Development & Construction

There are three phases of development and Construction of Real Estate Properties.1. Land Acquisition: Buying raw land to build real estate properties. Developers and builders can build a small home, or community with 1000 homes. They can build a condo building, a warehouse, a manufacturing facility, an office building, a shopping mall, etc.2. Subdividing and Development: Developers and builders acquire raw land and then prepare the site for construction. Developers must carefully study zoning and land-use plans to determine what type of development is permissible. During this phase, the developer seeks approval for the proposed project from the local municipality. The developer incurs costs for engineering plans, attorney fees, surveys, and application fees.3. Subdivision Plat Map: Before work can begin, most local governments require that developers submit a subdivision plat map of a new development for review by the applicable government planning board (commission). A subdivision plat map is an engineer’s plan for land use superimposed on a map of the land to be developed. The subdivision plat map indicates the proposed size and location of individual building lots, streets, and public utilities, including water and sewer lines, and other clarifying information.