I am part of a family owned real estate development company. We are licensed in real estate and construction. In addition, our son in law is a licensed electrical contractor, and our son does our architectural designs and renderings. We’ve been in business for close to 30 years, and during that time, we have primarily focused on the niche of developing small commercial projects. Our projects have included office buildings, small office parks, office/retail condos, medical/dental buildings and clinics, along with residential subdivisions and multi-family.
Being licensed in real estate and construction gives us a good foundation for development. Aside from that, knowing the local market, economy, etc. helps tremendously. We lived in the same area for decades. We KNEW the local market, housing patterns, schools, etc. All of that helped us to recognize when, and where there was a void in the market, and we’d consider whether or not it was in our niche area, or the direction we were planning on going.
How many times have you noticed a vacant parcel of land and thought about what type of business, building, etc. would be good there? Developers do that too, and then take the next steps to bring that vision to fruition.
Of course, just because we can imagine it doesn’t mean it’s possible! Every community has their own zoning laws that dictate what can or cannot be done on properties in their jurisdiction. In addition, there is parking, landscaping, height, environmental, and other issues that must be considered for each project. Some of these can take considerable work and time to figure out; and that’s why it’s important to have the experience necessary to work through each item. Below is a partial list of the types of things you will need to check into. This is just to give you …read more