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05-01-2023 WS
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MV City Council
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Packets
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5/1/2023
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association with declarations, covenants, restrictions and bylaws, <br />Paffrath told the EDC. <br />"I'm in real estate selling houses, and I see a need and an issue with <br />our monetary system and the cost of things, of housing," Paffrath <br />said of why he is creating this development. "The only way to get <br />things affordable is to get really efficient with the size of a <br />structure." <br />He used Ikea sample layouts as an example of compact living <br />space, noting Ikea's sample floor layouts are in areas as small as <br />300 square feet. <br />"I could live there; everything I need is right there — bathroom, <br />kitchen, living space, entry — it's all there. All you need to do is just <br />loft or go a little bit bigger for a bedroom, and that's effectively <br />what this is," he said. <br />As for what inspired him to pursue this development, Paffrath said <br />he was at a real estate convention, and one of the "Realtor of the <br />year" nominees was a man who focused on tiny home communities <br />for veterans. <br />He explained the difference between what that man was doing and <br />what he is doing is that his development is geared more toward the <br />private sector, noting there are a lot of tiny home developments <br />taking place throughout the country. <br />He also said that a key to being successful is finding little pockets of <br />real estate that can be inexpensive enough to keep land costs down, <br />but be close to city infrastructure. <br />"It's going to be difficult to just build them one at a time because of <br />the amount of infrastructure that is required to support them all as <br />a building project," Paffrath said, noting he will likely pre -sell <br />about half the units in order to begin the project. Once started, he <br />hopes to have the development completed in two to four months, <br />he added. <br />Each building and a little bit of property will have its own property <br />identification number that will also be attached to a garage in the <br />bay of garages, he said. The rest of the development will be <br />common areas. <br />
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