Laurel Ave
Land | 12.71 acres
Marketing description
With rezone, 65-68 townhomes or 30+- SFD with current zoning
In county, but adjacent to City Limits and could be annexed if desired
All gravity sewer, super easy site to develop.
Greenwood is on the verge of blowing up, Mark iii has recently purchased 3 large tracts in town
raw or paper lot purchase options.
The property is currently zoned R-2 which is a low-density zoning in Greenwood with the following requirements:
Minimum 21,780 sf lots
Minimum 75’ lot width
Maximum density of 2 units per acre
Investment highlights
According to a future land use map of Greenwood (attached), the county is expecting this parcel to be a medium density residential area (R3 or R4). We are thinking that we could annex the property into the City of Greenwood in order to rezone to R-7 and utilize a cluster option which would allow for the product you are looking for to maximize the site. See below for R-7 and cluster requirements:
R-7:
Minimum 6,000 sf lots
Minimum 50’ lot width
Maximum density of 7 units per acre
Cluster:
25% open space requirement
If open space is met:
Minimum lot area, lot width, and setbacks can be reduced by up to 25%
Even with the reduction, the side setbacks will be approximately 6’, so we provided an extra foot on either side of the lots to account for these setbacks.
Although R-7 is considered high-density residential, the attached layout only has a density of 2.28 units/acre which would be considered low-medium density. The proposed density aligns with the future land use map, but this rezoning may be difficult to get approved.
This layout yielded 29 lots (45’ X 135’) and approximately 1,142 LF of 50’ public ROW. Please let us know if you have any questions.
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