In land development, the entitlement process is the legal method of obtaining the necessary approvals for the right to develop property for a desired use. This process is highly dependent on the desired use, if the desired use conforms with the current zoning for the property, the particular jurisdiction(s) the property is subject to and the size of the property.
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Other articles related to "land development, land, development, lands":
... operates AMREP's land development division ... the company purchased 55,000 acres (220 km2) of land just north of Albuquerque, New Mexico, dubbing the new town Rio Rancho, New Mexico ... the company used an aggressive sales approach to reselling the land ...
... expanding the Government's role in the next phase of the development project ... The annexation of land by the city from the RM of Sherwood is being negotiated and the city will pay about $1,500,000 and supply water to the RM for the land segment ... The city initially considered four industrial land options for development Argyle Park - IPSCO lands, Regina Airport, Ross Industrial Park and the Pinkie Road and Trans-Canada Highway areas ...
... HDIL is a listed real estate development company in India, with significant operations in the Mumbai Metropolitan Region ... HDIL's business focuses on Real Estate Development, including construction and development of residential projects and, more recently, commercial and retail projects, Slum Rehabilitation and Development, including ... HDIL has an integrated in-house development team which covers all opment from project identification and inception through construction to completion and sale ...
... Christie owned some land in the Richelieu River valley south of Montreal, and wanted to expand his holdings ... They also leased land on the west side of river from the Baron of Longueuil ... These holdings gave them almost exclusive control over the land holdings around Saint-Jean, which is the northernmost navigable point reachable from Lake Champlain ...
Land development refers to altering the landscape in any number of ways such as:
- changing landforms from a natural or semi-natural state for a purpose such as agriculture or housing
- subdividing real estate into lots, typically for the purpose of building homes
- developing property or changing its purpose, for example by converting an unused factory complex into condominiums
The prudent landowner or developer on any size of project will inevitably want to maximise profits, minimise risk and control his cash-flow. This is a process called Profit Enhancement. This means identifying and developing the best scheme for the local marketplace, whilst satisfying the local planning process. Essentially, Development Analysis puts development prospects, and the development process itself, under the microscope, identifying exactly where enhancements and improvements can be introduced. These improvements aim to align with best design practice, political sensitivities, and the inevitable social requirements of a project, with the overarching objective of increasing land values and profit margins on behalf of the landowner or developer. Development Analysis can add significantly to the value of land and development, and as such is becoming a crucial weapon in the landowners and the developer's armoury. It is an essential step in Kevin A. Lynches (1960) book The Image of the City, and is considered nowadays to be an essential step to realising the value potential of land. The landowner can share in additional planning gain (significant value uplift) via an awareness of the land's development potential. This is done via a residual development appraisal or residual valuation. The residual appraisal calculates the sale value of the end product (the Gross Development Value, or GDV), and hypothetically deducts costs, including planning and construction costs, finance costs and developer's profit. The 'residue', or leftover proportion, represents the land value. Ergo, in maximising the GDV (that which one could build on the land), you concurrently enhance the land value. Furthermore the land value is highly sensitive to issues such as supply and demand (for the end product), build costs, Planning and affordable housing contributions, and alike. Conversely, understanding and enhancing the effect of value 'drivers' will have an equally positive effect. Therefore, understanding the intricacies of the development system, can equate to massive differences in the landowners sale value. If development analysis is left to the developer however, then it will be he, and not the landowner, who will receive all of the betterment.
Famous quotes containing the words development and/or land:
“Information about child development enhances parents capacity to respond appropriately to their children. Informed parents are better equipped to problem-solve, more confident of their decisions, and more likely to respond sensitively to their childrens developmental needs.”
—L. P. Wandersman (20th century)
“The rage for road building is beneficent for America, where vast distance is so main a consideration in our domestic politics and trade, inasmuch as the great political promise of the invention is to hold the Union staunch, whose days already seem numbered by the mere inconvenience of transporting representatives, judges and officers across such tedious distances of land and water.”
—Ralph Waldo Emerson (18031882)