The Bridge To More Real Estate Opportunities

It is easy for a real estate professional, investor, developer, or GC to see the story about ongoing lawsuits from last year's Key Bridge collapse in Maryland and move along to the next story. To me, it is just as easy to miss out on potential opportunities by not following important stories.

 

What does a bridge collapse in Maryland have to do with real estate? 

 

Although a fair and reasonable question, my answer is there are likely to be plenty of opportunities down the road. If you don't get your "foot in the door", the door of opportunity remains closed. Many business located in the collapsed bridge area, whether related to the port or not, were forced to close or remain open but are struggling. Millions of dollars are being spent to refurbish the area along with reopening that bridge.

 

When the Key Bridge reopens, it will significantly increase business and revenue in the surrounding area. If businesses closed, it means that industrial buildings and property may be available NOW for a lower price than it would have been two years ago. Development opportunities, which include restaurants and services, are going to start popping up, and the prices are not likely to drop as the rebuild completes.

 

The nearby Chesapeake Bay Bridge was expected to carry more than 300,000 vehicles over the recent Memorial Day weekend because of the additional traffic from not having the Key Bridge.

 

Meanwhile, the (below linked) update also points out that the Chesapeake Bay Bridge is also vulnerable to risk, and how much infrastructure repair is needed just in Maryland. As this matter becomes more urgent and begins to happen, the results will be plenty of work for General Contractors, while real estate brokers, investors, and developers will want to look at the many opportunities this work will eventually create.

 

You can continue to pass on these stories, worry about what is on your plate right now, and be missing out on your next big profit and project. Or, you can connect with me and explore the possibilities.

 

https://www.cbsnews.com/baltimore/news/key-bridge-lawsuits-maryland-francis-dali-collapse/