Three developers weigh options for a 173-unit housing project on an RV park site. Tiny homes would cost $150,000 each, while luxury duplexes need rezoning but could command $500,000 per lot. Current zoning limits them to tiny homes unless they pursue a multifamily rezone.
Are you in the deal room?
And retrofitting that park to hold 173 houses? Yeah, we'd have to sell them for at minimum $500,000 a lot with the house on it.
What about like high-end, like a condo or duplex?
But that's a rezoning to multifamily. If it currently has an RV mobile home park zoning, to stay in that parameter, we'd have to come in with 173 tiny homes times $150,000. What is that?
What about that guy that we met at SquatUp who had those manufactured homes that were duplexes?
No, those are low-income housing. So we could do the luxury tiny homes here, but based on what it's saying, we'd have to sell them at. So let's do the math on that real quick, Katya. We have an understanding that there's 173 home sites. So if we built 173 custom tiny homes ranging from $150,000 to $250,000 total cost, And then we want to have a 30% markup to that. Add that to the lot price and tell us how much we would need to sell each one for, and then how much we would need to charge lot rent to maintain the entire park.
