Renwick lot prices, sale rules approved
BERWICK, La. — Lots in the newest phase of Renwick Subdivision development will cost $4.15 per square foot and will be sold beginning May 30.
Berwick Development District members set the cost and date at a Thursday meeting.
About 70 people have expressed interest in the 33 lots available in the fifth phase of development, according to Carla Loupe of Thorguson Realty in Berwick, which is handling the sales. The lots range in size between just over 10,000 square feet and 17,000 square feet.
The price was chosen from a range of prices determined to be fair market value by appraiser Trent Bigler.
A deposit of $2,000 is required at the time the buy-sell agreement is signed. It must be certified check or bank money order made to Thorguson Realty. The realtor will hold the money in escrow.
Lots will be available for sale May 30, from 8 a.m. to 5 p.m. on a first-come, first-served basis in the Berwick Council meeting room. Potential buyers who cannot attend on this day can obtain a power of attorney from Thorguson Realty after May 1 to allow another person to sign the agreement on their behalf. After May 30, buyers can see the realtor for purchases.
Sales are limited to one or two adjacent lots per family/contractor. A single home must be built on adjacent lots, if purchased. Either way, the minimum living area per home must be 2,000-square-feet. If the buyer decides to sell the second lot, it must first be offered to the Berwick Development District.
Lot owners are required to begin construction no more than four years from the date of the sale with completion in two years. If construction is not started in the timeframe, the district has the right of first refusal to buy the property back at the same price for which it was sold.
If all lots are not sold by Aug. 1, the restriction on the number of lots that can be sold to a single entity will be removed.
The final lot from the first phase of the project, offered for sale in 2000, was sold Thursday, said Gary Beadle, planning and zoning director for the town. Of the 157 lots developed through the first four phases, 23 remain without homes.
Berwick is the only public entity in the state that develops and sells subdivisions, according to Mayor Louis Ratcliff.
According to the district budget adopted Thursday night, Renwick lot sales are expected to bring $1.6 million in to the town over the fiscal year. Roughly $90,000 would be profit, board members said.
For more information about the sale process or to obtain a plat of the lots for sale, call Loupe at 985-384-3700.