Overview

This 4.36-acre lot is adjacent to Rollins Avenue Park. The property is within minutes of Addison Road Metro Station and has easy access to Central Avenue. The property was zoned for single family residential.

Execution

Quasar was engaged by landowner, taking the lead in navigating the entitlement process for the subdivision of the lot. Quasar then hired an engineering firm and oversaw the subdivision project management through its completion. The property was subdivided into lots to support the development of 33 townhomes.

Outcome

Quasar attained a return of 12% interest on capital invested into the project. The landowner selected Quasar to oversee the sales of the lots, paying Quasar a commission from the proceeds. The landowner did not have the ability to fund the project. Selling the land pre-development would have yielded the owner less than $600,000. Through Quasar’s efforts, the landowner is scheduled to sell the finished project for $1.5 million – a multiple of 1.5X of what the owner would have received without Quasar’s efforts.