Latest / Ask The Experts / Mixed Use Developments with Rock Realty

Transcript

Mixed Use Developments with Rock Realty · Ask The Experts

• 0:00
  Speaker 1: Eight thirty three, thirteen ten Wiba and ask the Experts.
• 0:05
  Speaker 1: Brought to you this morning by Rockrealty Online Rock Wisconsin
• 0:09
  Speaker 1: dot com. That's r ock Wisconsin dot com. Great website
• 0:13
  Speaker 1: to peruse and check out what's out there.
• 0:16
  Speaker 2: You can do various targeted searches.
• 0:18
  Speaker 1: You can do a broad search. You can just do
• 0:20
  Speaker 1: what I do, which is I just like to page
• 0:23
  Speaker 1: through and just look at all the different homes out there.
• 0:25
  Speaker 1: It's always fun to do again heading over to Rock
• 0:27
  Speaker 1: Wisconsin dot com if you are looking to buy a home.
• 0:30
  Speaker 1: Great website with Rockrealty Wisconsin Buyeragents dot Com. That's Wisconsin
• 0:35
  Speaker 1: Buyeragents dot com. You can get to know the buyer
• 0:39
  Speaker 1: agents at Rockrealty. You can also schedule a phone call
• 0:42
  Speaker 1: little conversation, get to know you conversation with some of
• 0:45
  Speaker 1: the agents at Rockrealty. Again that website Wisconsin Buyeragents dot Com.
• 0:50
  Speaker 1: Joined in studio this morning by Matt he Been with Rockrealty.
• 0:52
  Speaker 1: Matt Didje, here's talking about you this morning.
• 0:54
  Speaker 3: Good morning, Good morning, Yeah, my ears.
• 0:56
  Speaker 1: We rien Yes, wait what yeah, You've got people that
• 1:02
  Speaker 1: don't know Rock Realty. You've got a couple of locations,
• 1:04
  Speaker 1: couple of offices here in south central Wisconsin. Really making
• 1:08
  Speaker 1: a convenient for clients and of course for your team
• 1:12
  Speaker 1: to be able to work out of a couple of
• 1:14
  Speaker 1: different offices, don't.
• 1:15
  Speaker 3: Yeah, we do.
• 1:16
  Speaker 4: We get one in Stoughton, downtown Stoughton, right across some
• 1:19
  Speaker 4: city hall, and then we also opened up an office
• 1:23
  Speaker 4: down in Janesville right on Milton Avenue. I am twenty
• 1:25
  Speaker 4: two Milton Avenue, which.
• 1:27
  Speaker 3: Is when we were talking about this morning on the show,
• 1:29
  Speaker 3: which used to be.
• 1:29
  Speaker 1: It was the original, right that was the original Woodman's.
• 1:32
  Speaker 3: Yeah, the original Woodman's.
• 1:33
  Speaker 4: You kind of found out about it, you know, in
• 1:36
  Speaker 4: the process of purchasing it. And then when we took
• 1:39
  Speaker 4: off the large awning outside, we uncovered the original porcelain
• 1:46
  Speaker 4: sign that said Woodman's and Woodman's ended up contacting us
• 1:50
  Speaker 4: after it started getting a lot of news fair and
• 1:52
  Speaker 4: came out and.
• 1:53
  Speaker 3: Took the sign with them, So it was nice.
• 1:56
  Speaker 1: Yeah, a little piece of memorabilia. Now, does it have
• 1:59
  Speaker 1: the your brick floors like when you when you're inside there,
• 2:02
  Speaker 1: Does it have those Woodman's No?
• 2:05
  Speaker 4: No, luckily not, Yeah, that would have been hard to
• 2:07
  Speaker 4: deal with. It did have some older coolers in the
• 2:10
  Speaker 4: basement where they kept you know, the dairy and stuff
• 2:12
  Speaker 4: back in the day.
• 2:13
  Speaker 1: So I'll just you know what, I'll stop down on
• 2:15
  Speaker 1: was yeah and just get get a tour.
• 2:17
  Speaker 3: That'd be really.
• 2:18
  Speaker 1: Really neat to see. As we talk with Matt Heyman.
• 2:20
  Speaker 1: Of course, Matt comes to with from Rock Realty. I
• 2:22
  Speaker 1: mentioned the website Rock Wisconsin dot com. I haven't mentioned
• 2:24
  Speaker 1: the telephone number six eight six seven three fifty four hundred.
• 2:27
  Speaker 1: That's six eight six seven three fifty four hundred for
• 2:30
  Speaker 1: Rock Realty. And we're going to talk this week about
• 2:33
  Speaker 1: mixed use development, why it's becoming very popular, especially here
• 2:36
  Speaker 1: in Wisconsin, what exactly it is, and with details from
• 2:39
  Speaker 1: Matt on that in just a moment. But first, our
• 2:42
  Speaker 1: featured listing this week. This is not a mixed use development.
• 2:45
  Speaker 1: This is a single family home that is quite spacious
• 2:49
  Speaker 1: and quite modern. Let's talk about this home here here
• 2:53
  Speaker 1: in Madison, Man.
• 2:54
  Speaker 4: Yeah, we've got a listing that's three nine five five
• 2:59
  Speaker 4: Maple Grove Drive, right here on the west side in Madison,
• 3:03
  Speaker 4: listed for three hundred and thirty thousand dollars. It's a
• 3:06
  Speaker 4: it's a condo unit, and yeah, that's it's fairly affordable
• 3:10
  Speaker 4: for Madison. Yeah, and a very nice open concept condo
• 3:14
  Speaker 4: that has great interior finishes and.
• 3:17
  Speaker 3: Just came on the market this week.
• 3:19
  Speaker 1: Pretty spacious as well, fifteen hundred square feet not bad
• 3:22
  Speaker 1: for a condo and not for even a house, but
• 3:24
  Speaker 1: you know, ranch size. It's so really really nice home
• 3:27
  Speaker 1: built in two thousand and four. Get more details online
• 3:29
  Speaker 1: rock Wisconsin dot com. That's rock Wisconsin dot com. Pick
• 3:33
  Speaker 1: up phone call Taylor. Taylor's telephone number six oh eight
• 3:35
  Speaker 1: five one three seven nine six zero. Let Taylor and
• 3:39
  Speaker 1: I'll say, hey, man, I'd love to check that place out,
• 3:41
  Speaker 1: Taylor Dickard. Of course, I's telling number six eight five
• 3:44
  Speaker 1: one three seven nine six zero for that beautiful house
• 3:48
  Speaker 1: on now Monona Grove Drive. We'll talk a little bit
• 3:50
  Speaker 1: more about it later on in the program. This we're
• 3:54
  Speaker 1: going to talk about mixed use and what mixed use
• 3:56
  Speaker 1: developments are and kind of what we're seeing. Kind of
• 3:59
  Speaker 1: a quick old review map before we really get down
• 4:01
  Speaker 1: into into the weeds about why they're so popular. Real
• 4:05
  Speaker 1: quick kind of definition for folks that don't know what
• 4:07
  Speaker 1: exactly is mixed use developments and what are they.
• 4:10
  Speaker 4: Yeah, it is something that's becoming more popular you know,
• 4:13
  Speaker 4: it's a development and more an urban area like Madison
• 4:18
  Speaker 4: or Milwaukee. And these developments combine residential, commercial, and i
• 4:23
  Speaker 4: mean sometimes industrial spaces and a single building or a complex,
• 4:27
  Speaker 4: and it's kind of a way to reshape, you know,
• 4:31
  Speaker 4: how people are living, working, and interacting all in one space.
• 4:34
  Speaker 1: I know, cities really really light. Yeah, there's something nice
• 4:38
  Speaker 1: to be said. Especially get to nine to five are
• 4:40
  Speaker 1: on the lower level and get some nice condos and
• 4:43
  Speaker 1: apartments up above. They are very popular and kind of
• 4:47
  Speaker 1: along those lines, let's talk about this growing trend and
• 4:50
  Speaker 1: what we're seeing and some of those factors that really
• 4:52
  Speaker 1: make mixed use development popular in the state.
• 4:55
  Speaker 4: Yeah, I mean, obviously it takes quite a bit of
• 4:58
  Speaker 4: planning also, you know, a certain amount of size of
• 5:03
  Speaker 4: a lot, you know, for the development purposes. But yeah,
• 5:06
  Speaker 4: they're a combination of different types of spaces and whether
• 5:09
  Speaker 4: like you mentioned, whether or not it's like apartments or
• 5:11
  Speaker 4: condos above and then retail or restaurants below. It's a
• 5:17
  Speaker 4: way to kind of create a small, little niche community
• 5:21
  Speaker 4: where people don't have to go very far to get
• 5:23
  Speaker 4: what they need. Whether or not it's a you know,
• 5:26
  Speaker 4: the restaurant below or maybe a space to go golfing.
• 5:29
  Speaker 4: But yeah, it's a great way to create an attractive
• 5:34
  Speaker 4: place that people want to kind of, you know, live
• 5:37
  Speaker 4: there and not only live there, but have.
