|Property Lot Size||Existing Building Area||Approximate Buildable Area||Existing Residential Units||Estimated Units Allowed|
Understanding Buildable Areas and Residential Unit Limitations
Many developers face disappointment when trying to maximize the Floor Area Ratio (FAR) for multifamily projects, as the number of units allowed often falls short of the potential buildable area. It is imperative to understand the specific zoning regulations before investing.
What is the growth potential in Tallahassee’s tract 9.06?
I was excited to learn about the growth potential in Tallahassee’s tract 9.06. According to base zoning, there is a 15X potential for growth in the area, with an existing inventory of 5 million square feet and a potential buildable area of 78 million square feet.
What are the residential unit limitations in Tallahassee’s tract 9.06?
We discovered that the limit on residential units is stricter than the limit on the buildable area. While the buildable area is 15X the existing inventory, the potential for residential units is only 2.8X. There may be 18,000 square feet of buildable area for every unit allowed.