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Collin County Build Project


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Collin County Build Project

  2. 2. Dallas Morning News , July 1 st 2009 <ul><li>“Already it is clear that there is a limited </li></ul><ul><li>amount of existing or newly built housing at the price points under $200,000” </li></ul><ul><li>-Ted Wilson </li></ul><ul><li>Residential Strategies Inc. </li></ul>
  3. 3. Project Background <ul><li>This project spawned from the desire to take advantage of the growth of Collin County and the need for entry level homes in existing neighborhoods. To be more precise, homes that are located in desirable commuting towns, within existing older established neighborhoods, where a well-crafted home can fit in with the surrounding homes. </li></ul><ul><li>The homes will fit a market niche where either a single homeowner, young family, or older persons looking to down-size, desire a home in the community where a smaller home either fits their budget, their need to remain connected to the “small town” way of life or family members. </li></ul><ul><li>STARLINE HOMES will build quality & energy efficient homes with a square foot range of 1,000-2,000 feet, depending on the lot size and surrounding homes. Each STARLINE HOME will be designed with the surrounding homes style incorporated into its exterior architectural design elements. Thus, blending the home into the fabric of the neighborhood and giving it a timeless feel. </li></ul><ul><li>One of the key selling features of each STARLINE home will be an energy efficient package that will include the following items: </li></ul><ul><ul><li>Low-e Windows </li></ul></ul><ul><ul><li>Radiant Barrier Roof Decking </li></ul></ul><ul><ul><li>Tank-Less Hot Water Systems </li></ul></ul><ul><ul><li>14 Seer HVAC Systems </li></ul></ul><ul><li>STARLINE HOMES feels that this energy package will set us apart from other builders in this price point and existing pre-owned homes that are on the market. Along with the true building quality of Dustin Dellinger and 15 years of experience in the residential home building industry, STARLINE Homes will fill a niche market in the Collin County area. </li></ul>
  4. 4. LIVING LARGE AND LEAVING A SMALL FOOTPRINT <ul><li>“ and then there’s the fact that buyers, on average, don’t need as much because households are smaller. Of the 28 million households that are expected to be added to the American landscape between 2010 and 2030, fewer than 5 million (about 17%) will be families with kids, while 10 million are projected to be single person households.” </li></ul><ul><li>-Builder Online </li></ul><ul><li>June 2, 2009 </li></ul>
  5. 5. TARGET CITIES <ul><li>Allen </li></ul><ul><li>Celina </li></ul><ul><li>Frisco </li></ul><ul><li>McKinney </li></ul><ul><li>Melissa </li></ul><ul><li>Princeton </li></ul><ul><li>Prosper </li></ul><ul><li>All of these towns have incredible growth patterns, yet take pride in their history and sense of small town America by maintaining their core downtown residential areas. </li></ul>
  6. 6. A picture is worth a thousand words…
  7. 7. Proposed Project #1 Single Family Home Celina – 311 S. New Mexico St. <ul><li>Assumptions: </li></ul><ul><li>Home Size: 1260 sq.ft. </li></ul><ul><li>Build Time: 60-90 days </li></ul><ul><li>Cost: $78 (Hard+Soft+Lot) </li></ul><ul><li>Sale: $91 </li></ul><ul><li>Sales Price: $115,000 </li></ul><ul><li>Costs: </li></ul><ul><li>Hard Costs </li></ul><ul><li>Lot Cost: $10,500 </li></ul><ul><li>Labor & Materials: $80,608 </li></ul><ul><li>Total Hard Costs: $91,108 </li></ul><ul><li>Soft Costs: </li></ul><ul><li>Realtor Commission (3%): $3,300 </li></ul><ul><li>Loan Interest Costs: $1,500 </li></ul><ul><li>Total Soft Costs: $4,800 </li></ul><ul><li>Hard Costs + Soft Costs: $95,908 </li></ul><ul><li>Total Project Profits: $19,091 </li></ul><ul><li>Percent Profit: 16.60% </li></ul>
