Somerset Hill PUD
Mr. Lawrence represented an investor in the acquisition of three desirable apartment communities consisting of 710-units, in a transaction bow-tied with 100-acres of developmentally challenged vacant land. He and his appointments invested 3-years in the EIS process, and secured approvals for the construction of 446-home sites in the Somerset Hill PUD. Unfortunately, surface out-croppings of basalt bedrock frightened even the most experienced land developers. After a marketing period of more than four-years, an offer for the entitled site of $3.5M was eventually accepted in 1999, however, the buyer did not remove contingencies. 

Subsequently, CSRA negotiated a Development Contract with the owner and took charge of devising and implementing an economically viable Phase I development plan. This assignment entailed: collaboration with all of the earth science professionals on the plat design and specifications; application and processing of all government agency permit approvals; negotiation of all project contracts; supervision of all contractor's work and progress payments; point of contact for government agencies; and, architect of the plat’s marketing program. The project was completed in the summer of 2003 and sold-out shortly thereafter. These lots produced prices per square foot that had never been achieved for single family residential land in this market before for more info contact Info@CommerceStreetRA.com