Information on an innovative housing opportunity that promises to be
“small enough to be affordable but large enough to be comfortable” ©
Our Proof of Concept:
While the principals have spent many months and countless hours visiting various manufacturers who might supply the needed homes for all of our communities one of the highest level priorities since inception was to find land suitable to build the proof of concept.
A proof of concept will do exactly what its name entails. It will allow the company to prove that we have not only found the best modular manufacturers but that they do indeed provide a quality, livable home that meets the most stringent requirements for wind load, exceptional value, and quick placement in our community. Of course the right supplier will also have a price point that allows for maximum return on investment.
A proof of concept will also allow us to ensure that we know what to do and how to properly (and cost effectively) do the following things needed for any homes we place:
- Purchase land
- Obtain surveys and other needed items before closing
- Obtain title insurance on the land
- Do site clearing and initial prep (in many areas in Florida there are local requirements that need to be met and of course there are State and Federal requirements as well.
- Build adequate foundations for all homes (we anticipate overbuilding the foundations)
- Install water, sewer (or septic) for waste, electrical, and other needed utilities.
- Do proper (extensive) landscape and hardscape thereby providing the best value for owners of our homes
- Close on homes insuring proper profits for the company
To that end the principals have personally visited and viewed dozens of potential building sites for not only the smaller proof of concept but properties suitable for our much larger future community.
For the proof of concept we were looking for two to four building lots on which we could place two to four homes. We also looked at properties in the hundred of acres and while not ready to purchase (until the public offering is completed) many good contacts were made when it comes to purchasing larger pieces of land in the areas we want to build.
While lots for the proof of concept proved to be unrealistically priced on the East Coast and the middle of Florida we did find that the Port Charlotte/Punta Gorda area on the West Coast provided very good opportunities.
In four trips to the area a list of potential land purchases for the proof of concept was developed. Once the LLC had been initially funded and cash purchases could be assured the LLC made an offer on three lots (on 0.45 acres) in the Punta Gorda area.
While these lots had a unique layout we felt confident that we could easily put two houses on them and they could be divided to the end users advantage. Unfortunately, due to the listing about to expire the Realtor requested a very fast closing that while possible because we were cash buyers there was not adequate time to arrange for a survey and division of the land according to our specifications. That deal fell eventually through.
A few days later we made an offer on three directly adjacent lots on a paved road in Tropical Gulf Acres in Punta Gorda, FL (lots 14, 15, and 16 at 13231 Path Ave). The contracts were executed days later, and a survey ordered to split what was now one large lot (120 x 180) back into the original three small lots (each 60 x 120). Closing scheduled for October 30, 2024.
It was decided to break the larger lot into smaller parts because the local authorities would not allow for more than one house to be built on what was then a single lot.
We considered different splits (50/50, 60/40, etc.) but decided to go back to the original platted sizes because we could then put a smaller home on one of the lots with a larger home on one of the others - leaving the third for future use.
When we sell the finished homes in the proof of concept we could sell the last remaining lot with one or the other. Or we could hold it and possibly put another home on it in the future. Or we could simply hold the third lot as an asset of the company. Breaking it into three parcels allowed maximum flexibility.
As we started due diligence on the lot we found deed restrictions that kept homes at 720 Sq Ft or larger and others that prohibited mobile homes, campers, and RVs on the property. We appreciate the deed restrictions as they will ensure a certain esthetic is maintained in the entire community that will benefit future owners. As you can see in the image above one lot away from our property is a double lot with a very nice concrete block home on it.
This property is located in a large developing community just south of the city of Punta Gorda and just across the river from a slightly larger community of Port Charlotte, Florida. It is near an I-75 interchange and directly adjacent to Route 41 - a main throughfare between Fort Myers to the South and Port Charlotte to the north. Within just a few minutes’ drive are major grocery chains, hotels, pharmacies, and since it is less than 10 miles (and 15 minutes) away from Punta Gorda every convenience is available very nearby.
These are some of the homes we are anticipating placing in the proof of concept. Two of the companies’ principals will be visiting with three of the modular housing companies being considered to finalize details, and place orders for homes thereby insuring a slot in their production schedules.
- Proof of Concept Homes -
The smaller home will probably be one of these:
870 Sq Ft (not counting the porch) - 14’ x 62’ - two bedroom one bath:
920 Sq Ft (no porch) - 15.4’ x 60’ - two bedroom two bath:
816 Sq Ft (including the porch) - 24’ x 37’ - two bedroom one bath:
The larger home will probably be one of these:
1,200 Sq Ft (including porch) - 15.8’ x 42.8’ - two bedroom (plus a den) two bath:
1,280 Sq Ft (including porch) - 28’ x 48’ - two bedroom (plus a bonus room) two bath:
1,280 Sq Ft (including covered porch) - 26.8’ x 52’ - two bedroom (plus a den) two bath:
