Past Developments:
In 2014, Alan Development built a brand new 59,000 square foot three building
multi-family apartment home community in South Tampa, Florida.
       We owned this one 100% in its entirety with no other investors or partners.

We started assembling the land starting in year 2001.   It was series of 6 contiguous residential lots.  We had them re-zoned for a higher density use.   This process took many years and many headaches but after it was approved we went forward with our pursuit of building  a large apartment home community. 

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We secured the loan with a HUD backed guarantee.   We hired an architect, builder, civil engineer and began the building process.   It took a couple of years and many more headaches, but we finally got her built.

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The apartment home community turned out very well.  
We cash flowed nicely, especially since had secured a loan at  3.8% at a 40 year amortization.  That was definitely a dream deal on financing.

Later on we made the decision to personally  move out of Florida to Utah.

We felt that it was also a good time to sell our apartment home community in favor of a commercial plaza.   Retail strip plazas our our specialty and that is what we know best.

In 2020, we decided to put Adagio on the market and sold it for one of the
highest prices ever at that time per square foot for apartment homes
that Tampa had ever seen.  We did a 1031 exchange
and bought our Mesa, Arizona Plaza with the proceeds.

Adagio is the largest scale project that we have ever done from the ground up. 
We absolutely  learned a lot from this and if we take on another like it,

we will do even better in the future.

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