Brush Hollow Road

This development opportunity is situated on a picturesque, wooded lot in the heart of Delaware County, close to Bovina Center. Positioned on a western-facing slope, careful clearing will unveil breathtaking sunset views. Our plan includes constructing a modified Dogtrot Standard with an added loft above the kitchen. The terrain will be terraced to accommodate vegetable gardens and the planting of fruit trees, enhancing the lot's natural beauty and utility.

Acres: 6.1
Total Cost: $650,800*
Primary Use: Personal
Value Created: $178,800*
Standard: Dogtrot
Monthly Revenue: $8,800*
Process: Entitle and Improve
Difficulty: Medium

Timeline

Who is this for?

This is for a family looking to build a home and grow into it. A place that is about planting roots both literally, in the orchard and farm, and emotionally in a memory palace they are building for their family. A place they use sometimes, rent sometimes, that covers its own carrying cost or more. That is a responsibly managed development. Equity is positive from day one, and building wealth over time.

The Location

Located just outside Bovina Center in Delaware County, NY, and encased in the Catskill Mountains, this property offers an outdoor enthusiast's paradise. With its captivating natural scenery, the area is ripe for exploration, from extensive hiking trails through verdant forests to panoramic mountain views. Its rivers and streams invite tranquil fishing, kayaking, and canoeing experiences. The winter season transforms Bovina Center into a wonderland for cross-country skiing and snowshoeing. Additionally, the region's deep-rooted agricultural heritage enriches the experience with farm-to-table dining and farm visits.

The Lot

This wooded lot, located within an established subdivision, sits at the end of a private cul-de-sac. The terrain ascends from the road's end, moving from west to east. The slope is steepest near the western edge, directly off the road, becomes gentler in the middle, and steepens once again towards the eastern side.

The Development

For this development opportunity, we envision a Dogtrot Standard situated at the heart of the lot, where the incline is mildest. Through selective clearing, this placement offers expansive western views and breathtaking sunsets. Our strategy includes gentle terracing of the property to accommodate the driveway construction, and creating designated spaces for gardening and orcharding.

Acquisition

To initiate this project, the lot is available for purchase at $62,000. If you're interested, please contact us, and we'll connect you with our HUTS buyer's broker, who will assist with property due diligence and streamline the closing process for the lot.

Timeline - Acquisition

Eagle View

Site Map - Raw Lot

Pro Forma - Acquisition

Phase 1: Site Planning and Land Improvement

In Phase 1, we lay out the project's vision and begin essential groundwork. At this moment, you are a land developer. This crucial stage entails understanding the land and crafting a strategy balancing finances, time, and function. We value outdoor spaces as much as indoor ones, determining the house's optimal position with design and cost in mind. During this phase, your out-of-pocket expense becomes equity forced into the land, this is crucial for your bank loan down the line since the land acts as the collateral.

Timeline - Phase 1

Site Map - Phase 1

Site Planning

At HUTS, our site planning begins with thoroughly analyzing each lot, examining sunlight patterns, tree coverage and species, topography, natural features, boundaries, and zoning regulations. This comprehensive understanding informs our siting strategy, aimed at amplifying desired experiences, and is customized to both the landscape and client preferences. Our preliminary strategy for development is refined through site visits and client input, ensuring an optimal siting approach.

Siting Strategy

In the site planning phase, we craft a design parti, an initial concept that unifies the project. This process begins with the raw lot's features, from which we develop experiential concepts that integrate the terrain with our design standards and landscaping, optimizing the potential of each site. For Brush Hollow Road, our parti leverages the land's topography to introduce terracing, creating a cohesive flow with the driveway and pathways. The dogtrot, garden, and orchard are designed as distinct experiences within the site. These cleared and leveled terraces will create a moment of arrival as well as frame different views out from the property.

Groundwork Prep

To initiate the construction of the Dogtrot, we'll first pinpoint the central build zone within the lot, construct an access driveway, and set up power. Following this, we'll plan the septic system and determine the well site. Projects on a slope, such as this one can sometimes require more thought in siting and designing the septic. We recommend ensuring your offer is contingent on a perc test and septic design. Removing trees for driveway access and site preparation will be carried out to conserve the forest. Preserving a healthy forest is crucial, allowing for the possibility of additional tree removal later if necessary.

Pro Forma - Phase 1

Phase 2: Your Home

In the second phase, we'll build your home, a modified Dogtrot Standard positioned to maximize views.

Timeline - Phase 2

Site Map - Phase 2

Standard Type: Dogtrot

In this phase, we will construct a Dogtrot Standard, ideal for lots with distinct front and back orientations like this one. The standard will be oriented out towards the views. The design has two equally sized, gable-roofed structures separated into public and private areas, linked by a breezeway that extends to a deck between them. We plan to modify the design by including a loft over the kitchen for an extra sleeping area.

Experience

The completed home will sit elevated on a slope, facing west towards the undulating hills of Delaware County and Bear Mountain. The terraced gardens cascade down the slope, and the switchbacking driveway weaves up towards the house as a sinuous design element tying the project together.

Pro Forma - Phase 2

Summary: Your Completed Property

The finished property will create moments of surprise and delight as you move through the forest to arrive at beautiful vistas. Financially, this project will embody our favorite approach to development, the HUTS approach, where the house is considered both for personal use and as an investment. This forces us to keep everything very practical. You can’t blow your budget out of the water, but you also really care about what the house looks like and how it functions. In our experience, this results in a better house at a cheaper price. The more desirable and thought out the holistic property experience is, the better the house will do on the rental market. This is the type of development that will turn an interesting lot into a magical home.

Site Map - Complete

Want More Details?

