Chuck Mitchell -- (912) 660-3098 -- direct
MULTI-FAMILY LAND
SUBJECT PROPERTY
LOCATION
INDEPENDENCE APARTMENT SITE
Off 15th Street in the Independence PUD in Hinesville, GA just outside Ft. Stewart
PARCEL SIZES: ±16.461 net acres ZONING:
The Columns Apt. Homes
PUD – M/F, which provides for up to 15 d.u.’s per acre.
PARCEL INFORMATION:
The parcel is located in the highly desirable Independence PUD.
Independence is a 2,700-acre master-planned community located just outside Gate 7 to Fort Stewart in Hinesville, GA. The community contemplates a wide mix of uses including 6,600 residential units and almost 1.8 million square feet of commercial space along with over 500 acres of recreational space.
Independence is located just 3.5 miles as the crow flies due west of downtown Hinesville. Access is via Highways 119/196 to 15th Street. The community is immediately proximate to Fort Stewart, home of the 3rd Infantry Division and the Army’s premier power projection force on the East Coast. Combined with Hunter Army Airfield in Savannah, the two installations represent the largest industry in the region with an economic impact of $5 Billion. More than 31,500 military personnel along with 5,000 civilians and 1,200 contractors work at the base.
All wetlands have been delineated and approved by the U. S. Army Corps of Engineers. All utilities are to each site; road access will need to be constructed.
This location provides excellent access to existing shopping in Hinesville (just 6.8 miles via public roads and only 4.5 miles through the Fort). Richmond Hill is 27 miles, the Savannah/Hilton Head International Airport is 43 miles, and downtown Savannah is 45 miles from the sites.
Recent studies of the area apartment market show prevailing rents ranging between $1,200 and $1,300. This equates to $1.11 to $1.39 per square foot.
Previous market studies indicate the depth of the market is for 1,200 to 2,000 apartment units. The currently existing supply is 500 units.
The rental market is very proven in Hinesville with 43% of all housing units renter occupied.
PRICING: $1,117,700, which at 15 d.u.’s per acre equates to $4,500/unit.
±16.5 Net Acres
Place Apartments
The Mouchet & Mitchell Group at Judge Realty Chuck Mitchell (912) 660-3098 (cell)
INDEPENDENCE APARTMENT SITE
347 Abercorn Street, Savannah, GA 31401
(912) 236-1000 ext. 7009 (office)
(912) 236-1000
[email protected] This sales sheet is believed to be accurate. However, as the information has been provided in part by Third Parties, we are not responsible for mis-statements of facts, errors, omissions, prior sale, change of price, or withdrawal from the market without notice. Judge Realty is the exclusive listing agent for this property. This sheet was last revised on: June 18, 2013
INDEPENDENCE REGIONAL LOCATOR
Data believed to be accurate but not guaranteed as provided by third parties. Judge Realty, LLC is the exclusive listing agent for this property.
RINCON
SITE DEMOGRAPHICS ATTRIBUTE
10 MILES
20 MILES
30 MILES
2017 Population
71,736
105,224
248,774
2017 Households
24,841
37,369
89,967
Ave. HH Income
$54,067
$53,974
$62,110
2017 Median Age
27.6
29.8
33.3
2017 % Renter Occupied Units
41.8
36.2
29.9
EXIT 109
EXIT 106
EXIT 104
POOLER
EXIT 102
Source: ESRI 2013 Data EXIT 99
SAVANNAH
WILMNGTON EXIT 94
TYBEE ISLAND ISLAND EXIT 90
RICHMOND EXIT 87
APARTMENT SITES
HILL
HINESVILLE
20 MILES
10 MILES
30 MILES
40 MILES
EXIT 76
MIDWAY EXIT 76
MOUCHET & MITCHELL GROUP THE
The Mouchet & Mitchell Group of Judge Realty is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.
APARTMENT SITE ±16.461 ACRES
INDEPENDENCE MASTER PLAN
Data believed to be accurate but not guaranteed as provided by third parties. This plan is of: April 15, 2013.
FT. STEWART 15TH STREET GATE
The Columns Apt. Homes
±16.461 Net Upland Acres
Wetlands
Place Apartments
INDEPENDENCE APARTMENT SITE
Data believed to be accurate but not guaranteed as provided by third parties. Judge Realty, LLC is the exclusive listing agent for this property.
THE COLUMNS APARTMENT HOMES
±16.461 acres Wetlands
±16.461 acres Wetlands
Wetlands
MOUCHET & MITCHELL GROUP THE
The Mouchet & Mitchell Group of Judge Realty is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.
MOUCHET & MITCHELL GROUP THE
The Mouchet & Mitchell Group of Judge Realty is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.
