REE-4313 Lecture Notes - Lecture 8: Height Restriction Laws, Market Analysis, Construction Loan

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- Project Development
o The process of financing land acquisition with intent of constructing a building,
leasing, managing and eventually selling it
o Developer Challenges
National and local economies
Regulatory environment
Changes in tenant preferences
Competition from other developers
o Key Terms for Site Development
Allowable uses
Minimum lot size
Building setback or building line
Encroachments and right-of-ways
Maximum floor-to-area ratio
Building footprint and envelope
Allowable building height limits
Parking ratio
Impact fees
o Key Development Phases
1. Planning and Initiation
Identify major development issues
Assemble development team
Land use and preliminary building layout
Secure control of the site optional
2. Feasibility
Site evaluation
Market analysis
Secure control of the site
Schematic designs
Preliminary cost estimates
Develop project pro-forma
3. Commitment
Land acquisition/assembly
Permitting/approvals
Environmental documents
Finalize design
Financing package
Finalize development schedule
Leasing commitments
4. Construction
Complete final design and engineering documents
Secure necessary permits and approvals
Prepare bidding package
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