If you don’t do it correctly, buying and developing land can be a tremendous financial risk. There is a checklist of procedures that every developer should do in order to conduct due diligence. By not performing due diligence in the acquisition of land, you put your financial future and everything you have invested at risk.
Land Use Issues
One of the most important issues facing a land developer in Jacksonville is the issue of land use. There are no shortcuts or ways to cut corners when it comes to handling land use. As South Florida becomes increasingly developed, environmental impact must be among the first considerations for any developer or landowner. Development does not occur in a vacuum since there are nearby properties which will feel the impact of any change in development of a particular parcel.
Environmental issues also have a big impact on how or even if a parcel may be developed. Areas such as coastlines, watersheds, conservation districts, and other sensitive areas may require extensive environmental review before development is approved. This is even true of land that is donated for the express use of the public, as in a park or nature preserve. Even these uses require development of sewage facilities, parking lots and roadways, as well as drainage. Moreover, all development requires a traffic impact report in order to build appropriate infrastructure to handle Automobiles and public transportation.
There is no such thing as no-impact development, and the impact will depend on the physical characteristics of the property itself, as well as use and density. Simply owning a property does not give when the green light to develop the property however one pleases, issues of zoning, and a comprehensive community plan dictate how land may be used. Further easements, encroachments, covenants and environmental restrictions can impose further conditions on potential development. Local governments may also impose an extensive process before approving any subdivision of the property and subsequent development.
Get It Done Right
For all potential developers, or for landowners looking to develop their property with an experienced land developer in Jacksonville, the hiring and retention of an experienced real estate attorney is a vital component of any venture. Real estate attorneys that specialize in development issues can guide you through your project step by step, keeping you in compliance, and advising you of any potential issues with your property.