While I've never been inside one (except for a tiny exhibition at SXSW a few years ago), I enjoy reading about them online. Though more expensive than I would have guessed ($250-400 psf not including the land), I like the smaller spaces and the progressive designs.
Has anyone had any experience with them? Especially relating to environmental tests, connecting to city services, etc (things developers do all day long) as an individual.
No intention of obtaining one, but the internet is heavy on Curbed-style content, and light on the mechanics of actually executing on one. Just curious!
In most desirable areas, there are zoning bylaws that make it hard to use these. Restrictions on ADUs, minimum dwelling unit sizes, minimum lot sizes, restrictions on manufactured housing, etc. That's the main reason they're not more common. Manufacturing them isn't rocket science.
Good points @BeaconStreet", thanks!
Zoning laws and NIMBYS need to fucking die
Curious to hear how these are financed both on the construction side and on the permanent side? I assume a local bank would be all over the construction loan but who might do the take out? Life Co? Fannie or Freddie?
Check out 83 Freight in Nashville.
http://www.smithgeestudio.com/case-study/83-freight/</a">http://www.smithgeestudio.com/case-study/83-freight/
Something exactly like this is what I would be curious about. I have spoken with folks at the Agency shops and they wouldn't be able to touch this. I find it hard to believe that a local bank would be the only type of lender willing to give it a shot, but maybe it's still so new that it's tough to get it done.
Will be interesting to see if this type of development takes off. I wonder what the cost savings (If any) would be vs traditional construction. Also, units are tiny and a few are micro units. I wonder how much COVID changes the market for micro units.
People talk about this kind of stuff all the time, it rarely ends up being as economical as it appears on paper because:
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