, and density in mind which is our focus.

Micro Housing Design and Compact Living: Impact on Affordability

Lower Construction Costs:

Economies of Scale: Building micro-units can reduce per-unit construction costs due to smaller unit sizes and efficient use of materials .
Efficient Land Use: Compact designs maximize the use of available land, often resulting in higher density developments that spread land costs over more units .

Reduced Rent and Sale Prices:

Smaller Unit Sizes: Micro units, typically between 250-400 square feet, naturally command lower rents or sale prices compared to larger units, making them more affordable for renters and buyers .
Market Demand: There's a growing market demand for smaller, more affordable units in urban areas, leading to more competitive pricing for micro housing compared to traditional apartments .
Operational Savings:

Lower Utility Costs: Micro housing units generally have lower utility costs due to smaller spaces that require less energy to heat, cool, and light .
Maintenance and Upkeep: Smaller units mean less area to maintain, resulting in lower maintenance costs for both landlords and tenants .
Increased Supply:

Higher Density: Micro housing developments can increase the number of available housing units in a given area, helping to alleviate housing shortages and stabilize or reduce market prices .
Urban Infill Projects: These projects can efficiently utilize underused urban spaces, contributing to a higher overall housing supply in desirable locations without expanding urban sprawl .

We handle the entire process from start to finish from land acquisition, development and entitlement, floorplan design (already done for you), density, zoning meetings, contractor negotiations and construction, disposition or long term lease, financing negotiations, etc.

The typical numbers in our market right now (no guarantees, depends on lot size, lot location, finish levels that you select, etc):

Land: $50,000

Entitlements and rezoning from single family lot: $5500

Permits and build fees: $5000

Hard cost construction of 2004 square ft stacked triplex: $350,000

After repaired value: $550,000

Traditionally ground up multifamily three story walk up style apartments has only been available to developers due to the economies of scale, but we've designed a triplex which solves all of the above problem. Most of our investors are securing financing around 85% Loan to cost and 75% loan to value. We have more than 10 lenders we can recommend to consider depending on your experience, liquidity, credit score, etc. The majority are national lenders with experience in ground up construction and exit strategies as well so they are not only financing the construction but also facilitating the exit as the units are delivered and available for lease up.

Please reach out if you are considering new construction as an investment strategy.

Rob Ellis

Pink Development and Construction

614-400-8762

[email protected]

We are in rezoning for a 162 unit micro unit 20 story development in columbus OH and looking for partners:

Some press (outdated with recent revisions but gets the message across):

https://columbusunderground.com/11-story-building-proposed-f...

Site Data

Site Area: 0.0977 acres
Disturbed Area: 0.0947 acres
Pre-Developed Impervious Area: 0 acres
Post Developed Impervious Area: 0.0947 acres Zoning: Pending CPD Zoning Approval
Current Certified Address: 278 S Glenwood Ave Tax Parcel Number: 010-018394
Area Commission: Franklinton Area Commission

Building Data:

Total Gross Floor: 79980 SF
Total Dwelling Units: 162 units (3 Retail Spaces In Addition)
Density: 1620 Units / Acre
Floor Area Ratio: 85,066 Building Sq Ft / 4257 Site Area = 19.98

Height District: H-60 (Existing), H-200 Proposed

Max Building Height: 199’ 11” (By Pending CPD Zoning)

Parking and loading Required:
162 DWELLING UNITS x 1.5 SPACES/UNIT = 243 SPACES 3,400 SF RESTAURANT (1 SPACE/75 SF) = 46 SPACES 1,900 SF RETAIL (1 SPACE/250 SF) = 8 SPACES Total is 297 spaces required
ADA SPACES provided: 0 SPACES
Minimum Loading Spaces: None Required

Total Spaces Required: 1 SPACES REQUIRED

Parking Provided:
REDUCTION TO 0

BICYCLE PARKING PROVIDED: 0 BIKE RACKS

REFUSE CALCULATIONS/NOTES: 0.5 CY PER DWELLING UNIT REQUIRED, each unit will be provided with a 25 Gallon Trash Can which will be collected at the door each evening if they set it out and part of the Valet and hospitality contract. Same with Recycling during assigned evenings and the bins cleaned weekly. This is Via a private hauling contract.