• 5:40
  Speaker 3: Their social life as well personally there.
• 5:42
  Speaker 1: I lived in something similar, man, I once lived above
• 5:44
  Speaker 1: a convenience store, and I'll tell you what it was great.
• 5:47
  Speaker 1: I need burritos more than it was great. Obviously, these
• 5:51
  Speaker 1: modern ones are and what they're doing now is absolutely amazing.
• 5:55
  Speaker 1: And sure we think about the ability to kind of
• 5:58
  Speaker 1: have everything, and you see, especially Madison's probably a great
• 6:01
  Speaker 1: example of this, having pretty much everything in one place
• 6:03
  Speaker 1: where you can you can go from your your condo,
• 6:07
  Speaker 1: go down to the lower level. Maybe there's grocery shopping options,
• 6:09
  Speaker 1: maybe there's entertainment options, but work options as well. Workspaces
• 6:14
  Speaker 1: obviously becoming very popular, especially in urban areas, really maximize
• 6:18
  Speaker 1: and use the space.
• 6:19
  Speaker 3: Don't they.
• 6:19
  Speaker 4: Yeah, Yeah, And I'm seeing it all over the place,
• 6:22
  Speaker 4: you know, when I visit Dubuque, I see it Intubuque
• 6:24
  Speaker 4: where they take some of those older, you know, tobacco
• 6:27
  Speaker 4: buildings or manufacturing buildings and they're redeveloping it into spaces
• 6:31
  Speaker 4: and it's a it's a it's a neat way to
• 6:32
  Speaker 4: take either a large building or a large pot of
• 6:35
  Speaker 4: land and create something that's that's a little unique, a
• 6:39
  Speaker 4: little different.
• 6:40
  Speaker 1: Yeah, it's it's such a cool mix when it's when
• 6:42
  Speaker 1: it's done right. Let's talk about here in the city
• 6:44
  Speaker 1: around Madison. I know that there are some there are
• 6:47
  Speaker 1: some some pretty for folks that may be familiar with
• 6:50
  Speaker 1: with the Asthmis area, there are some pretty distinctive ones
• 6:53
  Speaker 1: here in Madison, folks can kind of focus in on
• 6:56
  Speaker 1: if they're kind of wondering what we're talking about.
• 6:58
  Speaker 4: Yeah, yeah, I mean there's a few different locations, you know,
• 7:01
  Speaker 4: some of them that come to mind, or you know
• 7:03
  Speaker 4: the Capital East district. You know, we've seen residential towers
• 7:07
  Speaker 4: combined with office spaces and some retail to create kind
• 7:11
  Speaker 4: of a bustling mixed use environment. The Hub it's an
• 7:15
  Speaker 4: additional mixed use example where you've got university students and
• 7:18
  Speaker 4: professionals can live and work, they can socialize, you know,
• 7:22
  Speaker 4: all within just a little walkable area.
• 7:24
  Speaker 1: So there are obviously for for mixed use developments. Obviously,
• 7:27
  Speaker 1: cities love these because they're maximizing usable space and let's
• 7:33
  Speaker 1: be honest, tax revenue. If they've got a business operating
• 7:35
  Speaker 1: plus render, you know, they're doing well. There's obviously great
• 7:38
  Speaker 1: benefits as well for the residents living in these mix
• 7:41
  Speaker 1: mixed use developments, aren't there.
• 7:43
  Speaker 3: Yeah, I would say, I mean number one. I mean
• 7:45
  Speaker 3: the biggest thing is going to be convenience.
• 7:46
  Speaker 4: Yeah, and there's a lot of people out there that
• 7:49
  Speaker 4: are looking for convenience, right, And part of the reason
• 7:52
  Speaker 4: why a lot of people purchase condos so that they're
• 7:54
  Speaker 4: not going to do a lot of the maintenance and such.
• 7:56
  Speaker 4: But this kind of steps it up a notch right
• 7:58
  Speaker 4: to where you're your entertainment and shopping. It's all, you know,
• 8:02
  Speaker 4: within walking distance sometimes maybe even right below your feet, right,
• 8:06
  Speaker 4: so you know, another item would be a social interaction,
• 8:10
  Speaker 4: you know, kind of can foster a stronger community connections
• 8:14
  Speaker 4: people that you're seeing often, whether that be at the
• 8:17
  Speaker 4: social locations or maybe just you know, in a shared
• 8:21
  Speaker 4: space within the condo unit itself. And it you know,
• 8:24
  Speaker 4: offers flexibility too.
