When Comparing Potential Land Purchases, Look Beyond the Land Price
When comparing competing sites for land acquisition, it is very important to analyze all of the site specific costs to make a true comparison. The price per square foot for the real estate is just part of the picture. It’s also essential to consider the project-specific costs so the sites can be compared side by side.
There are many different “hidden” costs that can apply to a site, but here are some of the most common.
Get The Skinny on Narrow Streets
I’ve long advocated for skinny local road standards and implementing “road diets” for existing streets. While often controversial, the idea of narrow streets just makes sense. Streets largely determine the “feel” and livability of our neighborhoods. Narrow streets increase the sense of connection between those living in a community, decrease travel speeds, increase safety, decrease construction and long-term O&M costs, and dramatically reduce environmental impacts (for both stormwater and the “heat island” effect of asphalt). And to me, neighborhoods built around narrow street sections just feel right.
The Value of Master Planning
- Bryan Cole
- Land Development, Urban Parks & Recreation, Residential Land Development, Commercial/Industrial Land Development
Are you contemplating expansion or new development of your institution or facility? This can be a complicated effort and I’d like to share with you a few benefits of undertaking a master planning process as an invaluable step in making your growth a reality and less of a headache.
A master plan is more than just a pretty picture. It is like a roadmap, or GPS, charting the course from the current status of your facility, and routing your aspirations and needs so that you arrive at your final location successfully. The following are 4 tips that are just a few planning tools I suggest to help guide you through the journey.
Tip #1: Confirm your FInal Destination - Setting Yourself Up for Success
What are Entitlements?
Entitlements for a commercial or industrial development include Site Plan and SEPA (State Environmental Policy Act) approvals from the agency that regulates the property. Typical site plans will show the proposed building square footage, parking and drive aisles for both cars and trucks, storm drainage facilities, landscape, buffers and setbacks. In some jurisdictions, SEPA may require a preliminary fill and grade plan. These approvals also require consultant studies, such as, traffic studies, storm drainage analysis and wetlands.
Site plan and SEPA approvals can be completed for an assumed maximum build-out of the site and the addendums can be approved by the agency issuing the original approvals.
Addendums allow the property owner to tailor existing entitlements to meet the needs of a development proposal when the opportunity arises. This saves time and allows more predictability in the process.
What Benefits do Entitlements Provide a Buyer or Tenant?
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