  8. 8. Proposed Project #2 Single Family Home Princeton – 126 E. Gantt Street <ul><li>Assumptions: </li></ul><ul><li>Home Size: 1500 sq.ft. </li></ul><ul><li>Build Time: 60-90 days </li></ul><ul><li>Cost: $70 (Hard+Soft+Lot) </li></ul><ul><li>Sale: $80 </li></ul><ul><li>Sales Price: $120,000 </li></ul><ul><li>Costs: </li></ul><ul><li>Hard Costs </li></ul><ul><li>Lot Cost: $18,000 </li></ul><ul><li>Labor & Materials: $80,608 </li></ul><ul><li>Total Hard Costs: $98,608 </li></ul><ul><li>Soft Costs: </li></ul><ul><li>Realtor Commission (3%): $3,600 </li></ul><ul><li>Loan Interest Costs: $1,500 </li></ul><ul><li>Total Soft Costs: $5,100 </li></ul><ul><li>Hard Costs + Soft Costs: $103,708 </li></ul><ul><li>Total Project Profits: $16,292 </li></ul><ul><li>Percent Profit: 13.57% </li></ul>
  9. 9. Proposed Project #3 Single Family Cottages Allen- Cedar/Coats Drive <ul><li>This will be a pocket neighborhood of cottage style homes that will utilize the zoning and visions of the Allen central business district to bring desirable and affordable residential homes to the downtown area. Modeled after the unique and award winning designs of architect Ross Chapin in the Seattle, WA area. Station Park Cottages will be a pocket of 4 home sites sitting on roughly 18,500 sq.ft. They will have a sense of being their own neighborhood within the already established downtown and Allen’s Station Park area. </li></ul>
  10. 10. STATION PARK COTTAGES <ul><li>Location, Location… </li></ul><ul><li>-1 Block from Allen Station Park </li></ul><ul><li>-1 Block from Allen Senior Center </li></ul><ul><li>-1 Mile from Allen Senior High School </li></ul><ul><li>-Minutes from Central Expressway </li></ul><ul><li>-Minutes from Allen Presbyterian Hospital </li></ul><ul><li>-Shopping for all ages: Waters Crossing </li></ul><ul><li>Allen Premium Outlet, The Village, … </li></ul><ul><li>-Allen Event Center </li></ul><ul><li>-Major Employers </li></ul><ul><li>-Allen Public Library </li></ul>&quot;Our Goal is to provide unique single-family housing choices that fit seamlessly into larger neighborhoods. The approach is to create beautiful, serene places where people want to spend their lives.&quot; -dustin Dellinger
  11. 11. Site Design – The proposed site is 18,500 sq.ft. (100’ x 185’). There will be 4 Cottages, a shared auto barn complex along with an open landscaped community space and off street parking for visitors.
  12. 12. Proposed Project #3 Station Park Cottages Allen – North East Corner of Cedar St. and Coats Dr. <ul><li>Assumptions Based on 4 Homes –Phased Construction </li></ul><ul><li>4 Homes: Size (Typ.) 1500 sq.ft. </li></ul><ul><li>Build Time: 90-120 days </li></ul><ul><li>Cost: $105 (Hard+Soft+Lot) </li></ul><ul><li>Sale: $128 </li></ul><ul><li>Sales Price: $185,000 to $200,000 (avg. $192,500) </li></ul><ul><li>Costs: </li></ul><ul><li>Hard Costs </li></ul><ul><li>Lot Cost: $150,000 </li></ul><ul><li>Labor & Materials: $450,000 </li></ul><ul><li>Total Hard Costs: $600,000 </li></ul><ul><li>Soft Costs: </li></ul><ul><li>Realtor Commission (3%): $23,100 </li></ul><ul><li>Loan Interest Costs: $10,000 </li></ul><ul><li>Total Soft Costs: $33,100 </li></ul><ul><li>Hard Costs + Soft Costs: $633,100 </li></ul><ul><li>Total Project Profits: $136,900 </li></ul><ul><li>Percent Profit: 17.77% </li></ul>