This reclaimed flood plain project is a 19-acre tract that is 100% in the 100-year flood plain. The tract is on the river between the levees. We will purchase the tract, rezone it, engineer it, and permit it for 300 apartments. Hold time is projected to be 18 months.
Purchase Price: $4,000,000
Reclamation Cost: $900,000
Projected Sale Price: $7,500,000
Projected Profit: $2,600,000