• 8:25
  Speaker 1: So with that it's it's last week after we got
• 8:29
  Speaker 1: off the show, I was on the website rock Wisconsin
• 8:32
  Speaker 1: dot com and I was looking there as a large
• 8:34
  Speaker 1: I won't I won't get the specific there's large hotel
• 8:36
  Speaker 1: here in Madison that actually has a condo in it,
• 8:39
  Speaker 1: and I'm like reading some of the details, come like
• 8:42
  Speaker 1: what is this all about? And they get like room
• 8:45
  Speaker 1: service and stuff. Yeah, can you imagine man living in
• 8:49
  Speaker 1: a place or rooms?
• 8:50
  Speaker 4: Yeah, it's it's it's interesting the different creative ways that
• 8:54
  Speaker 4: real estate and condos people are coming up with neat ideas.
• 8:57
  Speaker 4: I mean, for instance, you can own a condo you know,
• 9:00
  Speaker 4: up in you know, up in the dells, you know,
• 9:04
  Speaker 4: and rent it out or use it yourself, you know,
• 9:07
  Speaker 4: and it's it's right there at the water park. So
• 9:09
  Speaker 4: there's just a lot of options these days, especially when
• 9:11
  Speaker 4: it comes to condos and what you can do and
• 9:13
  Speaker 4: what you can do.
• 9:14
  Speaker 1: Do you see people speaking of it, I think sometimes
• 9:16
  Speaker 1: in obviously the Hub and like the kapitalize kind of
• 9:18
  Speaker 1: that district kind of on a grand scale, we see
• 9:21
  Speaker 1: this on smaller scales as well. Is obviously if you're
• 9:23
  Speaker 1: looking for a condo, that's a great benefit, but also
• 9:25
  Speaker 1: if you're looking for business opportunities, some of these smaller
• 9:30
  Speaker 1: buildings that have maybe some retail or some space on
• 9:33
  Speaker 1: the lower levels. A lot of times you see apartments
• 9:35
  Speaker 1: on the upper levels. Those things can be for relatively
• 9:39
  Speaker 1: affordable and can be a great opportunity to generate some
• 9:43
  Speaker 1: revenue and some income, can't they Yeah.
• 9:45
  Speaker 4: I think it's the mixed use you know, two or
• 9:49
  Speaker 4: three unit buildings. Yeah, yeah, they can be affordable. We
• 9:53
  Speaker 4: have a lot of them in Ederton as well. Certain
• 9:54
  Speaker 4: we're both live and it gives you a nice balance
• 9:58
  Speaker 4: right to where you have a you know, residential one
• 10:01
  Speaker 4: and one portion commercial on the other. So, you know,
• 10:03
  Speaker 4: commercial giving you long term tenants typically residential always there's
• 10:07
  Speaker 4: always a need for residential. So it's a good balance
• 10:11
  Speaker 4: as far as like a risk for an investment, I think,
• 10:13
  Speaker 4: and you know, it also gives people a really cool
• 10:17
  Speaker 4: option for owner occupying and running a business below.
• 10:19
  Speaker 1: That is what that's a great angle and great aspect
• 10:22
  Speaker 1: of that as well. As We talked this morning with
• 10:24
  Speaker 1: Matt Heyman of Rockrealty Online the website Rock Wisconsin dot com.
• 10:28
  Speaker 1: That's Rock R O c K Wisconsin dot com. They're
• 10:31
  Speaker 1: telling number six O eight six seven three fifty four hundred.
• 10:33
  Speaker 1: That's six O eight six seven three fifty four one hundred.
• 10:37
  Speaker 1: We'll talk with Matt about some of the challenges obviously,
• 10:40
  Speaker 1: what do they say everything not everything's fruit and nuts.
• 10:42
  Speaker 1: You know, we think of how perfect it is. There
• 10:44
  Speaker 1: are some challenges, and the great thing about them is
• 10:46
  Speaker 1: a lot of that stuff has you know. And the
• 10:49
  Speaker 1: truth is some of this stuff people are saying, well,
• 10:51
  Speaker 1: this is not necessarily new. You think of even traditional
• 10:54
  Speaker 1: main streets for years operated this way. So a lot
• 10:57
  Speaker 1: of this stuff has been worked out, figured out. We'll
• 10:59
  Speaker 1: talk with Matt about not only some of the challenges considerations,
• 11:02
  Speaker 1: we'll also look forward to some of the benefits of
• 11:05
  Speaker 1: mixed use development here in Wisconsin.
• 11:06
  Speaker 2: We will do that.
