Turn That Vacant Lot into a Profit Property

Have you got an odd piece of property or two and you don’t know what to do with them? Like those left-over auctioned properties that you bought at the court house [tag-ice property ]steps[/tag-ice]?

Apartment contructionHave you got an odd piece of property or two  and you don’t know what to do with them?  Like those left-over auctioned  properties that you  bought at the court house [tag-ice property ]steps[/tag-ice]? 


Have you been paying the $25 tax bill for years just because?  No specific reason not to, the property is just there.  You can’t sell it so you just keep it in a back corner of your property portfolio.


Maybe  a very good return on your money can be made after all.  Here’s the  solution from a group of University of Tennessee architecture students. 


The Challenge:  take the worst left over  parcels  and turn them into  profitable residential or commercial properties.  The students   purposely searched for triangle or wedge-shaped  properties, as well as  vacant neglected lots near railroad tracks. 


The Solution: Then they went to work designing new homes, some retail shops, and apartments transforming neglected areas into affordable housing.  


The  “[tag-tec]Infill Development[/tag-tec]”  concept has  caught fire.  A non-profit group supplying housing to  the  homeless and former convicts is interested.  Small businesses can  spring up  where no one thought they could squeeze in before.  And  of course, regular  [tag-cat]housing[/tag-cat] that’s both attractive and economic  can now be built  for people who want to live in the city.  


In order to make all  this excitement  possible, the students had to come up with ways to get rid of   noise problems  near interstates and railroad tracks.   Thicker walls and  unusually shaped windows are just a few of the ingenious and practical ways they developed to create a new profit center on formally useless lots.


“The infrastructure is already  in place. You already have sewer, water, sidewalks,” says Lisa Milligan, a staff planner for Hendersonville, Tennessee.  “If you have available land that’s already served by infrastructure, then it, of course, makes sense economically to develop that land.”  


As we think outside of the box, these concepts can be used almost anywhere. 

Why not take a drive through your town or city and turn  your imagination on?   Who knows what a tiny  insignificant piece of  write-off [tag-cat]property[/tag-cat] could do for you in 2007?  



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