Site plan approval

Two nights ago we received approval for our site plans for our Hudson Storage Garages LLC project.  It will be a large-scale self-storage facility catering to boat and RV storage.  To my knowledge, there is nothing like it in the area.  Most boat and RV storage is shared space within a large pole shed.  Sure there are places around that have larger storage units but they usually don't have a ton of room between buildings to actually pull large trailers in and out.  This should hopefully fulfill the needs out there.  Sure it'll be a bit more expensive than a mini-storage unit but it should still be quite a bit cheaper than other options out there for large-scale storage.  The other options are typically industrial or warehouse space which is typically reserved for business needs (and therefore business budgets). 

The units will be 18' wide by 40' deep or 720 SF.  This space will cost $325/month or $0.45/SF.  Pretty reasonable for a space with 16' ceilings and 12'x14' overhead doors.  This is basically the going rate for mini-storage per square foot so I like to think we'll be competitive. 

I think that mini-storage and storage condos are going a bit too main-stream for me lately.  I'm trying to stick within the storage space but change it up a little.  I'm spending more money to build these units and renting them out for the same price compared to mini-storage but I feel like the long-term needs and future ability to raise rents neutralize these initial negatives.  Not to mention, it's good to have a product that isn't a commodity.  I'm hoping my bet pays off.  Mini-storage is probably a safe bet as new construction is filling up nearly as quickly as it's being built, but I like the idea of having a little different product to offer people.