• 11:07
  Speaker 3: We'll also get to our featured listing.
• 11:09
  Speaker 2: So much more.
• 11:09
  Speaker 1: As asked the Experts with Rockrealty continues here on thirteen
• 11:12
  Speaker 1: ten Double U I v I eight forty seven thirteen ten,
• 11:16
  Speaker 1: double UiB A and ask the Experts hanging out with
• 11:19
  Speaker 1: Matt Heytman met comes. So it's from Rockrealty. The website
• 11:21
  Speaker 1: Rock Wisconsin dot com. That's Rock Rock Wisconsin dot com.
• 11:26
  Speaker 1: I spend a great deal of my day on the website.
• 11:30
  Speaker 1: I've got to be blunt, Matt, because it's a good
• 11:33
  Speaker 1: it's a good website. Since we talked through the show too,
• 11:36
  Speaker 1: I always like to see what's out there.
• 11:37
  Speaker 2: It's so much fun.
• 11:38
  Speaker 1: Again, even if you're not looking to list, even if
• 11:40
  Speaker 1: you're not looking to buy, it's again just an enjoyable
• 11:42
  Speaker 1: place go. If you are in any of those two
• 11:44
  Speaker 1: categories or both, definitely make sure you head on over
• 11:47
  Speaker 1: to Rock Wisconsin dot com or even better, pick up
• 11:49
  Speaker 1: phone game a call six so eight six seven three
• 11:51
  Speaker 1: fifty four hundred. That's six seven three fifty four hundred.
• 11:54
  Speaker 1: And if you're looking to buy, got a great website
• 11:56
  Speaker 1: Wisconsin buy your Agent dot com that's Wisconsin and buyer.
• 12:00
  Speaker 2: Agent dot com.
• 12:01
  Speaker 1: You can get to know the buyers agents at Rock
• 12:04
  Speaker 1: Realty and again that website Wisconsin Buyeragent dot com. You
• 12:09
  Speaker 1: can also set up a phone call in the conversation
• 12:11
  Speaker 1: and it really helps you you can choose the perfect
• 12:14
  Speaker 1: fit when it comes to working with a buyer's agent
• 12:17
  Speaker 1: at Rock Realty and Matt we had started off talking
• 12:20
  Speaker 1: about some of the great benefits for mixed use developments.
• 12:23
  Speaker 1: There are obviously some some challenges, unique things about these
• 12:27
  Speaker 1: about these type of projects and these type of developments,
• 12:30
  Speaker 1: and some of them involved cities and rules, those types
• 12:33
  Speaker 1: of things that always the fun.
• 12:35
  Speaker 3: Partners call that one of the bigger challenges.
• 12:39
  Speaker 4: You've got to deal with zoning and regulation, you know,
• 12:43
  Speaker 4: local governments, municipalities that you know, I have to have
• 12:48
  Speaker 4: a saying, right, you probably have an intimate knowledge in
• 12:50
  Speaker 4: that yourself, and you know.
• 12:55
  Speaker 2: It's going to require a.
• 12:55
  Speaker 3: Lot of planning. Yeah, a lot of meetings. You know.
• 12:59
  Speaker 4: The nice thing is once you have, you know, a template,
• 13:02
  Speaker 4: once you have something else that's similar in the area,
• 13:05
  Speaker 4: you can kind of reference to that, and if you're
• 13:09
  Speaker 4: trail break blazing, it's it's probably a bit longer process.
• 13:12
  Speaker 4: But like you said, it's becoming more and more popular.
• 13:14
  Speaker 4: We're seeing more and more of it. So I think
• 13:16
  Speaker 4: I think that different municipalities, different local zoning boards and
• 13:19
  Speaker 4: such are are starting to you know, really push these
• 13:23
  Speaker 4: things through a bit quicker. But yeah, that's definitely the
• 13:27
  Speaker 4: first major hurdle, and.
• 13:28
  Speaker 1: There could be things obviously cost considerations also and then
• 13:31
  Speaker 1: also kind of tying everything in Again, a lot of
• 13:34
  Speaker 1: this also has to do with going back to those
• 13:36
  Speaker 1: zoning and regulations, especially if you're in a in an
• 13:39
  Speaker 1: urban area, especially at downtown, certain infrastructure, visuals, those type
• 13:44
  Speaker 1: of things, design styles, cities and others are going to
• 13:48
  Speaker 1: really want to want to make sure that it's being
• 13:50
  Speaker 1: done up to what they consider to be right.
• 13:53
  Speaker 3: Yeah.
