Zoned Active Adult Development Site 182+/- Units | Cedar Hill, TX

Highlights:

• The 8.56+/- acre Site is ideally located at the northwest quadrant of US Highway 67 and W. Wintergreen Road just three miles south of Interstate 20, five miles west of Interstate 35, and ten miles south of Interstate 30 allowing for easy access to the entirety of the Metroplex.
• In the immediate area are a number of national grocers, retailers, and restaurants such as Costco, Chick-fil-a, Starbucks, 7-Eleven, and more.
• Approximately 3 miles south of Methodist Charleston Medical Center, the only hospital with a Level 3 trauma center and heart failure clinic in the region.
• The Site is zoned through ordinance 2022-775 allowing for 182+/- units of “retirement housing” which is age restricted to 55+.
• Seller will convey a construction set of engineering and architectural plans as well as existing 3rd party reports to a Purchaser at Closing. Seller to complete preliminary plat prior to closing.
• The Buyer will have to construct the storm water drainage improvements which is estimated to cost approximately $1MM. Please note, the ability to pull building permits for this Site is contingent on a permit for 6,000 sf retail pulled prior.
• Per the US Census Bureau, the population of Cedar Hill grew by 1.31% between 2020 and 2021 from 48,337 to 48,968.
• According to Texas Realtors, the median price for homes in Cedar Hill as of March 2024 is $366,450, a 18.8% increase year-over-year.
• Active adult rent comparables within a 15 mile radius are achieving market rents up to $2.21 psf.

Description:

Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer developers and investors the opportunity to purchase an 8.56+/- acre entitled active adult development site located at the northwest quadrant of W. Wintergreen Road and US Highway 67 in Cedar Hill, TX just minutes south of the Dallas CBD (the “Site”). The Site comes with completed plans for a 182 unit, 3-story, 55+ age restricted community which the Seller will convey along with existing third party reports at closing.

The 8.56+/- acres are within a larger 13.75+/- acre site which is set to have retail fronting US Highway 67 and Wintergreen Road, through which the Site will be accessible. This is an excellent opportunity to acquire zoned land at an attractive price of $23,764 per developable unit.

To gain access to the marketing brochure and full Due Diligence Vault click on the link below:

https://docsend.com/view/s/8bc35j256hc9nmk9

A 2% co-broker fee is available to a Co-Broker that sources a Principal that VREA has not previously contacted in any format or sent information regarding this opportunity.

Documents: