Developing commercial real estate can be a complicated process without proper care and planning. For this reason, it’s important that developers see and understand the various components involved before starting out. They’ll need to coordinate with many different individuals along the way, whether that be city planners, engineers or construction crews. Here are four things any commercial site developer should consider.
1. City Planning Codes/Restrictions
Every city is different, so it pays to look over the various rules and restrictions in a certain city before formulating a plan. Are there restrictions on the height of the buildings or on the type of material that can be used? Depending on the surrounding community, there might be codes regarding noise or standards for business operations. All these are important variables to consider.
2. Hiring Contractors
The quality of work on-site will always depend on the quality of workers hired. If you’re looking for construction companies MA that you can trust, make sure to do research on previous projects, read customer reviews, and create relationships so that you can feel confident you’ll hire the right companies for the job.
3. Economic Use of Land
Commercial real estate can be a rewarding investment, but only if the land is being utilized in the best way possible. Developers should take a look at the dimensions of the property from every angle to determine how best to use space. Put another way, it’s best to avoid “dead space,” portions of the property that have no use or function because of the way buildings and roads are aligned.
4. Easements
Often, neighboring properties depend on each other when it comes to things like utilities. That can mean anything from sharing a utility system to simply letting pipes cross property lines. In any case, a new developer should seek out the details and make sure he or she has documentation of an easement. Easements provide legal validation and can stop or prevent future disagreements.
There are still many more aspects to consider regarding commercial site development, but these are some of the main ones. It is a complicated process, but one that can become much easier when the planning is done right.