Latest news with #subdivision
News.com.au
4 days ago
- Business
- News.com.au
How this Sunshine North duplex could earn $1m
A Sunshine North duplex passed in at auction on Saturday despite strong interest, but agents say the right buyer could unlock a six-figure windfall with just $15,000 worth of work. The property at 44 Ford Ave offers two self-contained homes on a single title, with 95 per cent of subdivision work already signed off. Only water meter separation remains, paving the way for two individually sellable properties with an estimated combined value of $1.06m. With $800,000-$880,000 price hopes, the dual-dwelling set up attracted 18 inspection groups, 12 inquiries and six contract requests — but failed to meet reserve under the hammer. The Agency Victoria's Jim Christou said buyers were circling the opportunity to rent both units or live in one while selling the other. 'You've got two complete homes here, both with their own kitchen, bathroom, and living zones,' Mr Christou said. 'The front is already leased for $450 a week, and the rear was kept vacant for the sale, but it could easily match that. 'That's $900 a week, with the chance to split the titles and bank the equity later.' Unit 1 features polished timber floors, a full-sized kitchen, and a lounge with split zones for dining and living. The rear home offers an equally spacious tiled layout, light-filled bedrooms, retro bathroom, and private backyard, ideal for multigenerational living, investors or resale. 'There's real potential for equity growth here — whether you hold both, sell one, or flip them once subdivided,' Mr Christou said. 'And the owner's already done all the hard work. You're stepping in with the finish line in sight.' Mr Chirstou said Sunshine North's low turnover made comparable sales difficult to find, but also reflected the area's stability and appeal. 'It's a tightly held suburb. Once people move in, they don't leave — even renters,' he said. 'We actually had more traction on this last winter, which is unusual, but I can feel buyer confidence returning.' The property remains available for private sale.
Yahoo
21-07-2025
- Business
- Yahoo
300 homes could be coming to a new subdivision in a Lexington community
More than three hundred new homes could be coming to Lexington soon if a new housing development gets approval from the town planning commission on Wednesday. Meritage Homes is asking the Lexington Planning Commission to approve sketches for a new subdivision on 191 acres along the 300 block of Barr Road. The plans call for 308 single-family homes on lots with an average size 1,746 square feet. The new houses would go on the west side of town, close to the playing fields at the Barr Road Sports Complex, Lexington Presbyterian Church and a facility where school buses are parked. Besides the housing, the new development will include a pool, clubhouse, pickleball courts and multiple fire pit seating areas, according to documents filed with the planning commission. 'The plan also includes a trail system that traverses the length of the property and aligns with a master trail plan being developed for the area,' the documents say. Plans include 73 acres of open space and a 50-foot landscaped buffer along Barr Road. The subdivision will have entrances on Barr and West Main Streets, as well as a rear emergency entrance near the amenities onto Wing Hill Drive. The developers will have to provide the town with a traffic study before work can begin, and the project may require intersection improvements on Barr Road at West Main and Wildlife Road. The area is zoned for residential suburban development, and the plans meet town density and lot size requirements, planning documents produced by town staff say. The new development would include publicly maintained roads with sidewalks, although roads planned to be constructed over existing pond dams in the area will likely not be accepted by Lexington County for maintenance, the report said. The Lexington Planning Commission will consider approval of the sketch plan at an 8 a.m. meeting Wednesday. Solve the daily Crossword
Yahoo
21-07-2025
- Business
- Yahoo
Town Council balks at purchase of Lettiere Tract water system
Jul. 20—WATERTOWN — James V. Lettiere was assured that he'd be able to get a water district formed for the subdivision that he owns in the town of Watertown. But those plans hit a major detour when the Town Council on Thursday night voted, 3-2, against the water district for the Lettiere Tract, leaving the deal that's been in the works for more than a year up in the air. "Are we going to have to go back to square one?" he said Saturday. To get the water district formed, Lettiere had to get enough residents to sign a petition to okay the deal. He had been told that a sufficient number of residents signed petitions for the project to move forward. The Town Council on Thursday night unanimously agreed that there were enough signatures. But when the vote to approve the water district came up, council members went into an executive session for about 10 minutes to discuss forming the district. They then came out and voted against the matter. Council members Michael Perkins, Joanne McClusky and Robert J. Slye opposed it, while Councilman David Prosser and Town Supervisor Joel R. Bartlett supported it. On Friday, Bartlett said he didn't know what the town's next move would be. The water district also would include about 15 homes on outer Ives Street. Bartlett doesn't know if the Town Council will decided to eliminate the Outer Ives Street portion of the district. Council members could just agree to move forward with the district consisting of only the 119 homes in the subdivision or "just drop the project," Bartlett