HomeMy WebLinkAbout3 (UB1) Port Arthur, Texas (2)Port Arthur, Texas: A Great Place to Work AND A Great Place to Live. Perspective Is Everything •The current zoning allows a structure to be erected on the property. •The property is currently zoned for single family homes. •With over1,400 feet of frontage along Jimmy Johnson, the developer is already entitled to erect over 25 single family homes. •The access to these homes would be off Jimmy Johnson. Citizens’ Concerns •Development will cause traffic. •There will be a safety issue with access from Jimmy Johnson.•Surrounding home values will decrease. •Home purchased for beautification; any structure on intended property would take away from what is loved most about the residence; will diminish the golf course; golfer slice balls that will hit homes and could cause major injuries to residents. Developer’s Response •There will be a single point of entry off Jimmy Johnson Boulevard. •Surrounding home values are currently lower than the starting asking price for homes in this development. •This development will increase property value. •The buyers can decide for themselves whether to golf balls are a safety concern. Mistaken Assertion: “If y’all change the zoning from…what it already is, they can build anything they want…” •An ordinance is required to establish a Planned Development District. •A Planned Development District has standards that become a part of that Ordinance. •These Standards detail specifically what can and cannot be done with the property. •These standards memorialize the site plan, required minimum square footages, access points, and even landscaping requirements. Nearby Home Values 1.Golfhill Dr. (0.1751 acreage; 62x123; 2,430 living; built 1995) $244,831 2.Golfhill Dr. (0.1722 acreage; 62x121; 2,777 living; built 1995) $261,691 3.Golfhill Dr. (0.1722 acreage; 62x121; 2,384 living; built 1994) $274,589 4.Golfhill Dr. (0.1815 acreage; 67x118; 2,070 living; built 1998) $278,474 5.Golfhill Dr. (0.1638 acreage; 61x117; 2,204 living; built 1999) $250,289 6.Golfhill Dr. (0.1665 acreage; 62x117; 1,914 living; built 2004) $268,745 Property Tax Current Tax Rate of 3.266983 Minimum Sales Price of $349,000 (more likely near $399,000) Property Tax Proceeds of approximately $11,400 per townhome, less any exemptions. Bottom Line: This Development will increase values and generate property tax dollars of well over half a millions dollars. Recent Sales 7711 Golfhill Sold for $315,000 3213 Birchwood Sold for $307,000 The Elephant in the Room There is simply nothing “low income” about this Development. Our estimated development cost is over $31,000,000.00. Project Design Guide Project Design Guide Project Design Guide Townhouse Development •Approximately 1,700 square feet of living space •3 bedrooms •2 and ½ bathrooms •Open Concept •Gated Access •Minimal Yard Maintenance •Homeowners Association to Manage Common Areas •Asking Price $349,000 to $399,000 Summary What You Said You Wanted •Single Family Developments for Sale and/or Multifamily Developments at Market Rent •Financing without governmental assistance. •Generate Tax Dollars. •Help Port Arthur be a place where people want to stay. What We Propose to Provide •Fee Simple Project •$30,000,000 Project •Financing approved with no governmental assistance •Generation of over $500,000 in property tax dollars •Developer with decades of experience who produces a superior product.