Land Development Feasibility Analysis

Every land development project begins in the same place with the land

. Without the right piece of property, a developer cannot bring the development concept to life. Once an initial concept has been decided upon, its imperative to have a thorough knowledge of all of the features of a particular piece of property in order to determine if it is a suitable site for development.

Every developer benefits from a thorough analysis of the viability of a project before beginning. Particularly if a developer is looking for financing, investors or lenders will generally require a market feasibility study. The feasibility study involves analysis of a number of different factors that affect the project. The first factor is analyzing supply versus demand within the market. Developers and lenders will look for gaps between supply and demand in the proposed land use sector or industry is there a need for office buildings, shopping centers, family or senior housing in the proposed community? Further analysis is needed to determine if the gap between demand and supply can be turned into an opportunity.

The next key factor in land development feasibility is the site. Site research should be conducted to determine and prioritize all potential locations for the proposed land use. The configuration and size of each parcel needs to be taken into consideration, as well as location within the community. Aerial photography is a valuable tool in assessing potential properties. Quality aerial photos of the proposed sites will give an accurate and comprehensive view of the sites, clearly detailing location, access, traffic flow, adjacent properties, and geographic considerations.

Aerial photography can provide detail of the sites feasibility based on features such as surface materials, drainage, and potentially hazardous conditions. Aerial photography companies such as Desert View Aerial Photography in Arizona can provide detailed aerial photos of prospective land development sites quickly and economically to speed the decision making process. Aerial photographs can provide a complete aerial visual summary of a project to clearly show the benefits and features of the proposed project.

In many municipalities, developers are required to complete a feasibility study before necessary permits will be approved. Once the best site has been selected, project considerations such as operating and development need to be analyzed for feasibility. Costs for development need to be determined and financial requirements established. A project timetable needs to be created so that the project is completed within a suitable time frame.

Completing a land development feasibility study requires gathering a significant amount of data about the planned project and careful analysis of the data to determine whether the project is economically sound and will benefit the community.

by: Desert View Aerial Photography

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