TREES PROVIDED: 6 rooftop and 2 in the public right of way, 8 total with additional planters and natural elements throughout the rooftop areas and first floor.

Micro housing is a smart economic solution for urban living. Our 162-unit micro housing project in Columbus, Ohio, showcases significant economic advantages, as highlighted by the Urban Land Institute (ULI) report.

Economic Advantages of Micro Housing

Higher Rent Per Square Foot

Micro units command higher rent per square foot compared to traditional apartments. Despite smaller size, tenants pay more per square foot for prime locations and amenities. This increased revenue potential is key. The ULI report shows this trend across high-demand urban areas​ (Urban Land Institute)​​ (Archinect)​.

Higher Occupancy Rates

Micro housing developments often have higher occupancy rates than traditional apartments. Affordability and urban locations attract a wide range of residents. High demand for affordable, well-located housing ensures robust occupancy rates, steady rental income, and minimal vacancies​ (Urban Land Institute)​​ (Archinect)​.

Cost-Effective Construction

The smaller size of micro units allows for more cost-effective construction. Developers can fit more units into the same footprint, optimizing land use and reducing overall development costs​ (Archinect)​.

Lower Operating Costs

Micro units typically have lower operating costs. Their size requires less energy for heating, cooling, and lighting, lowering utility expenses. The compact design also means lower maintenance costs. These reduced operating costs contribute to higher net operating income for property owners​ (Urban Land Institute)​​ (Archinect)​.

Key Definitions from the ULI Report

Micro Units

Small apartments, typically 275 to 450 square feet, designed for maximum efficiency and livability through innovative design and multifunctional furniture​ (Urban Land Institute)​.

High-Density Urban Areas

Micro housing is suitable for high-density urban areas where space is at a premium and real estate costs are high. Successful implementations in cities like New York, Boston, and San Francisco highlight this​ (Archinect)​.

Shared Amenities

Common facilities available to all residents, including kitchens, lounges, gyms, and outdoor spaces, fostering community interaction and providing additional living space​ (Urban Land Institute)​​ (Archinect)​.

Conclusion

Our 162-unit micro housing project in Columbus, Ohio, represents a forward-thinking approach to urban living. Focusing on economic advantages—such as higher rent per square foot, higher occupancy rates, cost-effective construction, and lower operating costs—we aim to offer an attractive investment while meeting the housing needs of a diverse urban population. Micro housing not only addresses financial and spatial constraints but also promotes sustainable, community-oriented living.

For a comprehensive understanding of the economic benefits and other advantages of micro housing, refer to the full ULI report on micro units here​: https://uli.org/.../ULI.../MicroUnit_full_rev_2015.pdf

Rob Ellis

Pink Development and Construction LLC

614-400-8762

[email protected]

 careful with land in Florida that's all I can say. how much cash do you have get ready to fund a lot of engineering if it's not been built on before 

 how can you have an accessory dwelling unit at 4+ units? that would be a rezone or non conforming use or just apartments or multifamily units. 

We are in rezoning for a 162 unit micro unit 20 story development in columbus OH and looking for partners:

Some press (outdated with recent revisions but gets the message across):

https://columbusunderground.com/11-story-building-proposed-f...

