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Old 12-20-2007, 10:00 AM   #1
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Going about building a Condo Complex (contractors please chime in!)


Hello all,

I'm a new member and am impressed with the forums. I've been searching quite a bit and has helped me with the DIYs around the house.

Now, fow my question.

I own a large acreage of land in Northern NY. I want to put up a condo complex in that land, and eventually sell them off. Could you shed some light on the process that's involved. My first time ever trying to take on a building project of the sort. I plan to hire professionals to do it, but I don't know what to expect.

Thus far, I've contacted the town, andthey said as long as i have my surrounding owners approval, I'll get the ok.

Thanks and happy holidays.

-Mike

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Old 12-20-2007, 04:27 PM   #2
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Going about building a Condo Complex (contractors please chime in!)


Hire an Architect from the area familiar with the zoning and the type of construction you're interested in building. The sentence about the towns answer seems a bit simplistic since they have no idea of the construction scope without plans.
Ron

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Old 12-20-2007, 08:08 PM   #3
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Going about building a Condo Complex (contractors please chime in!)


Beyond the construction and development portions of the project....PLEASE, PLEASE, please , consult with a real estate attorney.

A buddy of mine, who has done multiple housing and condo developments (in different states) is going thru a big headache on a recent project. ALL the condo units are sold. The town is causing problems and they say, no one can move in until "their town issues" are resolved. His buyers are furious, some have moved in anyways, etc, etc, etc...He is losing thousands per day, based on the situation.

My advice: Lawyer up BEFORE you have to learn things the hard way...and the more expensive way.
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Old 12-20-2007, 08:58 PM   #4
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Going about building a Condo Complex (contractors please chime in!)


Condo Developers get sued by HOA's on a regular basis, beware, carry good insurance. I am not familar with NY, here in CA all new Condo dev. are covered under a wrap policy, you pay for ALL subs insurance coverage, unfortunately even with you paying for insurance most subs still can't work under the wrap because of their regular policy which can and will forbid them from doing so. Bottom line the sub pool just got smaller.

AtlanticWB is right too hire a great R.E. lawyer
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Old 12-21-2007, 07:19 AM   #5
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Going about building a Condo Complex (contractors please chime in!)


Quote:
Originally Posted by yungwunn911 View Post
Hello all,

I'm a new member and am impressed with the forums. I've been searching quite a bit and has helped me with the DIYs around the house.

Now, fow my question.

I own a large acreage of land in Northern NY. I want to put up a condo complex in that land, and eventually sell them off. Could you shed some light on the process that's involved. My first time ever trying to take on a building project of the sort. I plan to hire professionals to do it, but I don't know what to expect.

Thus far, I've contacted the town, andthey said as long as i have my surrounding owners approval, I'll get the ok.

Thanks and happy holidays.

-Mike
Mike - this isn't going to be pretty.

1-If you don't have any experience in land development, you need to get in touch with the prodfessionals who do.

2-You do NOT need the "approval" of surrounding land owners to develop your land to the extent allowable by law. And often, even if it's not clearly granted by law, the "approval process" is just a dog and pony show because little if ANY land is zoned "condominium." The fact that you took the town's words at face vale shows you have NO experience in land develpoment.

3- A DIY forum is no place to be asking these kinds of questions.
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Old 12-21-2007, 10:29 AM   #6
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Going about building a Condo Complex (contractors please chime in!)


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Originally Posted by LawnGuyLandSparky View Post
Mike - this isn't going to be pretty.

1-If you don't have any experience in land development, you need to get in touch with the prodfessionals who do.

2-You do NOT need the "approval" of surrounding land owners to develop your land to the extent allowable by law. And often, even if it's not clearly granted by law, the "approval process" is just a dog and pony show because little if ANY land is zoned "condominium." The fact that you took the town's words at face vale shows you have NO experience in land develpoment.

3- A DIY forum is no place to be asking these kinds of questions.

Your completely correct. I don't have experience with this. However, I browse through these forums often, and am looking for some guidance. This is a project that I want to undertake, but not going to happen untill I completely know what I;m getting myself into.

There have been several great opinions given that will lead me to the right direction.

Thus far, it seems like I need blue prints and a lawyer before I can even think about moving forward.

LawnGuy, where do you think I can get some more info on soemthing like this. I did not intend to get the best answers out of this forum, but i figured that some sort of contract might happen to see my post and offer to chime in.

-mike
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Old 12-21-2007, 11:06 AM   #7
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Going about building a Condo Complex (contractors please chime in!)


You're looking for information that Consulting firms charge a pretty penny for. While the guidance you get here will be methodology and sequence, it will not do you any real good in the bones of the project.
Try speaking to Real estate developers who do what you're planning or hire a consulting firm.
Unless you have some sort of experience with this field you can lose your shirt a hundred different ways.
Ron
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Old 12-21-2007, 01:12 PM   #8
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Going about building a Condo Complex (contractors please chime in!)


I have seen alot of people try to be there own general contractor for their houses and end up paying more for a house and have some spotty work done. What construction experience do you have(helping brother in-law put up a square deck doesn't count)? You are taking on a huge project with from what i read, little or no experience. Reading from a forum is great place to start but it doesn't add up to real world experience. If you just want to finance this project great, like mentioned find a lawyer and architect, and not the cheapest, these guys are going to be married to you for the duration of this project so you want someone you trust and can count on. After all the planning is done you will need a general contractor to oversee everything, you will pay for his experience, again you will want a reputable person cause you are going to be married to this guy to. If you are going to try and be the general yourself i would say you are way out of your league. There will be way to many questions and responsibilities for you to handle. Hopefully these responses helped with your question. They are not meant to be harsh but only the truth. It will save you lots in the long run.
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Old 12-21-2007, 04:05 PM   #9
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Going about building a Condo Complex (contractors please chime in!)


Quote:
Originally Posted by yungwunn911 View Post
Your completely correct. I don't have experience with this. However, I browse through these forums often, and am looking for some guidance. This is a project that I want to undertake, but not going to happen untill I completely know what I;m getting myself into.

There have been several great opinions given that will lead me to the right direction.

Thus far, it seems like I need blue prints and a lawyer before I can even think about moving forward.

LawnGuy, where do you think I can get some more info on soemthing like this. I did not intend to get the best answers out of this forum, but i figured that some sort of contract might happen to see my post and offer to chime in.

-mike
1st I'd start with a real estate attorney that has dealt with the town board/zoning board in the land's jurisdiction. One belonging to a firm that's partnered with someone on the actual town board would be best.

The attorney can tell you if a project is doable or not, and to what extent. Like how many units, height and setback requirements, highway frontage etc.

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