- Infrastructure planning is vital in residential developments, ensuring roads and services can accommodate new traffic.
- Developers must create a Storm Water Pollution Prevention Plan (SWPPP) to avoid environmental regulatory breaches.
- Amenities increase property value and attract potential buyers, while effective marketing raises development awareness.
- Developers should engage in community outreach and be knowledgeable about local ordinances, zoning laws, land use requirements, and building codes.
Large residential developments can be an excellent opportunity for real estate investors and developers to profit substantially. However, many factors must be considered before starting such a project.
While some aspects of the development may be apparent, others may be overlooked. In this blog, you will learn about the most overlooked aspects of extensive residential developments that you may not have considered.
Infrastructure planning is often overlooked because it is not considered glamorous. Still, it is a crucial aspect of extensive residential developments. Infrastructure planning involves making sure that roads, water, and sewage systems are in place before the development is built. It also ensures that the roads and infrastructure can handle the new development’s traffic and usage.
Storm Water Pollution Prevention Plan (SWPPP)
A stormwater pollution prevention plan (SWPPP) is essential to any extensive residential development. This plan helps ensure that contaminants and pollutants don’t enter into local streams or rivers due to the project.
Without this plan, developers may find themselves on the wrong side of environmental regulations. Employ the help of professionals in stormwater management to make sure that your project is compliant. They can help you develop a SWPPP that meets all of the requirements.
Amenities play a significant role in attracting buyers to a development. Many developers focus on building the main residential structures without considering valuable amenities such as jogging paths, bike paths, and parks. The right amenities can increase the property’s value and make it more desirable to potential buyers.
Marketing is critical for any real estate development, including significant residential developments. But all too often, developers overlook the importance of marketing. Effective marketing serves to get the word out and increase awareness of the development, thereby increasing interest from potential buyers. Developers must use several marketing channels to promote the development to increase the chances of reaching as many people as possible.
Developers may overlook community outreach, assuming that the development will sell itself. Still, it is essential to involve the community in the development. This not only helps build goodwill with the surrounding community but can also help overcome resistance to the development. Engaging with the community allows the development to be a more positive and integral part of people’s lives.
Legal considerations are vital to any construction project, but they are especially crucial in significant residential developments. Developers risk increased legal fees and even lawsuits if they fail to comply with the law. The most important legal factors you need to be knowledgeable about during the construction project include the following four:
Local ordinances and regulations
Local ordinances and regulations must be followed to ensure the development is compliant. Speaking with a lawyer familiar with local laws and regulations is essential before beginning any construction work.
Understanding zoning laws is essential for significant residential developments. Different areas may have different rules concerning how many units can be built in a particular area or what kind of buildings are allowed. Before beginning a project, ensure you understand the zoning laws in the place.
Land use requirements
Land use requirements dictate how land can be used. Developers must consider all applicable restrictions and regulations before building on any ground. It is also essential to consider environmental factors when it comes to land use.
Lastly, all buildings must adhere to building codes. These regulations dictate the materials you can use and the safety features that are required in a building. This means it is essential to be aware of any changes or updates to these codes before beginning construction.
Knowledge of these four legal aspects can help protect yourself and your project from costly legal issues.
The process of developing large residential projects is complex and layered. It extends far beyond simply planning and constructing the buildings. Developers must consider many factors, such as infrastructure planning, stormwater pollution prevention, amenities, marketing, community outreach, and legal aspects.
Being knowledgeable and proactive about these can ensure a successful project that benefits both the developers and the community. Remember these often-overlooked aspects for your next large residential development project to avoid unnecessary complications and ensure a smooth, profitable venture.