Site Data

Site Area: 0.0977 acres
Disturbed Area: 0.0947 acres
Pre-Developed Impervious Area: 0 acres
Post Developed Impervious Area: 0.0947 acres Zoning: Pending CPD Zoning Approval
Current Certified Address: 278 S Glenwood Ave Tax Parcel Number: 010-018394
Area Commission: Franklinton Area Commission

Building Data:

Total Gross Floor: 79980 SF
Total Dwelling Units: 162 units (3 Retail Spaces In Addition)
Density: 1620 Units / Acre
Floor Area Ratio: 85,066 Building Sq Ft / 4257 Site Area = 19.98

Height District: H-60 (Existing), H-200 Proposed

Max Building Height: 199’ 11” (By Pending CPD Zoning)

Parking and loading Required:
162 DWELLING UNITS x 1.5 SPACES/UNIT = 243 SPACES 3,400 SF RESTAURANT (1 SPACE/75 SF) = 46 SPACES 1,900 SF RETAIL (1 SPACE/250 SF) = 8 SPACES Total is 297 spaces required
ADA SPACES provided: 0 SPACES
Minimum Loading Spaces: None Required

Total Spaces Required: 1 SPACES REQUIRED

Parking Provided:
REDUCTION TO 0

BICYCLE PARKING PROVIDED: 0 BIKE RACKS

REFUSE CALCULATIONS/NOTES: 0.5 CY PER DWELLING UNIT REQUIRED, each unit will be provided with a 25 Gallon Trash Can which will be collected at the door each evening if they set it out and part of the Valet and hospitality contract. Same with Recycling during assigned evenings and the bins cleaned weekly. This is Via a private hauling contract.

TREES PROVIDED: 6 rooftop and 2 in the public right of way, 8 total with additional planters and natural elements throughout the rooftop areas and first floor.

Micro housing is a smart economic solution for urban living. Our 162-unit micro housing project in Columbus, Ohio, showcases significant economic advantages, as highlighted by the Urban Land Institute (ULI) report.

Economic Advantages of Micro Housing

Higher Rent Per Square Foot

Micro units command higher rent per square foot compared to traditional apartments. Despite smaller size, tenants pay more per square foot for prime locations and amenities. This increased revenue potential is key. The ULI report shows this trend across high-demand urban areas​ (Urban Land Institute)​​ (Archinect)​.

Higher Occupancy Rates

Micro housing developments often have higher occupancy rates than traditional apartments. Affordability and urban locations attract a wide range of residents. High demand for affordable, well-located housing ensures robust occupancy rates, steady rental income, and minimal vacancies​ (Urban Land Institute)​​ (Archinect)​.

Cost-Effective Construction

The smaller size of micro units allows for more cost-effective construction. Developers can fit more units into the same footprint, optimizing land use and reducing overall development costs​ (Archinect)​.

Lower Operating Costs

Micro units typically have lower operating costs. Their size requires less energy for heating, cooling, and lighting, lowering utility expenses. The compact design also means lower maintenance costs. These reduced operating costs contribute to higher net operating income for property owners​ (Urban Land Institute)​​ (Archinect)​.

Key Definitions from the ULI Report

Micro Units

Small apartments, typically 275 to 450 square feet, designed for maximum efficiency and livability through innovative design and multifunctional furniture​ (Urban Land Institute)​.

High-Density Urban Areas

Micro housing is suitable for high-density urban areas where space is at a premium and real estate costs are high. Successful implementations in cities like New York, Boston, and San Francisco highlight this​ (Archinect)​.

Shared Amenities

Common facilities available to all residents, including kitchens, lounges, gyms, and outdoor spaces, fostering community interaction and providing additional living space​ (Urban Land Institute)​​ (Archinect)​.

Conclusion

Our 162-unit micro housing project in Columbus, Ohio, represents a forward-thinking approach to urban living. Focusing on economic advantages—such as higher rent per square foot, higher occupancy rates, cost-effective construction, and lower operating costs—we aim to offer an attractive investment while meeting the housing needs of a diverse urban population. Micro housing not only addresses financial and spatial constraints but also promotes sustainable, community-oriented living.

For a comprehensive understanding of the economic benefits and other advantages of micro housing, refer to the full ULI report on micro units here​: https://uli.org/.../ULI.../MicroUnit_full_rev_2015.pdf

Rob Ellis

Pink Development and Construction LLC

614-400-8762

[email protected]