A team drafts an LOI to buy land, stabilize it with renters for 2-4 years, then rezone it for luxury multifamily housing by 2030 in Tempe. The strategy bets on falling saturation rates and higher demand to drive value.
Are you in the deal room? One more time in here, because I'm going to share this with you. Go ahead and put together an LOI on this property and give us a list of the 5 things we're going to need to move into a PSA. We want to make sure that we are doing this under the land holding company that we have, the Land Stabilization Fund. We're going to need a plan of how this all comes together, but for now, we're going to come up with an exit strategy of buy the land, stabilize it with renters for 2 to 4 years, get it entitled, get it annexed and get it ready for rezoning for multifamily to become the next multifamily development by 2030 in the Tempe market, because we believe historically that the saturation rate will drop by then and the, the need for luxury multifamily housing will be apparent. So go ahead and put this whole plan together along with a downloadable LOI, and I'm gonna be able to share this with our executive assistant and chief of staff, Katya Lindstrom.
