Property Developments

Objective: Manage the raw land and entitle it. Entitling is the process by which a certain type and size of project is approved by the appropriate jurisdictions. As the developer, we will manage the entitlement process and secure the necessary permits and create the project build plan.

Timeline: Six months to two years or more, depending upon the approving public agencies and private influences. The entitlement process could include approval through city council and board meetings requiring additional time to be scheduled on the appropriate calendar. Additionally, some jurisdictions may require approval from surrounding neighbors and businesses prior to granting build permits.

Related expenses: Costs incurred while applying for and obtaining necessary approvals will include the developer’s time, overhead, holding costs, attorney fees, engineering fees (soil, traffic, and civil), architectural and design, surveyors, and other related pre-development costs

Potential Risks: Economic and market changes, approval costs, changes in public policies, "politics" within the county boards and city councils, time required for approvals, attainability of proposed approvals, and demographic and demand changes.

Rewards: The increase in value during this stage can be significant and should not only cover the original cost of the land, and all of the costs associated with obtaining the approvals, but also provide a profit to the property owner for taking the risks involved in this land pre-development and entitlement phase.