COMPLETE LIVING EXPERIENCE!
Salisbury is a historic town nestled in the heart of Rowan County, North Carolina. With a population of approximately 35,000 residents, the city boasts a rich history dating back to the 18th century. It is known for its charming small-town atmosphere, picturesque landscapes, and cultural heritage.
Salisbury enjoys easy access to major transportation hubs, with proximity to Interstates 85 and 40, making it an ideal location for homeowners seeking a balance between serenity and convenience. A revitalized downtown area is highlighted by a thriving arts and theater district, along with popular shopping and dining destinations.
The town’s economy thrives on a diverse range of industries, including manufacturing, healthcare, education, and agriculture. The regional employment growth and stable economic climate have contributed to an increasing demand for quality housing options at affordable prices. The proximity to Charlotte has increased the demand for housing in this area recently.
The purpose of this proposal is to highlight the town’s potential for real estate development, provide an overview of the population and housing market, and outline our approach to creating an affordable, vibrant, and sustainable residential community. The project has obtained all necessary approvals from the city, county, and state to commence development. The target market for these homes are buyers who qualify for home loans around $400,000 and below.
Market Analysis
The housing market in Salisbury, NC, has been experiencing steady growth over the past few years. The demand for residential properties has been driven by the town’s strategic location, low crime rates, excellent schools, and the overall affordability of the area. With the influx of people seeking housing options outside the bustling urban centers, Salisbury presents a lucrative investment opportunity for residential development.
Project Overview
This proposal is to construct 60 new single family homes on McCainless Road in Salisbury, NC. The development will consist of a mix of two, three, and four-bedroom homes, thoughtfully designed to cater to various household sizes and needs. This market is experiencing significant growth due to the proximity to Charlotte metro area, the demand for housing will continue to increase in this area.
Investment and Funding
The estimated budget for this project is $22 million, which includes costs for land acquisition, horizontal and vertical construction, all required permits with the town, county, and state, as well as contingencies. We are actively seeking funding partners to join us in this promising venture and invite you to be a part of this development. Our team has a successful track record in executing similar projects, ensuring a profitable return on investment. For this project, we aim to raise $9 million.
Timeline
We anticipate completing this development within two years, subject to approvals and other regulatory requirements. Our experienced project management team will ensure a smooth and efficient construction process while adhering to the highest quality standards.
Conclusion
The proposed residential development in Salisbury, NC, offers an opportunity to cater to the rising demand for quality housing in a serene and family-friendly environment. The investors will keep 70% of the profit, and a minimum guaranteed profit of 8% will be paid prior to any incentive fees. The general partners will only be paid after generating a minimum of 8% profit on the project. The project is expected to deliver a 25% ROI to the investors. Please refer to the detailed project plan and financial breakdown attached herewith as exhibit A. We would be delighted to arrange a meeting to discuss the proposal further and answer any questions you may have.
