Acquisition Criteria
We are seeking parcels located in neighborhoods with growth characteristics that will support the extraordinary lifestyle associated with our residences.
ElmRidge Property Group seeks land parcels with the below chatacteristics. Stabilized properties with similar neighborhood attributes will be considered on a case-by-case basis.
Property Requirements
Land size should range between five and twenty acres
Relatively flat topography, no extraordinary development costs
Utilities to site or nearby
No detrimental property uses adjacent to the site
Supportive population demographics, income levels, property values
Strong population growth and job formation
Particular emphasis in the medicine, research, and technology sectors
Focus on fast-growing submarkets in the Carolinas, Florida, Northern and Central Texas, and Colorado
Suburban-node location with nearby amenities
Community center anchored by a leading grocer in very close proximity
General retail, entertainment, and medical services existing (or under construction) nearby
University and airport within 30 to 45-minute driving distance
Ability to achieve zoning for an age-restricted living facility
Density of 25 to 40 du per acre and allowing three to four story construction on 5 to 7 acre parcels, with balance in lower density single floor cottages
Permitting for a 1.5 to 1.65x parking ratio, 25% of which may be external garages
“Nice to have” neighborhood amenities
Prefer sites with well-traveled street visibility
Parks, nature, and hiking trails existing or under development nearby
Strong preference for neighborhood walking paths, golf cart or bicycle paths
Contact us about a potential opportunity
If you or someone you know has a prospective site that may meet our criteria, please contact us by email, phone, or complete the below form and we will get back to you soon.
Ed Casal | Managing Partner
ed.casal@elmridge.llc
332.345.3360
Russ Bates | Managing Partner