Long Lake Duplex Goal

Phase 1 — Land Control & Due Diligence CURRENT · Months 1–3

• Negotiate & secure the 4 parcels — 2043/2055 S Long Lake Rd (53-23-400-014 → -017), asking $350k, 144 days on market. Offer with due-diligence contingency.
• ALTA survey — resolve the acreage discrepancy (architect: 4.58 ac / MLS: 3.25 ac) — density math depends on it.
• Phase I environmental + soil borings — confirm buildable soils, water table, no contamination.
• Pre-application meeting with City of Fenton — site plan review path, confirm MHR duplex use by right, storm water and driveway-access requirements (Long Lake Rd curb cut / Genesee County Road Commission).
• Utility will-serve letters — water & sewer are at the street (per MLS); get tap fee schedule + capacity confirmation, Consumers/DTE service commitments.
• Deliverable: go / no-go memo with locked land basis and confirmed unit count.

Phase 2 — Design, Entitlement & Financing Months 3–7

• Construction drawings — Flum completes CDs (schematic + CD review done 3–4/2026); civil engineering for site plan, grading, storm detention, shared drive.
• Site plan approval — City of Fenton planning commission submittal → review → approval (typ. 60–90 days).
• Re-bid / contract — reconcile Transparent Construction bid to final CDs (resolve the sq-ft mismatch), bid the excluded site-work scope, execute fixed-price or GMP contract with draw schedule.
• Construction financing — package proforma + comps + contracts for lender; target construction-to-perm or builder line. Appraisal, closing, builder's risk policy.
• Permits — land improvement, building, soil erosion (Genesee County), driveway, water/sewer connection permits.
• Deliverable: shovel-ready — approved plans, signed GC contract, funded loan.

Phase 3 — Site Development Months 7–10

• Clear/grub, mass grading, erosion control.
• Shared drive cut-in + gravel base; storm water detention built first (required before vertical).
• Utility trunk runs: water/sewer laterals to each building pad, gas/electric corridors.
• Stake all 8 building pads; pour Phase-A foundations as weather allows (target Apr–Oct).

Phase 4 — Vertical Construction (two waves) Months 10–24

• Wave A: Buildings 1–4 (Months 10–18) — foundation → framing → dry-in → MEP rough → insulation/drywall → finishes → final inspections & C of O. ~6–8 months per wave with overlapping trades.
• Wave B: Buildings 5–8 (Months 16–24) — crews roll directly from Wave A; materials bought in bulk across both waves.
• Marketing starts during Wave A framing: signage on Long Lake Rd, pre-leasing (or pre-sales) from plans + model unit.
• Asphalt top-course on shared drive after heavy construction traffic ends.

Phase 5 — Lease-Up / Sell-Out & Stabilization Months 15–26

• If renting: units 1–8 lease during Wave B construction; units 9–16 on completion. Target 2–3 leases/month → stabilized ~Month 26. Refinance construction loan into permanent debt at stabilization.
• If selling: condo master deed + bylaws recorded before first closing; model unit + pre-sales; absorption ~6–10 units per selling season → sell-out across 2 seasons.
• Hybrid option: sell 4 buildings to recover capital, hold 4 in THE REIF portfolio.
• Deliverable: stabilized asset (or completed sell-out) + final investor report.