Property Details

Property Description

SHADOW LAKES IS A PREMIER 10.17 ACRE (DIVIDED INTO 18 LOTS) EIGHT-PLEX TOWNHOME DEVELOPMENT located in the City of Foley, AL; one of Alabama’s fastest-growing residential real estate markets. This fully entitled Planned Unit Development (PUD) is APPROVED FOR 104 TOWNHOME UNITS, offering investors and developers an immediate, shovel-ready residential project with ALLINFRASTRUCTURE ALREADY INSTALLED (PAVED ROAD WITH CURBING, WATER, GRAVITY SEWER, CABLE, PHONE, INTERNET, STORM DRAINS and RETENTION AREAS). Having CIVIL ENGEERING and CONSTRUCTION PLANS (with M and E) COMPLEATED and INFRASTRUCTURE ALREADY INSTALLED saves a Developer millions of dollars and over a year and a half of time. Shadow Lakes Phase 1 (Re-Platt) is located within 0ne of two Opportunity Zones in Foley, Alabama. They are identified by census tracts 1003011501 and 1003011502. Opportunity Zones are part of a federal program established to encourage investment in low-income communities through tax incentives to investors. Investing in properties within these zones can provide significant tax benefits, including deferral of capital gains along with potential exclusions on future gains from the investment. Being that Shadow Lakes Phase 1 (Re-Platt) falls within one of Foleys Opportunity Zones, investors may be eligible for these incentives, increasing the properties appeal and potential return on investment. The property is strategically positioned near major highways, retail, employment hubs, Beaches, Amusement Parks and resort districts; making it ideal for build-to-sell or build-to-rent. With zoning and PUD approved, this turnkey project removes the uncertainty of the entitlement and permitting process, allowing investors to move forward immediately with construction. Please see all attached documents for further details. There is an additional 20 units in the existing buildings for sale as well, ref MLS #390934. Buyer to verify all information during due diligence.