500 Unit Development near My Farm. How to Profit...

   / 500 Unit Development near My Farm. How to Profit... #1  

Omega Woods

Platinum Member
Joined
Mar 7, 2016
Messages
610
Location
Soddy Daisy, TN
Tractor
Branson 4520R, Kubota BX2380, Kubota RTV-X110C, Bobcat E50, ASV RT-50
I recently discovered a huge, multi-national land developer bought 200 acres directly across the road from my 17 acre farm (which has lake frontage in the summer time) and is planning to develop the property into 400 to 500 single-family homes. It's not for sure that they will move forward and they haven't filed their plan with the township yet but I'm both concerned and intrigued. The road I live on runs parallel to a state highway and currently has 250 or 300 cars per day. If they put in a development, that'll obviously go up by a factor of 10, to say nothing of the construction traffic for five to ten (or more) years.

So, my wife and I are talking about how to capitalize on this development if it goes forward. We're talking about self-storage, RV park, rental yard, landscape services, light excavation, land clearing, farmer's market, etc. etc.

If they're going to ruin my peace, the least I can do it make bank.

Any thoughts?
 
   / 500 Unit Development near My Farm. How to Profit... #2  
Boat and RV storage is an excellent idea. Going rates around here is Fenced with lights/camaras: $10/lf/month; covered storage: $15-20/lf/month; and dry rack storage: $25-30/lf/month. For simple fenced/lighted/automatic gates/cameras; you should have limited impervious surface, so limited storm water retention, assuming you wouldn't want asphalt. One of the issues with storage is the "traffic trip generation code" is Way higher then true. I think they figure 1 trip per 'berth' which is Insane. You might generate 1 trip per month per berth; but this is what determines the need for turn lanes; access radius', ect. You would also need to look into land use for your property, or a portion I'd it.

I'm sure this new neighborhood will be HoA or deed restricted; and almost all of them ban boats/RVs.
 
   / 500 Unit Development near My Farm. How to Profit... #3  
In Florida, boat or RV storage would trip zoning, access permitting, drainage permit, lighting, building, and would require an engineer that does commercial development on a small scale.
Screenshot_20230611_180209_Chrome.jpg
 
   / 500 Unit Development near My Farm. How to Profit...
  • Thread Starter
#4  
Boat and RV storage is an excellent idea. Going rates around here is Fenced with lights/camaras: $10/lf/month; covered storage: $15-20/lf/month; and dry rack storage: $25-30/lf/month. For simple fenced/lighted/automatic gates/cameras; you should have limited impervious surface, so limited storm water retention, assuming you wouldn't want asphalt. One of the issues with storage is the "traffic trip generation code" is Way higher then true. I think they figure 1 trip per 'berth' which is Insane. You might generate 1 trip per month per berth; but this is what determines the need for turn lanes; access radius', ect. You would also need to look into land use for your property, or a portion I'd it.

I'm sure this new neighborhood will be HoA or deed restricted; and almost all of them ban boats/RVs.
Very interesting. Thanks for posting the trip generation resources, may come in very handy!
 
   / 500 Unit Development near My Farm. How to Profit... #5  
Another thought, not really knowing your area, and local demand; would a package "twice the ice" kind of ice vending sell well around you?
 
   / 500 Unit Development near My Farm. How to Profit... #6  
Those do well almost anywhere. They are a bit of a pain but worth it in my opinion.
 
   / 500 Unit Development near My Farm. How to Profit... #8  
400-500 homes, its easy, starbucks or dunkin donut, if there isn't one within miles, easily a gold mine
 
   / 500 Unit Development near My Farm. How to Profit... #10  
So, my wife and I are talking about how to capitalize on this development if it goes forward. We're talking about self-storage, RV park, rental yard, landscape services, light excavation, land clearing, farmer's market, etc. etc.

If they're going to ruin my peace, the least I can do it make bank.

Any thoughts?
First thing to work on would be zoning. Are you currently zoned for commercial use? Will the local authority require permits, curb and gutter improvements, inspections and fees?
Throwing down some gravel and calling it an rv/boat park may sound profitable (usually is). a selfserve ice kiosk may be better.

 

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