John, John, and Larson:
As we progress through the study period, of course, the most important question is whether you go forward with the project.
If you do go forward, we need to resolve the following:
- How much is the cost of the sewer as you propose doing it via Innovation Avenue, and how much would we save by doing it through the Lynch properties?
- Aside from the sewer issue, as you develop the plan, does the one-acre Lynch property add value for you?
- What Smart Technologies can we work together to develop?
On the latter, these fall into 3 main categories:
- Implementing Casa Command into one of your apartment communities as a pilot program to improve the remote leasing process, add value for residents, and make management more efficient.
- Working together on developing one of the other tech-forward programs such as an advanced garage or the autonomous shuttle to the Metro. This could both be part of a Smart Tech District.
The last idea we haven’t really discussed yet is the digitization of the development process which would:
- Make information easier to access and integrate into decision making. No more digging back into the contract to try to find the language about zoning.
- By putting items in a searchable database, data such as cost per unit/engineering costs/etc can much more easily be compared across projects and across territories. And correlations between different factors can be extrapolated by regression testing to know which items correlate positively and negatively with increased profitability.
- This can also include a calendar with project-related events and reminders, note-taking functionality, group messaging, and much more.
- Sharing with outsiders and insiders only what info you want to share.
- Recording costs about vendors and comparing those to contract terms, etc.
- Make it much easier for groups to work together remotely.
I’m sure you’re familiar with what Michael Bloomberg did in terms of revolutionizing bond trading by vastly improving systems of information regarding both bonds and financial markets in general. We hope to do the same with real estate development. (Bloomberg started out as a bond trader, and later transitioned to a focus on IT. I started my career as a real estate developer, and later transitioned to IT.)
P.S. Of particular note:
All of the contacts associated with the project can be found here: https://casacommand.com/contacts/
Regarding the zoning discussion on Monday, both the comprehensive plan language regarding the Rock Hill area and the contract language regarding zoning can be found here: https://casacommand.com/land/rhr/greystar/#zoning
We have created a sophisticated calculator that allows you to input continuing project expenses and measure those against various financial benchmarks, such as the SP index, or returns adjusted for inflation. http://www.groomland.com/relative-return-calculator/
Not sure if you’re aware of this or not, but the property’s location in an Opportunity Zone allows substantial potential tax benefits if used in certain ways. No downside to this designation: https://casacommand.com/land/rhr/greystar/#opportunityzone
I didn’t hear back from you regarding my question about the Angler Phase One Environmental, but if you just want to have it updated you can check out our digitized copy here.
The photo album is a helpful feature when you’re just trying to give colleagues or others a general feel for the site: https://casacommand.com/photo-album/
Appraised Value $15,500,000- 18,000,000 as of February 1, 2018. You can see it here: https://casacommand.com/land/rhr/greystar/#appraisal
Although the property is very near Dulles Airport, it’s not under the flight paths or impacted by noise, as you can see here: https://casacommand.com/land/rhr/greystar/#flightpaths