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Fort Drum Update - 8/21/07

O.k, I'm hearin' that there's some deja vu goin' on here. I've only been here a few years, but sources tell me that a development frenzy occurred during the last Fort Drum expansion. Well, we won't think about that, 'cause we're in real estate, and we've got to live in the here and now of real estate. And it is happening here and now!

So, here's the housing scoop: 7,000 soldiers came, half of them with families. The ones without families (ranked E6 or under) have to live on-post. So, the ground-breaking for 92 apts on-post (1- and 2-bedroom) began 7/30/07. 1,300 more (apt) units are planned for on-post housing.

So, what happens to the rest of the 3,500 soldiers? Well, there is more on-post existing housing, of course. And from what I understand, it is pretty nice! We also know that there are many houses for sale in the Watertown and surrounding areas. And there is housing being built, but that housing is largely apt rentals. I say, new, AFFORDABLE single-family HOUSES are what's needed here now.

The following (off-post) apartment units are being built, re-developed, or planned at present: 352 (apt) units on Rte 342; 200 (apt) units on Outer Washington St.; 40 (apt) units in Carthage (801 housing); and 100 fully-funded (apt) units near the Seaway Plaza (new P&C/Kinney Drug Shopping Center) in Pamelia.

The following houses are being built or planned at present: 130 houses at $200k or more; 17 houses in Great Bend; and 300 houses built "here and there" over the last 2 years. There is also a major house development project planned, but it was recently decided that individual lots are to be sold to developers instead of a development project happening at this time.

So, o.k., with all the above in mind, it sure looks like we need houses. Didn't I say that before? New, single-family, affordable houses for our soldiers and their families.

My sources of info have been: Watertown Daily Times, DANC, Water Pump Station, Garr Assoc., some of my sellers, and the Internet. This information changes rapidly and often, so, if you've got more, hey, share it here!

In addition to these 7,000 soldiers, there is rumor of thousands of air force solldiers, Immigration and Border Patrol personnel, and soldiers in Europe being sent stateside permanently. Closed schools have opened to accommodate the many more military children in the area. And I think the boom will continue strong and hard, before it ever thinks about fizzling out. (Of course, there is that little election coming up.)

More to come. As always, questions and comments are welcome!



This post first appeared on Commercial RE $cope, please read the originial post: here

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Fort Drum Update - 8/21/07

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