• 13:53
  Speaker 4: Yeah, you'll definitely have to have the right partners on board,
• 13:56
  Speaker 4: you know, develop developer that's done this before, general contractor
• 14:01
  Speaker 4: you designer, all those things to to make those tweaks
• 14:05
  Speaker 4: as you're hearing back from the municipalities and what changes
• 14:08
  Speaker 4: they want. Another kind of big important thing is whenever
• 14:13
  Speaker 4: you know a project includes any sort of commercial, it
• 14:15
  Speaker 4: really has to be commercial financing at that point, right.
• 14:18
  Speaker 4: You can't really use a standard residential financing just because
• 14:21
  Speaker 4: there's residential units, and even in the smaller buildings that
• 14:23
  Speaker 4: we were talking about. What a lot of people don't
• 14:26
  Speaker 4: realize is if you've got let's say, two apartments above
• 14:29
  Speaker 4: a commercial unit below, it's very likely that you'll need
• 14:33
  Speaker 4: commercial financing, which is is different terms and residential. So
• 14:36
  Speaker 4: it's good to speak with a lender that specializes in
• 14:38
  Speaker 4: commercial financing.
• 14:39
  Speaker 1: You know, we're gonna have to ask it Wes about
• 14:41
  Speaker 1: next time he's in studio, and you've got you've got
• 14:44
  Speaker 1: experience as well in some of the commercial side of
• 14:47
  Speaker 1: things is and and for people that that that haven't
• 14:51
  Speaker 1: done that for I mean, it's the process is different,
• 14:54
  Speaker 1: but it's there's also some significant similarities as well, isn't
• 14:57
  Speaker 1: there to financing?
• 14:58
  Speaker 3: Yeah, yeah, I mean process is pretty similar.
• 15:02
  Speaker 4: It's just the terms of financing are different, right, So
• 15:05
  Speaker 4: you're still going to have your earnest money, you're still
• 15:06
  Speaker 4: going to have your down payment. But typically commercial loans
• 15:10
  Speaker 4: are a balloon loan, meaning that you've only got three
• 15:13
  Speaker 4: to five years of a fixed rate and you have
• 15:16
  Speaker 4: to refinance again.
• 15:17
  Speaker 3: And that's because you.
• 15:18
  Speaker 4: Know, commercial deals are a bit riskier for banks, so
• 15:20
  Speaker 4: they're only willing to commit to the three or five
• 15:22
  Speaker 4: years and not thirty years like a residential.
• 15:24
  Speaker 2: It's a good conversation to have.
• 15:26
  Speaker 1: And I also talk about working with We're just talking
• 15:29
  Speaker 1: about the website Wisconsin buyeragent dot com. Finding that right
• 15:33
  Speaker 1: agent to work with as well. If you are looking
• 15:36
  Speaker 1: whether it's to buy a condo or you're looking to
• 15:38
  Speaker 1: to maybe invest in a property that maybe qualifies as
• 15:43
  Speaker 1: mixed use, working with that right agent is extremely valuable
• 15:46
  Speaker 1: in that in that regard, isn't it?
• 15:48
  Speaker 3: Yeah?
• 15:48
  Speaker 4: Absolutely, And having the familiarity of knowing you know which
• 15:52
  Speaker 4: financing is going to be required is a big deal.
• 15:55
  Speaker 4: You know, there are some exceptions, so if you were
• 15:59
  Speaker 4: to find and let's say a property that was mixed
• 16:01
  Speaker 4: use that was more than fifty one percent residential and
• 16:05
  Speaker 4: you're going to owner occupy it. Sometimes you can get
• 16:07
  Speaker 4: in with FHA, which is a little known fact really,
• 16:10
  Speaker 4: but for the most part, it's rare to find that
• 16:13
  Speaker 4: because the commercial space is usually the same footprint as
• 16:15
  Speaker 4: the residential.
• 16:16
  Speaker 2: Above fascinating stuff.
• 16:17
  Speaker 1: As we talked this morning with Matt Heytman of Rock
• 16:19
  Speaker 1: Realty Online Rock Wisconsin dot com that's Rock r c
• 16:23
  Speaker 1: K Wisconsin dot com telp number six oh eight six
• 16:26
  Speaker 1: seven three fifty four hundred. That's six oh eight six
• 16:29
  Speaker 1: seven three fifty four hundred. Talked a little bit about
• 16:32
  Speaker 1: the history. We talked a little bit about about some
• 16:34
  Speaker 1: of the challenges that have become that have gotten overcame.
• 16:38
  Speaker 2: What about kind of the.
