Airpark homes and hangars

[alpinelakespilot2000]

Trying to plan ahead, I checked yesterday on hangar availability in my area well before I thought I'd need it. Ended up #10 on a waiting list at my local airport with low turnover. While the airport is "hoping" to build some more hangers in the "next 5 years," I'm not holding my breath. Consequently, I'm trying to look at other airports and other options. One option is to lease airport land and build private hangers. Has anyone else gone through this process at other airports? Are there any good reference sources that anyone is aware of that would give me some insight into whether or not this will be feasible in terms of cost to do (either independently or with a couple other interested parties) or red-tape to wade through?

I don't think I'll need a hangar for at least another year, maybe year and a half, but I'm going to be pretty bummed out if I finish and can't find anyplace reasonably close to keep my new plane sheltered!

Steve

[f1rocket]

I researched this topic quite extensively last year. After 4.5 years on my local airport's waiting list (when I owned my RV-6), I finally got a new hangar last year for my Rocket.

Much of it depends on your airport. Check with the airport board and ask the chairman if this is an option. Most lease you the land at a minimal rate for 25 years. Expect to turn over ownership of the hangar at the end of the lease.

My plan was (and still might be) to build a 60 X 60 hangar with doors on both ends with three other tenants. My break even point was about 13 years. Make your own assumptions about rental rates, upkeep, building maintenance, etc.

For most folks, this is not much of a viable option. You need to be able to fund all the upfront costs, hope you keep enough tenants around to pay for it, fix it when things break, and then hand the keys over to the airport at the end of the lease. Most folks either don't stay in one place, or stay in aviation long enough for it to be worthwhile.

If you are considering this, you might want to look at living in an airport community. At lease you'd have a better chance of making it financially viable.

[Bob Martin]

We have a hangar at the county airport.
We built it. 42x42...45,000 7yrs ago.
It belongs to the airport....we don't pay personal property taxes on it.
We lease it for 10.00 per year.
We keep it up. and improve it.
We pay the insurance on it 550.00 per yr.
It can be sublet or sold. The lease that is.
In 25 yrs...we have the option of renting from the County for the going rate.
We fit 3 and sometimes 4 airplanes in it.
one high wing Kolb Slingshot
one Long-ez
two RV-6's
you do the math....one **** of a deal!!!
Maybe it wouldn't look so good if you had a big airplane and only could fit one airplane in it....so the RV's are another way to make flying cheaper. :-)

Some comments:
you have to be able to pay for it upfront....I don't think banks would lend money on a lease.
It is wonderful we get to use it, but pay no pp taxes on it.
The county loves it to. They get to show it as an asset from day one.
Plus we bring $ to the local economy.

I love the idea of living on an Airpark....I hope it is my next move!
I want one like Roberta has........smile
Regards,
Bob Martin
RV-6

[alpinelakespilot2000]

Originally Posted by f1rocket

I researched this topic quite extensively last year. After 4.5 years on my local airport's waiting list (when I owned my RV-6), I finally got a new hangar last year for my Rocket.

So what did you do with your -6 for those 4.5 years, Randy? Leave it outside? I'm not real fired up about that idea but would love to know if others have had to do this and how they minimized the wear and tear of weather.

Steve

[txaviator]

Steve,

Where I live, being number 10 on our list would be something to jump up and down about! I asked out at the airport (GKY) a few weeks ago, and the list had about 65-people waiting, and they tried to tell me that whenever your number is called, you MUST have a flying aircraft to be considered (which I don't agree with, but oh well). And as you mentioned, turnover isn't very high at GKY either. GKY is only about 15-minutes from my house. When I get to that point, I suppose I will choose another option which would be to go up to the same airport that Jay Pratt and numerous other RV-er's are located at (T67). It is about a 45-50 minute drive as opposed to 15-minutes. Or, one other option is a buddy who has a large hangar about 1-hour from my house, up at 52F, where Doug Reeve's is based. This fella has a standing offer to let me rent out a portion of his hangar. When the time comes, it sure would be nice to be closer to home...but as you are finding out, that may not be the case. In the meantime, I'll keep buying Lotto tickets and hope for the best! If I win, I will buy me a place like Roberta's! Then I can live WITH my new plane

[RV7Guy]

Chandler airport in AZ recently built hangars for purchase. Pretty pricey unless you get two or three involved and that adds to the complications.

Personally, airport living is the way to go. I have a place at Stellar airpark in Chandler AZ. I got in at a good time. Very nice to walk out the kitchen door and into the hangar. Unfortunately we don't have any lots left and the only houses for sale are starting at about 1.4 mil. My house has doubled in value in 3 years. Doesn't really mean anything cause I'm not leaving!!! The comraderie is incredible. If you need 3 people to help on something, you get six. Everything has a beer rating system. Goes like this, "yeah we'll help. Looks like a 3 beer job."

Several have thought about building a bank of hangars to lease but the cost has gotten out of hand with the code requirements.

Good luck on your efforts.

Darwin N. Barrie
P19

[alpinelakespilot2000]

Unfortunately, airpark living is not an option unless I buy a couple hundred acres, build a runway, and then build a house--nothing remotely close to me in this regard!

Gary--Where are you on the 65-person waiting list around Arlington? A 10-person waiting list may not sound too bad, but the problem is that the county only has 14 hangars. It doesn't look good unless they build more. Like you, the next best alternative probably going to be about 45 minutes away... I guess I'll keep my fingers crossed and try to build a little slower!

[f1rocket]

Originally Posted by alpinelakespilot2000

So what did you do with your -6 for those 4.5 years, Randy? Leave it outside? I'm not real fired up about that idea but would love to know if others have had to do this and how they minimized the wear and tear of weather.

Steve

I found as many RV buddies I could living in my general area and found someone willing to share a hangar for a year or two. I never had to keep it outside.

[txaviator]

I'd be number 65 on that waiting list

[Jaypratt]

You are # 1 here! When you need the space you are in!