$22M Residential Redevelopment Developer’s Estimate
Developer
Horace Bennet
State
Florida
City
Eustis
Budget
$22 Million
Development Decisions
2025
Size
Above 600,000 sq. ft.
Sector
Public Housing, Residential Redevelopment
About Development Project
This project involves replacing existing public low density residential structures with a new affordable housing development, supported by upgraded site infrastructure and improved community amenities. The work includes clearing the existing homes, rebuilding driveways and utility connections, adjusting sidewalks to suit the new layout, and constructing a mix of five updated residence types. A small on-site park will be enhanced with a new basketball court and children’s playground while retaining the existing pavilion and seating areas to preserve the neighborhood’s community focused environment.
Our Client’s Challenge
The client is tasked with transforming an aging residential site into a modern, community-driven neighborhood while balancing affordability, constructability, and limited existing infrastructure. They must phase demolition and reconstruction efficiently, integrate new homes into an established utility network, and enhance the small park area without disrupting the surrounding community. Achieving these goals requires accurate planning and coordination to ensure the new housing units, site improvements, and public amenities come together as a cohesive, cost-effective redevelopment that elevates the quality of living for future residents.
Our Approach And Solution
Our approach focused on delivering a precise, clearly structured estimate that supports the client’s redevelopment goals and authority compliance needs. We performed detailed quantity takeoffs for each residence type, demolition scope, and all sitework activities including utilities, driveways, sidewalks, and landscape restoration to ensure every cost component was accurately captured. Existing park features were reviewed for reuse where feasible, while new recreational amenities were priced to meet current construction standards. By validating assumptions with mapping tools and aligning the scope consistently throughout, we provided a complete and transparent cost package that strengthened the client’s ability to confidently present the project to investors, community leaders, and stakeholders as they advance this redevelopment in Florida.
Developer’s feedback
Preparing a feasibility estimate for a redevelopment of this scale is no small task. It requires an open minded approach, careful assumptions, and a deep understanding of the financial risks involved because every decision has a major impact on overall investment and our own liabilities as a developer. The level of detail and clarity you provided helped us rethink critical components of the project and significantly reduce our exposure to potential loss. This estimate has given us the confidence to move forward and present a stronger case to our investors and stakeholders.