• 16:38
  Speaker 1: Futures we kind of look towards the future of mixed
• 16:40
  Speaker 1: use development here in Wisconsin. What are we what are
• 16:43
  Speaker 1: we seeing there and what are some of the indicators
• 16:45
  Speaker 1: that are that are popping up.
• 16:48
  Speaker 4: Well, I think I think we're seeing more and more
• 16:50
  Speaker 4: of it, even in the smaller communities.
• 16:52
  Speaker 3: You know, you're seeing.
• 16:55
  Speaker 4: You know, zoning boards, you know, the city Council's kind
• 16:59
  Speaker 4: of pushing for these new types of mixed use. I
• 17:01
  Speaker 4: think they know that it creates a strong community. It
• 17:05
  Speaker 4: creates not only businesses that can provide jobs, but also
• 17:10
  Speaker 4: homes that all under one footprint. So I think we're
• 17:13
  Speaker 4: seeing more of it. I think there's going to continue
• 17:16
  Speaker 4: to be a push forward, especially in revitalizing some of
• 17:18
  Speaker 4: those rundown buildings and rundown areas of the cities that
• 17:22
  Speaker 4: they want to have a redevelopment done.
• 17:24
  Speaker 1: So you here from folks, you imagine some of the
• 17:25
  Speaker 1: rundown things, and I know that a lot of communities
• 17:28
  Speaker 1: have programs and opportunities for you know, certainly if they're
• 17:33
  Speaker 1: on that main strip, that may a lot of times
• 17:36
  Speaker 1: programs for things like helping with with brick and masonry
• 17:40
  Speaker 1: or facade grant so some of things. Do you see
• 17:43
  Speaker 1: people kind of exploring some of those options as well
• 17:45
  Speaker 1: as maybe when they're they're looking at a listing, they're
• 17:48
  Speaker 1: seeing this this mixed use development, They're going, I love
• 17:52
  Speaker 1: what it says, but it maybe wasn't well maintained. Is
• 17:54
  Speaker 1: that's something that that agents can kind of help Folks say, hey, listen,
• 17:57
  Speaker 1: there is this community. Has you know, grant money available
• 18:01
  Speaker 1: for new windows.
• 18:02
  Speaker 2: Or those type of things.
• 18:03
  Speaker 4: Yeah, I think that's a that's an important point, and
• 18:06
  Speaker 4: it depends on the community and what's being offered. But yeah,
• 18:08
  Speaker 4: they'll have you know, low interest rate loans available for modeling.
• 18:12
  Speaker 4: They can have you know, tiff districts, which are like
• 18:15
  Speaker 4: tax advantage districts, you know, different grants like you said,
• 18:18
  Speaker 4: for revitalizing let's say historic buildings. So there's a lot
• 18:22
  Speaker 4: of opportunity for that, and it's you know, going to
• 18:25
  Speaker 4: be a little little less complex probably than putting together
• 18:28
  Speaker 4: a full full on mixed use development.
• 18:31
  Speaker 3: Yeah, a fresh one.
• 18:32
  Speaker 1: As we talked this morning with Matt Hymen of Rock
• 18:34
  Speaker 1: Realty Online Rock Wisconsin dot com. That's r O c
• 18:37
  Speaker 1: K Wisconsin dot com. Don't get if you miss any
• 18:40
  Speaker 1: part today's program or you want to listen back to
• 18:41
  Speaker 1: previous shows, you can always listen to the podcast on
• 18:44
  Speaker 1: the iHeartRadio effortis and on over to w i b
• 18:46
  Speaker 1: A dot com. Speaking of websites, I mentioned Rock Wisconsin
• 18:50
  Speaker 1: dot Com should mention to you as well if you're
• 18:51
  Speaker 1: looking to buy Wisconsin buyer Agent dot com all singular
• 18:55
  Speaker 1: Wisconsin buyer Agent dot com great website get to know
• 18:59
  Speaker 1: the agents at at Rock Realty, and of course you
• 19:01
  Speaker 1: can read their bios.
• 19:02
  Speaker 2: It's no team.
• 19:03
  Speaker 1: You can schedule a conversation as well, right from the
• 19:06
  Speaker 1: website Wisconsin buyer Agent dot com. One of the faces
• 19:09
  Speaker 1: you will see at Wisconsin Buyer Agent, it's it's Taylor's face. Ye,
• 19:12
  Speaker 1: And Taylor Dickert is listening. He's got a beautiful listening
• 19:16
  Speaker 1: right here in the city of Madison. And I'm always
• 19:19
  Speaker 1: surprised to all the stories we hear about how expensive,
• 19:24
  Speaker 1: how affordable.
