For years business owners have tried to predict the next “hot” neighborhood to locate their business. More people means more spenders, so following the trends in real estate development are often the key to uncovering exceptional real estate investment opportunities. The hard part, of course, is reading the trends and capitalizing on them before your competition beats you to it. We’re here to help by revealing what trends you need to pay attention to.
Communities that invest in TOD projects tip their hand on where residential and commercial dollars will go. The new transit hubs will become the new real estate development opportunities.
The EB5 visa program was enacted in 1990 as part of the Immigration Act. The law enables foreign nationals to obtain a visa if they invest between $500,000 and $1 million in a construction project that will create at least ten jobs. These projects tend to leverage additional private money and are larger scale, like casinos in Las Vegas, which often lead to ancillary real estate development opportunities.
Developers who take advantage of new market or historic/cultural tax credits are able to build and/or renovate structures in neighborhoods that otherwise would be untouchable. These deals often leverage non-traditional equity raising the viability for success for their project and others that may soon follow.
Learn more about tax credit and other business incentives in Currituck here.
Remember how important it was to be seen with the “In” crowd in high school? Same thing applies in real estate development. Find out what the hip and cool area young people are moving to, and you’ll find investment opportunities along with it. One hint is to follow the breweries and wineries.
See which developers are successfully engaging local and regional governing bodies for their projects. When localities invest public monies, provide easements or ordinance exceptions, or vote approvals for projects, they have a stake in its success. That’s a good sign that there is a larger vision for a neighborhood or region at work.
Business incubators, and other small business resource organizations often set the trend for the next hot neighborhood. Programs like Hatch Norfolk, providing entrepreneurs with mentors, networking events, and online resources, attract new members and funders. These nascent business activities can provide economic and real estate development to neighborhoods that were heretofore forgotten.
Speculating on real estate growth is just that: speculation. But following the sparks of life we list in this post can culminate into an inferno - the perfect fire - that will lead you to the hot neighborhoods of the future. It is there that you will find the real estate development opportunities you seek.
Find out if Currituck County has the ideal available commercial space for your real estate client. Visit us today at ThinkCurrituck.
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