15 Land Selection Checklist for Property Development: Location, Zoning, Utilities and Risk

Checklist for profitable land development selection

1. Location of the land

  • Evaluate proximity to critical infrastructure (roads, highways, public transportation, airports).
  • Assess accessibility to major urban centres and markets.
  • Identify potential for growth and development in the area.
  • Consider neighbourhood characteristics and demographics.

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2. Zoning classification

  • Determine compatibility with intended land use and development plans.
  • Ensure compliance with local zoning regulations and restrictions.
  • Explore possibilities for rezoning if required.

3. Parcel size

  • Verify whether the land size is adequate for the intended development.
  • Consider setbacks, parking requirements, and open space provisions.

4. Current or past uses of the site

  • Investigate the environmental impact due to past or current land uses.
  • Evaluate the potential for contamination and remediation.

5. Financial feasibility

  • Check alignment with the project budget and financial feasibility.
  • Conduct a comparative analysis of land prices in the surrounding area.

6. Characteristics of the site

  • Examine topography, soil conditions, and drainage.
  • Account for natural features like water bodies and vegetation, assessing their impact.
  • Address elevation and flood risk with a thorough assessment.

7. Shape of the property

  • Assess how well the property’s shape suits the desired layout and design.
  • Understand the implications for efficient space utilization and ease of access.

8. Visibility and access to customers

  • Gauge proximity to major roads, intersections, and transportation hubs.
  • Ensure clear sightlines for effective advertising and signage.
  • Assess the ease of entry and exit for customers and visitors.

9. Traffic patterns

  • Study ingress and egress points from the site.
  • Note nearby road and street speed limits.
  • Analyze traffic counts and flow during peak hours.
  • Evaluate the presence and impact of traffic lights, signals, and intersections.

In-depth traffic analysis: Curb and median cuts

  • Examine the availability and placement of curb cuts.
  • Assess accessibility for vehicle entrance and exit.
  • Understand the implications of median cuts on traffic flow and safety.

10. Availability of utilities

  • Determine access to essential utilities such as water, sewer, electricity, and gas.
  • Evaluate the feasibility of connecting to existing utility infrastructure.
  • Consider potential costs associated with utility installation and hookup.

11. Availability of support services

  • Identify nearby availability of emergency services (fire, police, medical).
  • Assess proximity to retail, dining, and other amenities.
  • Consider accessibility to schools, healthcare facilities, and public services.

12. Surrounding land uses

  • Check compatibility with neighbouring properties and land uses.
  • Assess the potential for synergy or conflict with nearby developments.
  • Consider how future developments impact the site’s value and functionality.

13. Environmental considerations

  • Prioritize the preservation of natural habitats and ecosystems.
  • Ensure compliance with environmental regulations and permits.
  • Plan for mitigation of potential negative impacts on the environment.

14. Legal and regulatory factors

  • Ensure adherence to local, state, and federal laws and regulations.
  • Guide the process of navigating permitting and approval procedures.
  • Understand any existing easements, restrictions, or encumbrances on the property.

15. Long-term viability and market trends

  • Analyze current and projected market demand for the proposed development.
  • Anticipate changes in demographics, technology, and economic trends.
  • Evaluate the potential for sustained profitability over the project’s lifecycle.

16. Risk assessment and contingency planning

17. Community and stakeholder considerations

  • Emphasize engagement with the local community and stakeholders.
  • Address concerns, feedback, and input from neighboring residents and businesses.
  • Build positive relationships and goodwill within the community.

18. Feasibility analysis

  • Conduct a holistic evaluation of the site’s potential for successful development.
  • Perform financial analysis, including estimated costs, revenues, and return on investment.
  • Compare the site against alternative options to make informed decisions.

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This comprehensive checklist equips property developers, investors, and realtors with a strategic framework for assessing and selecting land for development.