Project management along the way
Throughout the entire development and construction process, many
professionals are needed to assist in the varied tasks that are critical to a
successful project. The entire team must be focused on the design and its
successful implementation in all facets.
Customized development services available:
Undeveloped real estate can be very valuable in today’s housing market. It is often difficult to initially assess the value of the land because its development potential involves so many different variables. Monrovia real estate management services can be as varied as you want them to be. As a basic guideline, we offer the following services:
Phase One: Site Assessment
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The most basic information regarding undeveloped land can be the most valuable. In a phase one site assessment, we would gather all of the available information to compile a report on the basic development potential.
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Obtain any available survey information, municipal tax and GIS data, and other specific unique characteristics of the property.
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Research any indications of development impediments such as wetlands, ledge, etc.
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Conduct a site walk.
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Analyze local zoning and subdivision control regulations to determine the potential yield of any proposed housing development based on preliminary findings.
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Provide a report summarizing initial findings, identifying potential opportunities and challenges to be considered with further development options.
Phase Two: Assessment
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Work conducted in phase two would build upon all of the information provided in phase one and would include the following:
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Further zoning analysis would include communication with departments within the town or city, including planning and building officials. Potential issues such as rezoning, specific code restrictions, and all fees associated with development should be discussed as early in the process as possible.
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Based on everything secured thus far, a preliminary yield plan would be developed to give an illustration of the potential of a particular property.
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An initial budget would be prepared to illustrate all of the potential costs (both hard and soft) and a preliminary revenue forecast to determine the financial viability of a potential project. While this information is still preliminary in nature, it would assist in further decisions as to the development direction taken.
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All of this information would be compiled into a more detailed phase two report.
Phase Three:
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Further work would involve the more detailed elements of proceeding with a development plan. Phase three would be more of a menu than a set of specific tasks, depending upon how far a development proposal would be taken. This would be discussed in greater detail with the landowner. Some of these tasks would include the following:
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A timeline would be developed illustrating all of the tasks and objectives required to fully permit the land.
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Beginning to assemble the development team as identified in other parts of this website and to secure written proposals from each according to their tasks.
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Further more detailed conversations with municipal staff.
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Completing the initial field survey work necessary to arrive at a “base plan” which will then drive further development plans.