Overview
- Updated On:
- September 27, 2024
Property Description
The Urban Acres Development Site. Un-Entitled. Un-Remediated. We are seeking an as-is purchaser with both capital and patience to take advantage of this timely opportunity.
On behalf of the Seller, Evanisko Realty has filed a master entitlement application with site plan (thank you to Ziese Architecture for the site plan assist) in the City of Cudahy for Initial Development Review to gain formalized departmental feedback on the execution of a 50 unit attached for-sale townhome development concept. This is a concept executable under today’s zoning.
The City’s response letter was received on 3/6/24 with commentary affirmative in nature.
The project concept contemplates attached 3-story units, the use of tandem garages for many of the units, and the utilization of 50% State bonus density. The project concept includes five low-income units (at VL rate) which satiates both state bonus density and City of Cudahy inclusionary requirements.
The site will require environmental remediation involving the removal and disposal of soils above residential screening levels for various metals. An actual budget to remediate will be codified when a formal Remediation Action Plan (RAP) is approved by the applicable governing agency (likely DTSC in this case). A detailed synopsis of the scope, anticipated process, and estimated cost to reach environmental closure is included in the project brochure (link above).
The site is being heavily discounted for consideration of only quick sale proposals.
- Principal and Interest
- Property Tax
- HOA fee