The city of Hinesville is the seat of Liberty County. Located forty miles southwest of Savannah, the city is adjacent to Fort Stewart, making it home to many soldiers from the base. The City of Hinesville was established in 1777 and has a long history dating through the Civil War and Great Depression. Hinesville's economy took off in the 1930s after the Depression, so there was much to celebrate at the town's centennial in 1937. But nothing could prepare Hinesville, which had just hired its first policemen, for the events of 1940. That year a huge tract of land (280,000 acres) adjacent to Hinesville was selected to be an antiaircraft training site for the U.S. military. The new base was named Camp Stewart in honor of Liberty County's Daniel Stewart, the great-great-grandfather of Eleanor Roosevelt, who was the wife of U.S president Franklin D. Roosevelt. People began flocking to Hinesville to help build the base and to make their fortune from the influx of soldiers. Many businesses were temporary, makeshift constructions along two roads, called "Boomtown" and "Zoomtown," that led from Camp Stewart to Hinesville. The roads were filled with juke joints, gambling houses, fast-food stores, bars, novelty stores, and two United Service Organizations (USO) clubs (one white, one black). By 1944 Camp Stewart teemed with 55,000 soldiers in the buildup of troops before the D-Day invasion. The city rushed to
MOUCHET & MITCHELL GROUP THE
improve water, sewerage, garbage disposal, and streets. Still, dysentery, tuberculosis, and diphtheria were on the rise. Taxi and bus services were created. A movie theater was built, and the Methodist church was converted into a grocery store. Hinesville had no traffic lights, so military police had to direct traffic. After World War II ended in 1945, Camp Stewart was deactivated, and Hinesville deflated. However, subsequent international conflicts made the base indispensable. In 1956 the base was designated a fort, and in 1974 Fort Stewart's permanence was solidified by the arrival of the Twenty-fourth Infantry Division (inactivated in 1996) and the Seventy-fifth Infantry Regiment (Ranger). Since the 1970s, Hinesville has grown from a town of around 4,000 to a city of 33,437, according to the 2010 U.S. census. The city's growth is fueled by that of Fort Stewart, and the fates of the two communities are inextricably tied, as the soldiers rely on the city's service and retail industry. Fort Stewart and Hunter Army Air Field combine to create THE largest industry in the entire region with an economic impact of $4.99 Billion Dollars
Fort Stewart and Hunter Army Airfield are the home of the 3rd Infantry Division, and combine to be the Army's Premier Power Projection Platform on the Atlantic Coast. It is the largest, most effective and efficient armor training base east of the Mississippi, covering 280,000 acres including parts of Liberty, Long, Tattnall, Evans and Bryan counties in southeast Georgia. Hunter Army Airfield is home to the Army's longest runway on the east coast (11,375 feet) and the Truscott Air Deployment Terminal. Together these assets are capable of deploying units such as the heavy, armored forces of the 3rd Infantry Division or the elite light fighters of the 1st Battalion, 75th Ranger Regiment This is generated by 31,353 military personnel and a payroll of $1.3 Billion as well as 4,979 civilians earning $213,000,000 and 1,241 contractors with $125,000,000 in contract work. The military provides their personnel and their families stationed at Fort Stewart with an allowance to help them afford housing off post. This is known as a BAH or Basic Allowance for Housing. The allowance can be used for either rentals or home ownership. The rates are as high as $1,974 for Officers but for the bulk of personnel stationed at Fort Stewart who are looking for housing (E-4 and under) the rate is $1,134/month with a dependent.
The Mouchet & Mitchell Group of Judge Realty is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.
Independence is a 2,700-acre master-planned community located in Hinesville, GA just outside one of the main gates to Fort Stewart. Total permitted density is 5,176 homes, apartments, townhomes, and condos. The multi-family sites which are the subject of this offering have been entitled for up to 16 dwelling units per acre. Independence is required to pay a $1,000/ERU infrastructure fee to the City of Hinesville. There is also a $2,640/ERU sewer impact fee and a $700/ERU water impact fee for a total water & sewer impact fee of $4,430/ERU. Recent studies of the area apartment market show prevailing rents ranging between $1,200 and $1,300. This equates to $1.11 to $1.39 per square foot. Previous market studies indicate the depth of the market is for 1,200 to 2,000 apartment units. The currently existing supply is 500 units. A complete traffic study has been developed Independence. 15th Street (the main road serving designed to handle in excess of 15,000 VPD. Main throughout Independence have been designed between 5,000 and 15,000 VPD.
for all of the PUD) is spine roads to handle
Three major builders presently dominate the market in Independence: Mungo Homes – 31 homes in past 12 months D. R. Horton – 11 homes in past 12 months Slade Sikes – 9 homes in past 12 months.
SELECTED AREA 2010 DEMOGRAPHICS Demographic Factor
Hinesville
Liberty County
Total Population
52,662
63,453
Total Housing Units
21,513
26,731
9,276
10,137
43%
38%
26,156
28,535
Total Renter Occupied % Renter Occupied Population in Renter Occupied Source: U. S. Census
Within the Independence project there are presently 3 multifamily projects:
The Columns – 222 Class A apartments with rents ranging from $800 to $1,200 – 98% leased according to web site.
Governors Quarters permitted for 305 townhomes and containing 132 townhomes in the first phase.
The Place Apartments with 264 presently completed apartments. Rents range from $600 to $1,800.
Liberty County had an estimated 65,471 people in 2012 living in an estimated 27,323 homes. Yet in the past 12 months, 163 new homes were sold in the county – 31 of those in Independence.
MOUCHET & MITCHELL GROUP THE
The Mouchet & Mitchell Group of Judge Realty is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.
MOUCHET & MITCHELL GROUP THE
The Mouchet & Mitchell Group of Judge Realty is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.