Land Feasibility

Basic Feasibility Study on Land

Undertaking an initial feasibility analysis on land is vital to ascertain if the property aligns with your envisioned project or purpose. Here's a step-by-step breakdown of how to approach this foundational feasibility evaluation:

Project Initiation and Data Gathering

1.1 Coordination and Preliminary Assessment

  • Collaborate with the Client, City/ County Staff, and Utility Providers to define project parameters, constraints, and land suitability.
  • Evaluate project feasibility and initial development criteria.

1.2 Acquisition of Project Documentation

  • Obtain essential documentation, including easements, zoning regulations, and data on existing utilities.
  • Conduct a preliminary analysis of neighboring properties and developments to identify potential impacts on the project.

Preliminary Site Analysis and Planning

2.1 Site Viability Evaluation

  • Engage in a comprehensive assessment of land viability and compile technical data specific to the property.
  • Examine utility accessibility, zoning constraints, and environmental considerations.

Due Diligence, Regulatory Compliance, and Risk Assessment

3.1 Comprehensive Due Diligence Report

  • Deliver a detailed Due Diligence Report to the client, offering a summarized overview of findings.
  • Address issues related to land compatibility, challenges, and potential constraints.

3.2 Regulatory Conformity and Zoning Assessment

  • Review local zoning codes and regulatory frameworks to ensure alignment with any proposed development.
  • Identify any requisites for zoning variances, special permits, or compliance with building restrictions.

3.3 Risk Identification and Evaluation

  • Recognize and assess potential risks, uncertainties, or external factors that may impact the project's progress.
  • Determine the necessity for easements or land dedications, including areas to remain undeveloped.

Detailed Feasibility Study for Land Development

A thorough feasibility study for land development serves as an all-encompassing evaluation of a property's developmental prospects. This study scrutinizes a broad array of elements, from market analysis and technical considerations to financial forecasts, regulatory compliance, planning concepts, consultations with approval agencies, and risk evaluations. Below is an elaborate breakdown of the usual components incorporated into this type of study:

Project Initiation and Documentation Procurement

1.1 Coordination and Initial Assessment

  • Coordinate with the Client, City/ County Staff and Utility providers to establish project parameters, constraints, and land suitability. Evaluate project viability and initial design requirements.

1.2 Documentation Procurement

  • Procure essential documentation, including easements, as-built plans, zoning regulations, and existing utilities data.
  • Basic study of neighboring properties and developments for potential impacts on the project.

Civil Engineer Engagement and Preliminary Planning

2.1 Preliminary Site Analysis

  • Engage a civil engineer to assess land viability and gather technical data for the property.
  • Review topography, utility access, zoning regulations, and environmental considerations.

2.2 Concept Planning

  • Collaborate with the civil engineer to create a basic concept plan that aligns with the client's vision and incorporates initial property understanding.
  • Use the concept plan for discussions with City/ County officials to obtain their initial feedback.

2.3 Predevelopment Meeting

  • Schedule a predevelopment meeting with City/ County officials to gain insights into the city's perspective on the project.
  • Seek clarification on any early concerns or requirements from the authorities.

Due Diligence and Project Evaluation

3.1 Due Diligence Report

  • Provide the client with a comprehensive Due Diligence Report and a summary of findings.
  • Include assessments of land compatibility, challenges, and constraints.

3.2 Preliminary OPCC

  • Offer an Engineer’s Opinion of Probable Cost for (1) client-approved concept plan, prior to proceeding with design engineering for necessary public infrastructure.
  • Enable the client to make informed decisions based on anticipated project costs.

3.3 Zoning and Regulatory Compliance

  • Review local zoning codes and regulations to ensure alignment with the proposed multifamily development.
  • Identify potential needs for zoning variances or special permits and assess building restrictions.

3.4 Risk Assessment

  • Identify and assess potential risks and uncertainties that may affect the project.
  • Determine any requirements for easements or land dedications, including areas to be left undeveloped.