• 19:26
  Speaker 2: And certainly the ones we featured on.
• 19:28
  Speaker 1: The program, this is a I look at this one.
• 19:31
  Speaker 1: It's a three bedroom, two and a half baths for
• 19:35
  Speaker 1: three hundred and thirty thousand. That's that is a pretty
• 19:37
  Speaker 1: remarkable opportunity right there.
• 19:40
  Speaker 4: Yeah, I agree, and just really modern inside, fantastic flooring,
• 19:45
  Speaker 4: open concept, got a nice little kind of nook to
• 19:51
  Speaker 4: the side with the sink and such. It's just it's
• 19:53
  Speaker 4: it's very attractive. It's a three nine five five maple
• 19:57
  Speaker 4: grow drive in Madison. Beyond the main page there when
• 20:01
  Speaker 4: you go to Rock Wisconsin dot com. And one thing
• 20:04
  Speaker 4: I would mention then too in the searches and such
• 20:06
  Speaker 4: one of the things I do like about the site
• 20:08
  Speaker 4: that we have is the map search. Oh yeah, if
• 20:11
  Speaker 4: you're looking around in the Madison area and you're not
• 20:13
  Speaker 4: sure necessarily that it's gonna be Madison, Fitchburgh, Monona, you
• 20:17
  Speaker 4: can just do a circle.
• 20:19
  Speaker 3: Hey, I'd like to drive this far.
• 20:20
  Speaker 4: Yeah, and they'll just bring up all the listings. So
• 20:22
  Speaker 4: it's a it's a nice thing too.
• 20:24
  Speaker 2: It is.
• 20:24
  Speaker 1: And and but we mentioned Taylor telephone number six, so
• 20:28
  Speaker 1: eight five one three, seven, nine, six to zero. That's
• 20:30
  Speaker 1: five one three seventy nine sixty mentioned of course this
• 20:34
  Speaker 1: house here in Madison on Maple Grove Grove Grove Drive.
• 20:36
  Speaker 1: But you mentioned the website and some of the tools
• 20:39
  Speaker 1: on there. I've got to remind myself as somebody who
• 20:43
  Speaker 1: just likes to browse, so I'm just kind of looking
• 20:45
  Speaker 1: at anything. I got to remind myself there are some
• 20:48
  Speaker 1: amazingly powerful tools on your website Rock Wisconsin dot com.
• 20:53
  Speaker 1: You mentioned drawing the circle of the area. Sure you
• 20:56
  Speaker 1: can really winn it down to some great ideas for
• 21:00
  Speaker 1: or for potential homes right from the website.
• 21:02
  Speaker 4: Yeah, I mean you could whittle it down to school district, right,
• 21:06
  Speaker 4: You're just looking at a particular school district.
• 21:08
  Speaker 3: What'll it down?
• 21:09
  Speaker 4: Obviously by price, you can say, Hey, I'd like to
• 21:13
  Speaker 4: be in this particular subdivision. Even so, Yeah, it's really cool.
• 21:17
  Speaker 4: Again check that I'm in by to the website Rock
• 21:18
  Speaker 4: Wisconsin dot com. Head on over there now Rock Wisconsin
• 21:21
  Speaker 4: dot com. You check out this week's featured listening. It's
• 21:23
  Speaker 4: sorry at thirty nine to fifty five Maple Grove Drive.
• 21:26
  Speaker 4: It's right on the front page of Rock Wisconsin dot com.
• 21:29
  Speaker 4: Interested in doing a showing tailor love talk to you
• 21:31
  Speaker 4: again of stef number six eight five one three, seven
• 21:34
  Speaker 4: nine six zero. That's five one three seventy nine sixty
• 21:37
  Speaker 4: for tailored Taylor. He is with Rockrealteam.
• 21:40
  Speaker 2: Of course.
• 21:40
  Speaker 1: The listing agent on this mentioned the website Rock Wisconsin
• 21:43
  Speaker 1: dot com. The other website, Wisconsin Buyer Agent dot com.
• 21:46
  Speaker 1: Matt time always flies by.
• 21:48
  Speaker 2: We're hanging out.
• 21:48
  Speaker 1: Great to see you and love talking mixed use.
• 21:51
  Speaker 3: It's fun stuff.
• 21:52
  Speaker 1: Oh, you make it interesting, that is for sure. Hey,
• 21:56
  Speaker 1: speaking of keeping things interesting, Vicky McKenna, she comes your
• 21:58
  Speaker 1: way next here thirteen ten
• 22:01
  Speaker 3: W I b A