Finding a property with the right zoning does not always mean your proposed use can simply move forward. Many cities divide land uses into several categories. Some uses are permitted by right, some are prohibited, and others may be allowed only after additional review. That third category is where the Conditional Use Permit, commonly called …
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The easiest property to develop is not always the best investment. The easiest property to develop is not always the best investment. A clean, level site with favorable zoning, good access, adequate utilities, and few development restrictions is attractive to almost everyone. That usually means its advantages are already reflected in the price. More difficult …
Real estate development usually begins with a vision. An owner sees an underused property, vacant site, or existing building and imagines what it could become. The early questions tend to focus on acquisition, design, approvals, financing, and construction. But there is another question that should be considered from the beginning: How do you eventually get …
Continue reading “The Importance of Exit Strategies in Real Estate Development”
When most people think about increasing the value of real estate, they think about construction. They picture renovating a building, adding square footage, or improving curb appeal. While physical improvements certainly add value, one of the most powerful ways to increase a property’s worth often occurs long before construction begins. It happens through entitlements. What …
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When property owners hear the word accessibility, they often picture wheelchair ramps or accessible parking spaces. While those are certainly important, accessibility requirements extend much further. They influence entrances, restrooms, parking, paths of travel, service counters, door hardware, signage, drinking fountains, elevators, and many other aspects of a building. For owners planning a renovation, tenant …
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Property owners often begin a project by asking a simple question: “Can I fit the building I want on this site?” Unfortunately, the answer is often not determined by the building itself. It is determined by parking. Many projects that appear feasible at first glance become impossible—or significantly less profitable—once parking requirements are applied. In …
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