said. "I don't know what's going to happen," he said. Neither does Lettiere. "I was disappointed," he said. "I don't know if they're going to change the project." The town would pay Lettiere $500,000 to purchase the subdivision's water system. On Thursday night, a Lettiere Tract resident questioned whether Lettiere should have been allowed to gather signatures since he was the one who was going to benefit from the deal. Lettiere said that the Town Council had approved that arrangement. Although the water system has been appraised for $650,000, Lettiere said he would move forward with the $500,000 "because that's the price I've said right along." For years, the 50-year water system has been the subject of much discussion over its fate. Some people have questioned its condition. Lettiere formally approached the town with the proposal in February 2023. Lettiere, 71, hopes that the project moves forward because he'd like to retire. Water users in the new district would pay $489 a year on the debt for the 30-year bond. They also would pay $8.02 per 1,000 gallons of water. According to the town, 51% of 147 property owners and 51% of the assessed valuation needed to sign the petition for the water district to move forward. Of those 147, 119 residents live in the Lettiere Tract and 17 own vacant lots. The four council members could not be reached for comment. Solve the daily Crossword
Yahoo
16-07-2025
- Business
- Yahoo
Summerside gives preliminary approval to 17-lot mini home subdivision
A new 17-lot subdivision for manufactured homes is moving forward in Summerside. During a special meeting Wednesday, city council gave preliminary approval to Traveller's Rest Mini Homes Ltd. for the development. The subdivision will be located between Cardinal Street and the east-west housing corridor that's currently under construction. Once it's completed, that corridor will connect Water Street East with Ryan Street in the city's north end. Summerside Mayor Dan Kutcher said the project will help diversify housing options in the city as the population continues to grow and the need increases for more housing — in particular, affordable units. "Not everyone can afford a single-family home, and we don't want just people living in single-family homes or in apartment buildings. You need to have a nice mix of housing across the community, whether that's duplexes, triplexes, fours, manufactured homes, mini homes," Kutcher told CBC News. "This is part of that. So this is good. It fits within the changes that we made to our official plan. It fits our goals as a city to create more forms of housing for more people." As part of the application, the developer is asking the city to cover the $15,500 cost of extending Cardinal Street from its current stub to the eastern boundary of the proposed subdivision. The city will pay that amount upon final subdivision approval. "Cardinal is a stub street. So generally, where there is a stub street, that means [that] at some point in time within the wider roadmap for the city, that stub will connect to another road," Kutcher said. "The issue is there's a short point of time where the one street starts and another begins. So the way it often happens here at the city, we help pay for some of that road work. All of the rest of the road work, the water and sewer and stuff, is already done. So it was a minor cost to bring the streets together." Preliminary approval is subject to several conditions. The developer must meet all municipal servicing requirements, enter into a subdivision construction agreement with the city, and satisfy the city's parkland dedication requirements.
Associated Press
12-07-2025
- Business
- Associated Press
DFW Land Acquires 90 Acres for Luxury Home Development Northeast of Celina
CELINA, Texas--(BUSINESS WIRE)--Jul 11, 2025-- Davidson Bogel Real Estate ('DB2RE') is pleased to announce the acquisition of 90 acres in Celina's extraterritorial jurisdiction. DFW Land purchased the tract and intends to develop a high-end subdivision less than a mile from Celina High School. This press release features multimedia. View the full release here: Davidson Bogel Real Estate ('DB2RE') is pleased to announce the acquisition of 90 acres in Celina's extraterritorial jurisdiction. The property is located at the northwest corner of Custer Road and E Legacy Drive. The land was owned by the family of John McStay, who utilized the property as a family ranch. David Davidson Jr., Edward Bogel, and Brad Chilcoat with Davidson Bogel Real Estate brokered the sale. 'It was a pleasure working with the Davidson Bogel team and the McStay family throughout this transaction,' said Vijay Borra, President of DFW Land. 'We are excited to contribute a high-quality development to the rapidly growing Celina community.' About DB2RE Davidson Bogel Real Estate (DB2RE) is a boutique land investment advisory group and brokerage firm headquartered in the Dallas-Fort Worth Metroplex. Founded by David Davidson, Jr., and Edward Bogel in 2015, the base principal of the company is exceptional client service, with investment and development of land throughout Texas and Oklahoma as the focus. DB2RE concentrates on land acquisitions, dispositions, and investment sales for families, trusts, and developers of retail, multi-family, industrial/mixed-use, and single-family communities. View source version on CONTACT: For more information about this transaction, please contact: [email protected] KEYWORD: UNITED STATES NORTH AMERICA TEXAS INDUSTRY KEYWORD: BUILDING SYSTEMS OTHER CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY URBAN PLANNING SOURCE: Davidson Bogel Real Estate Copyright Business Wire 2025. PUB: 07/11/2025 06:23 PM/DISC: 07/11/2025 06:23 PM
