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WANOCA COTTAGES
93
Building Quality Cottage Homes for Our Mountain Community
Chris Mriscin
Wanoca Development Group LLC
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OUR COMMUNITY
Preserving the integrity and culture that has made Asheville our home
OUR COMMUNITY
CULTURE
CULTURE
The focus of this business is to provide affordable, quality homes built in the traditional arts and crafts style of our mountain community.
INTEGRITY
WDG has a valuable team controlling all facets of operations: core management, engineering and architecture, contracting, and financial investments and funding. We pledge to provide a fairly priced home that is high in demand for the middle price market.
OUR TEAM
Asheville business owner and entrepreneur
Experience:
Project Managment
New Business Development
Fundraising and Investment
Chris Mriscin, Developer
OUR TEAM
Owner of M. Anderson Engineering PA
Experience:
LEED Projects, Low Impact Development (LID), project management, sustainable development, water quality design.
Mike Anderson, P.E. LEED AP Civil Engineer
Licensed General Contractor
Experience:
Drafting
Custom Home Design
Project Lead
Community development
Mike Sokol, General Contractor
WANOCA COTTAGES
Cottage Style housing development located in trendy Oakley neighborhood
Planned 23 home development on 4.1 acres
WANOCA COTTAGES
Full infrastructure with an attractive entrance, street lamps, curbing, paved road ending in a cul-de-sac, and Asheville city utilities
Buyers will have numerous custom home options to choose from to make each house unique
21 Wanoca Ave.
Asheville, NC 28803
MAP
MARKET COMPARISONS
MARKET COMPARISONS
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Platt
PLATT
BUSINESS STRATEGY
Keys to Success
1. Experienced team proficient in all phases of the development process.
2. All stages of neighborhood development are handled “in house” which reduces overhead costs that can be passed on to the homebuyer.
3. Long term, positive relationships with select sub-contractors that insure quality work that will meet deadlines.
4. In-house real estate sales team so that more revenue stays in the project
PROJECT
TIMELINE
Houses #1 - 4
completed by
December 31, 2018
Houses #5 - 13
completed by
June 1, 2019
PROJECT
TIMELINE
Project and Sales
Complete
by June 1, 2020
Sales begin
Houses #14 - 21
completed by
December 31, 2019
Break Ground
June 1, 2018
PRICING
BASE PURCHASE OPTIONS (for price point listed in 2018)
1,320 ft2 house - $215/sq. ft. = $283,800
1,320 ft2 house with view - $223/sq. ft. = $293,800
1,320 ft2 house with a basement - $223/sq. ft. = $293,800
1,536 ft2 house - $210/sq. ft. = $322,560
1,536 ft2 house with view - $217/sq. ft. = $332,560
1,536 ft2 house with a basement - $217/sq. ft. = $332,560
*There will be a 10% sales price increase each year
FINANCIALS
SALES
FY 1 FY 2 FY 3
1,320 ft2 house $283,800 $312,180 $343,398
1,320 ft2 house with view - $644,360 (2) -
1,320 ft2 house
with a basement - - $3,543,980 (10)
1,536 ft2 house $322,560 $354,816 $390,298
1,536 ft2 house with view - $729,632 (2) -
1,536 ft2 house
with a basement - $365,816 $402,398
Sale of existing house - - $302,500
MODEL $414,498
Total Sales $606,360 $2,042,988 $5,397,072
SALES FORECAST
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Prospectus
Wanoca Cottages is a prospective 23- home pocket
community in the desirable Oakley neighborhood in Asheville, NC
Development costs
Land $460,000
Infrastructure $650,000
Total $1,110,000
Number of lots 23
Cost per lot $48,260
Building costs
Price per square foot 100
Avg. house square footage 1450
Avg. build cost per house $145,000
Lot cost $48,260
Total land and home cost $193,260
Sales costs
Avg. sales price $325,000
Realtor commission at 6% $19,500
Revenue earned $305,500
Profits
Avg. revenue per house $305,500
Less land and home cost $193,260
Avg. net profit per house $112,240
Number of lots 23
ESTIMATED NET PROFIT FOR THE PROJECT $2,581,520