Cottage Grove

Project Description

Acquisition:

• Cottage Grove was raw land discovered by our LDI A&D team.
• LDI had a vision to bring to market an all-brick single family home community. Cottage Grove is situated in a premier location in Wilmington, NC, within walking distance to Ogden MarketPlace, a 30,000 sq. ft. shopping complex, and only a few miles to area beaches and Mayfaire Town Center shopping.
• This project was funded with a mix of private equity and institutional debt in the form of a traditional A&D loan.

Entitlement & Permitting:

• LDI led the charge on the 7 month process of establishing companies, performing diligence and securing all local approvals to position the horizontal team to move forward with the land’s highest and best use.

Horizontal construction:

• LDI Utilities performed all civil contracting and off-site DOT work to bring pad-ready lots to market.

Vertical Construction:

• Logan Homes constructed one-story low maintenance brick homes in this community. The premium location combined with the lush landscaping and plentiful heritage oaks contributed to the tremendous success of this community.

Sales and Marketing:

• Sales and marketing were handled by the internal builder team combined with support from a national real estate firm, Coldwell Banker SeaCoast Advantage.

Disposition of Asset:

• All single family homes were purchased direct by consumer who now enjoy all that the Cottage Grove lifestyle has to offer.

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