Our land development clients often ask, “How do I determine go/no go on a property?” We spoke with our Charlotte Regional Leader Collin Brock and Senior Landscape Architect Stephanie Holland to learn the ins and outs of navigating this crucial first step in project development.
Identifying constraints
Finding the right property is a major hurdle for land developers. With so many factors to consider, it can be a challenge to determine whether or not to move forward with an identified site.
The first step is to clarify the project’s intent. By analyzing how the ideal site would be used, land development teams can start narrowing down options based on property constraints. Engineers and landscape architects use geographic information system (GIS) software to master plan the site and examine existing constraints, establishing a buildable area for proposed project elements.
If the property passes that first hurdle, additional due diligence is required. Consultants do extensive research into any potential red flags or fatal flaws for the client’s vision. The goal is to identify negative impacts that could result in significant costs to the overall project budget.
Some of the most common roadblocks in determining site feasibility are:
- Zoning: If a site isn’t zoned for the project’s intended purpose, it can be a significant hurdle. While rezonings are possible, they can extend a development’s timeline and come with inherent risks.
- Land costs: Understanding how much programming and infrastructure can realistically fit on a property will inform whether the land’s price is worth the investment. Knowing if earthwork can balance, or if utilities will need to be extended can help a proforma pencil out.
- Transportation: Often the developer is required to cover the cost to improve roadways and other infrastructure. Connecting new roads into existing systems can be complex and expensive, but often worth the investment.
“Due diligence is critical. Missing even a small detail can be extremely costly.We don’t often say that a site won’t work; rather, we show what a site can provide. Land development is high risk, high reward—understanding all the details of a decision upfront minimizes future headaches.”
Collin Brock, Charlotte Regional Leader
Finding solutions
With all the information on the table, the client must determine their go/no go on the property. Especially for saturated markets with limited land available, weighing the pros and cons isn’t always a straightforward decision.
Partnering with a trusted team helps alleviate some of the inherent risks of land development and navigate a path forward, working through important questions such as:
- Will the property recoup investment costs and make a profit?
- How do site limitations impact budget and timeline?
- Are there permitting or zoning regulation constraints?
“What I enjoy about the due diligence process is finding tangible issues and working through them. A lot of my design work is open ended, therefore helping people determine how to invest their resources by studying specific sites is fulfilling.”
Stephanie Holland, Senior Landscape Architect
Work with our Land Development experts
V3 is always committed to your vision, going above and beyond to understand your project’s market analysis, construction costs, zoning regulations, and infrastructure concerns, among others parameters. We are one of the few firms to enhance your due diligence process using SITEOPS, an advanced 3D site-mapping tool that offers even more insight into how a site can best be used.
Our goal is to equip you with the necessary data to make smart, informed choices so you can feel confident in your investment; connect with our team to learn more.