- To design a building that is both efficient to build and construct on a narrow infill site while pushing the limits of design.
- Meticulously plan layout of residential units to maximize space.
- Explore the potential of hospitality/short term rentals given acceptable zoning.
Key Investment Highlights
- Acquire and entitle property with smaller group of local investors.
- Bring in tier 2 equity at construction financing.
- Explore construction to permanent financing relative to stated goal of building remaining a long-term 47 North asset.
By The Numbers
Acquired - 2019
Built - 2022 (est.)
Lot - 3,380 SF
Zoning - NC2-65 (M1)
Building - 15,000 SF (est.)
Interesting Project Fact
Due to recent up-zone, building allows no side setback from the adjacent properties allowing 6 units per floor on a lot that is only 33ft wide.
Developer: 47 North
Contractor: 47 North (TBD)
Structural: Frank Co.
Landscape: Root of Design