See a recording of our webinar about this development opportunity, presented by our CEO, Wayne Congar. In this session, you'll get a more in-depth description of the project, and you'll also find answers to some of your pressing questions. It's an excellent chance to gain insights into our development process and see our approach in action.

See the recording

I am ready to go! Now What?

Leave us your information in the form below and we will reach out, you can also email us at hello@huts.com. We will schedule a time to visit the lot with our HUTS buyers agent for you to walk the lot and feel the magic! Once you purchase the lot we’ll send over our our HUTS scope we can kick off this development opportunity! Let’s do this!

Development Opportunity FAQs

Embarking on the journey of home development can be intricate and we’re sure you have a lot of questions. We've compiled a list of 10 frequently asked questions about our development process.

How do I start?

Fill out the form at the bottom or email us a hello@huts.com. We will set you up with the HUTS buyers agent who helps source and outline these development opportunities. You can schedule a time to walk the property for a comprehensive understanding of the land and the proposed development. Our team will support you from closing through the finished home and beyond.

How will I finance this project?

We’ve seen many different financing approaches depending on our clients financial situations. Typically though, we see a combination of cash upfront and a construction loan to permanent mortgage. HUTS has preferred relationships with local banks in the areas we work since we find they have the best understanding of local development and can therefore offer preferable rates. The upfront cash is to purchase the property, for design and documentation and if possible for initial groundwork. Banks typically require 20-30% of the total cost to minimize their risk. This can be in cash or appraised land value. Ideally, the more you can invest in the land less you have to give the bank in as a downpayment in cash better. The remaining development expenses are covered by a construction loan. We suggest a construction-to-permanent mortgage, a 31-year loan that initially has an interest-only phase during construction. After construction completion and receipt of the occupancy certificate, it converts into a 30-year fixed mortgage. This loan option involves just one set of closing costs and reduces carrying costs during construction, which is vital for clients aiming to cover these costs with short-term rental income, thereby minimizing the duration of expenses without rental income.

Does HUTS offer Financing?

HUTS does not provide financing as we are not a financial institution. However, we have extensive experience in navigating various financing structures for developments and are eager to assist. Our close collaboration with financing partners, who are well-versed in our business model and have a successful history with our clients, ensures expert guidance in this area.

Who will build this development?

We will source a build partner from our contractor network. At HUTS we spend an enormous amount of time building and vetting an extensive network of contractors. Our rolodex is particularly deep in the Catskills, Hudson Valley and Berkshires and we are continually adding new partners. We think a lot about contractor bandwidth in terms of houses per year and execution quality in terms of price per square foot. From the moment a client reaches out to us we are thinking about who will be a good fit to match them with based on who we know to be available with their timing, size and scope of the project and temperamental fit. Building is a team sport and the client contractor relationship is critical for the project's success.

Does HUTS do Design-Build or does it take a Design-Bid-Build approach?

At HUTS we take a hybrid approach that merges the best elements of both design-build and design-bid-build methods. By selecting a contractor early on and engaging in a preconstruction contract, we work collabrativly to arrive at a final construction cost together. In our experience this is by far the most cost effective way to build. Since our houses are repeated products, as opposed to one off prototype designs, we know where pricing should be coming in and the levers that can be pulled in value engineering. This gets us to a financiable, build ready project. This method combines the benefits of both approaches. By bringing a contractor on board early for design and pricing, we gain the efficiency of a design-build firm. Yet, we're not restricted to a specific contractor, which means the competitive pressure of the free market can help lower costs. Many contractors in our network often have experience with several HUTS projects, making them intimately familiar with our detailing and construction techniques.

Where do the rental figures come from?

Our rental estimates are informed by a blend of AirDNA data and local comparables. We set prices that are supported by the market yet avoid participating in a race to the bottom. In the regions we operate, the existing housing stock often falls short. Our distinct design and placemaking landscape strategy results in higher rental rates. Therefore, in our Pro Forma, we set rental rates slightly above the median prices from AirDNA, reflecting our design's value. We maintain a conservative stance on occupancy rates.

Will HUTS be able to support me on the rental side?

We’re working toward better supporting our clients on the rental side. With over 20,000 inquiries for HUTS services, we have tailored our standards and development opportunities to fit the needs of our clients and the market. Although most of our audience may not undertake a HUTS project directly, they are enthusiastic supporters. We aim to offer them opportunities to experience staying in a HUTS property. Efforts are underway to facilitate this more effectively.

How accurate are our construction numbers?

Our figures are estimates, but they are grounded in real numbers coming from current HUTS projects. With over forty active projects in the Hudson Valley, we have a clear understanding of construction costs. Groundwork expenses do differ based on each lot, taking into account factors such as house location, land grade, forest clearing, and more. We assess each lot individually to estimate these costs.

Why do you take phased approach to development?

We are happy to do as much or as little at once as our clients have an appetite for. People live with their properties over time and we like to break it up into chunks they can break up over time. Some of the main reasons we phase our projects are so that we can set a clear and feasible financial strategy to execute these projects. We like to think about the development in terms of what can be done upfront in cash you have on hand and what can happen behind a construction loan.

Can I see other HUTS houses?

HUTS projects are private property, but if you reach out to hello@huts.com we can set you up with a driving tour so that you can see built and in-construction HUTS projects.

*DISCLAIMER: All estimates, including both costs and revenue projections, are based on our research utilizing publicly-available data and our experiences on HUTS service engagements. The pro forma figures are not, in any way, guaranteed and are for illustrative purposes only.

Want to discuss this Development Opportunity with our team?

Fill out the form and we'll be in touch to discuss next steps.

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