Townhouse or Single-Family Development Opportunity

Transcription

1 Townhouse or Single-Family Development Opportunity Overview: Location: This 2.94 (+/-) acre site is located in the heart of Westover and within 500 feet of Route 19 (Fairmont Road). The adjacent property is West Colony Estate Townhouses for which this acreage has a right-of-way for ingress and egress. Raw land located between West Colony Estates and singlefamily home developments. Excellent opportunity for townhome or detached singlefamily residential development. The primary access is via Two, 20 Right-of-ways from West Colony Estates roadway to the property. All utilities are located on-site. Utility providers are as follows: Gas (Dominion Hope), Electric (Mon Power), Water/Sewer (MUB). Our asking price is $195,000. The property address is: 763 Fairmont Road Westover, WV Property is located outside of city limits so there are no B&O taxes or zoning restrictions. Easy interstate access to I-79. The site is ~0.6 mile from I-79, Exit 152. The immediate surrounding uses include townhouse development, single family neighborhood, and Sycamore Lanes (local bowling alley). Retail and restaurant amenities are within one mile of the site and include Wes Mon Plaza and Morgantown Mall.

2 Aerial - Close-Up Showing Location of Site The aerial above was shot in August This property is adjacent to Sycamore Lanes, West Colony Estates, and Westridge Drive. The property is prime for development for many reasons that are outlined below. The property is located outside of city limits: No zoning restrictions or B&O tax obligation. There is a deed restriction that prohibits modular buildings on the property. All utilities are on-site. Existing infrastructure is already started (right-of-way) with West Colony Estates. The original plan called for five, six-townhome strips. Only one six-unit townhome strip was developed. The site is within close proximity to the following synergistic uses: Transit (Mountain Line main hub - labeled, I-79), Healthcare (Wedgewood Family Practice), Retail (Morgantown Mall, Wesmon Plaza, and Restaurant (many). The median household income witin one mile is $48,880. According WVDOH s 2011 study, the traffic count is between 16,585 vehicles and 11,333 vehicles per day on Fairmont Road.

3 Aerial Both aerials were shot in August The aerial above was shot facing west and shows surrounding residential and commercial uses. The aerial below was shot facing north and shows the proximity to I-79 and other uses in the Westover area.

4 Tax Map Information, Original Development Plan - West Colony Estates Townhouses The image to the right is the original development plan which called for 30 townhomes. Only six were built in the late 1980 s. The existing townhomes, each individually owned, are 1,400-1,560 square feet. Dan Ryan has been successful with Ridge Point. RP s units are selling for $153,000 (1,300sf) to $198,000 (1,800sf). The image below is Monongalia County s tax identification: Grant District, Tax Map 5B, Parcel 70. The property is outlined in yellow.

5 Access From Fairmont Road On the diagram to the left, the yellow lines mark where the parcel begins. The red lines represent two, 20 right-of-way, access points on each side of West Colony Estates Townhomes. These right-of-ways are the primary access to the property. In the photo above, the primary access road is located on the left side. The roadway to the right, which is currently unnamed, is a private drive where a developer could potentially gain additional access. Snowplowing is currently handled by one gentleman who lives in the neighborhood.

6 Map and Aerial