Development.  Investment.  Management.

PRINCIPAL PROPERTIES is the developer and asset manager for Principal RV & Self Storage, a modern, first-class RV and climate-controlled self-storage project. The project, which is part of the Scotton Landing development, broke ground in July of 2018 and features 647 units of self storage and RV/vehicle storage within a fully secured 3.16 acre site. PRINCIPAL PROPERTIES acquired the property and conducted extensive due diligence, market research and feasibility analysis to determine the highest and best use for the site. The property was encumbered with several development hurdles including extensive wetlands and environmental constraints; limited access; zoning restrictions; challenging lot configuration and lack of utilities, all of which restricted the development potential of the site. For over a year, PRINCIPAL PROPERTIES collaborated with its development team to overcome each of these challenges and design a viable project. The resulting Principal RV & Self Storage not only preserved all of the existing wetlands, it enhanced the hydrology of the wetlands. The project also added parking, a dog park, open green space, and improved access and circulation to the adjoining Alder Pointe Apartments. Opened in Summer of 2019, PRINCIPAL PROPERTIES was responsible for the following: 

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• Feasibility analysis

• Site planning and project design

• Property acquisition

• Integration of the site into the Scotton Landing and Alder Pointe projects

• Financial analysis and capital budgeting

• Securing all equity and debt funding

• Obtaining all permits and entitlements

• Utility and infrastructure design and construction

• Construction management

• Marketing and branding

• Asset management