One of the elements of pursuing real estate opportunities and investments is what could happen surrounding them. The below linked story about a school campus in the Milwaukee suburb of Waukesha closing and the council close to a vote to allow nearly 600 multi-family units and more than 60 single-family homes on the 76 acre site could prove significant.
The developer has already lined up for the purchase, which is to their credit for knowing to do their homework and pursue the primary opportunity. They either get approved or the project doesn’t happen, which is certainly more favorable than being involved in a bidding or competitive process. It shows the value of performing research with the aim of making ideas happen.
If and when the project gets approved, there is what this development, to begin within the next year, would mean to the community. It also could mean a lot to other real estate developers, investors, contractors, lenders, and brokers, which are the audiences we serve.
More than 1,000 new residents are going to need services. They are going to need grocery stores, restaurants, retail, and services ranging from auto repair to insurance agents and many more. There could be the need for commercial buildings, whether by new construction or acquisition, to make all of this happen. Those are separate transactions and not subject to municipal approval. Chances are some of the owners of adjacent commercial property could be interested in selling their land or unused facility, and are now fully aware of the new potential. In other words, the price now may be as good as it gets, and would likely beat the competition.
Finding and creating opportunities through research reduces competition and opens up more avenues. The reason for pointing out the Waukesha situation is not only to alert valued connections in the Milwaukee area. No matter where you are, it can be beneficial to monitor and look for proposals, opportunities, and municipal plans within your location(s) of concentration.
A lot of our current and potential connections and clients do not have time to monitor for these possibilities. If you rely on Ai for that, your chances of receiving outdated or inaccurate data are as good as others doing the same thing receiving the info even sooner.
You won’t find opportunities to pursue your next big deal if you aren’t looking in the right places and using the right methods. My team and I can help in that process to make you First In!
(Here is the story: https://www.wpr.org/news/housing-site-of-closed-uw-milwaukee-campus-waukesha )
