Recognizing what is possible is part of an agent’s job. And understanding how to predict pricing for infill, especially unique infill, is critical in working with the development community.
Developer: Bill Chapman Enterprises
Architect: Burt Pinnock/Baskervill
Residential Broker: One South Realty
Commercial Broker: One South Realty
Units: 6 Contemporary Row Homes
Development: Special Use Permit/Infill
A non-descript office and an underused parking lot was begging to be something more. Pairing opportunity with vision ended up creating one of the most unique engaging developments in recent history.
The site was perfect for the modern architectural aesthetic chosen by the developer. The 2600 block of Floyd Avenue is framed by the Retreat Hospital parking deck and a handful of pedestrian single family homes and duplexes. Additionally, the existing office building on the site was not considered a contributing historical structure to the Fan District. It gave both the developer and the architect a great deal of latitude in their design.
Along with brokering the sale from the owner to the developer, One South was intimately involved in the scope, pricing, selections and final marketing strategy. The results were as follows:
- $255/SF sales price – 19% higher than the Fan District pricing
- 3 homes sold prior to construction with the remaining homes sold prior to completion
- zero appraisal issues for both the construction lender and the individual mortgage lenders despite no direct comparable sales