The McEnery Company and Redmellon Restoration and Development are pleased to bring to market for sale approximately 8 acres of land located at 3285 Hwy. 1 South, Donaldsonville, LA 70346. Redmellon has acquired and obtained approval for re-subdivision. The development plan described herein is offered as one possible development solution. Other development plans may provide superior returns.
Parcel A. Approximately 1.3 Acres. C-1 Zoning. 56,250 Sq Ft Total Lot Size. Existing 1,748.76 s/f 3 Br/2Ba ranch home and 1,127.6 s/f 2 Br/1Ba ranch home. Resubdivision plan Approved. Ideal for workforce housing with transition to traditional multi-family housing at a later date. Site plan is approximate. C-1 zoning allows 0 ft setback development as of right now. 15.2% of purchase price based on s/f.
Parcel B Approximately .71 Acres R-1 Zoning (Existing 18,000 SF warehouse enjoys legal, non-conforming use) 30,820.3125 Sq Ft Total Lot Size Existing 18,000 s/f warehouse. Ideal for “Warehousing”” Opportunity Zone Business. Resubdivision plan approved. 8.3% of Purchase Price based on s/f
Parcel C. Approximately 6.51 Acres. R-1 Zoning. 283,712.72 Sq Ft Total Lot Size Resubdivision plan approved for single-family residential lots including variances for insufficient front and side yard setbacks. Ideal for: • Opportunity Zone single-family rental housing. • Non-Opportunity Zone 9% Low Income Housing Tax Credit project. • Non-Opportunity Zone sale of lots prior to Year 10 76.17% of Purchase Price based on s/f
The 2017 Tax Cuts and Jobs Act established the Opportunity Zone program The aim of this legislation is to increase investment in areas of the country that are economically distressed or are overlooked by investors. The program attracts capital to these designated zones by providing tax incentives to prospective investors if certain conditions are met. Honey Bayou is in Opportunity Zone Census Tract 309 in Ascension Parish.