A real estate development start-up who's mission is to build more affordable housing for working people who are just starting out in life and can't afford the normal cost of housing in this local area.
Problem: In Oxford and Lafayette County Mississippi the rental housing is expensive due to three facts. One is that there is a lot of people retiring here. Older couples are retiring from areas of the nation where real estate prices are much higher than here. There they have a small homes they sell and they are able to move here and buy much bigger and nicer homes and live comfortably. Second there are a lot of professional people choosing to stay here to live, work and raise a family here. And third the University of Mississippi of is here. With all of the students with of of the students. The students and families are able and willing to pay the higher prices to live in the large apartment complexes. This is all wonderful because the housing market is great here. Our tax base is good here. Our schools are ranked highly in the state and nation. So what's the problem? This drives the cost of living up and creates a void in the rental housing market.
There is a need and a niche in the local rental housing market for people and/or small families who are not retired, maybe not professionals, or not undergraduates students at the University of Mississippi that are who are just starting out in life to have a place to live that is more affordable.
My idea is buy under valued land around my area, develop it and build single family rental units that will be affordable.
My project plan is the development of a twenty eight single family rental housing units on 16 acres of land called Withy Woods. Each unit will be approximately 1300 square feet, two bedroom, two bath, with kitchen, dinning room/living room area with a mud/wash room in back. The estimated cost of each unit is for everything is $155,000 and will be built in phases if necessary. This price includes the dirt work, infra-structure, water, sewer, electric, telecommunication, and construction of the units. This project is ready to go. All of the engineering plats, surveying, design, house plans, sewer plans, water plans, electrical plans. I have the final approval from the planning committee, all of the permits and other approval from the MDOH, and contractors lined up and ready to start. Only thing needed is the money to start with. I am vested with this project I bought the land and have paid for the surveying, the engineering design, the sewer engineering planning and design, the water supply engineering planning and design, and have paid for all of the permits needed thus far.
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