All Forum Posts by: Zack Hawkins

That's great if that's the case. Good luck, I can't wait to follow along, sounds like an interesting project. 

I may have misspoke in saying it will require a variance, however I'd be surprised if you don't since you intend on changing the zoning of the portion you intend to use. It will certainly require a zoning permit/verification regardless since you are are relocating lot lines. 

Is this in University City or closer to Temple? Have you added any value to the existing property through rehab, or is it still the same leases as when you acquired it? When do the current leases end?

Seems like something you should hold on to at this point, even if you don't refinance the entire difference between the current note and what you believe it would appraise for. What neighborhood is this in?

Branden, where in Philadelphia? This seems like a good opportunity to turn things around, or liquidate before losing them. 

Feel free to DM me.

Welcome to BP Derek, how long have you been in Philadelphia and do you know the timeline and areas you're leaning toward investing?

Mayer,

You will need to combine the lots to have L&I approve what you're describing. These steps are how speculators add value to existing property. Do you have past experience in ground-up construction?

If you're looking to expand the build-able land on the CMX portion of the property it will be a multi-step process, that is doable, but will take time and money with risk that it is not approved.

1. Generate plot plan showing new commercial boundry lines

2. Submit plot plan to Philadelphia OPA.

3. If approved by OPA, submit the zoning variance to ZBA

4a. You will likely have to present this zoning variance to a neighborhood association

4b. Philadelphia ZBA would then review and take into account recommendations from the NA.

5. Submit for building permit

This process may take you at least 6 months, assuming there aren't steps along the way requiring response/revisions, and wouldn't include a building permit. Where is this property located anyway?

@Andresa Guidelli

When and where is the next meet up?

Seems there’s a lot of variables here. What makes you think you’d be allowed to chop an RSA-3 into separate parcels? That’s a single family semi-detached zoning requiring a sidelot. What would the hardship be?

The adjacent property, is that privately or city owned? What makes you think the city will condemn/demo it? How would you acquire the property? What’s the zoning of that property that would allow 3-4 units?

@A Hall what residential zoning is it? Does it currently have utility connections? Do you plan to develop or hold and hope it appreciates? What neighborhood in Philadephia?