The Villages at Hampton Cove, Alabama
The Village Community at Hampton Cove is being developed on approximately 8.6 acres. The Village site is currently owned and fully entitled representing 8.61 acres. Construction development is scheduled to commence in Q4 2018.
The project development contemplates up to sixty (60) freestanding single residences ranging from 1,500 to 2,400 square feet. In addition, the Village will include a community center representing a clubhouse and related amenities representing 2,800 square feet. Projected sales value per unit average approximately $360,000 or $185 per SF and are supported by the area markets comps
The project development capitalization plan contemplates a conventional debt / equity placement with a senior loan to cost level of 65%. Private equity will be secured to fund 35% of the total project costs.