Choosing land to develop a real estate project- both residential and commercial is an important step. It can help determine the cost of the land, possible regulations associated with the development, and evaluate the necessary characteristics of the project.
It will further impact how you wish to use the land, particularly if the land is bought for residential purposes. One of the essential things to consider in this situation is zoning.
What Is Zoning?
It refers to municipal and local rules and regulations governing the real estate around the geographic area. The prime aim of the zoning laws is to ensure the health and safety of the residents. For instance, residential neighborhoods are restricted to building manufacturing, oil, and other businesses.
Indeed, these rules can be amended or suspended with changes in environmental and economic factors.
How Does Zoning Work?
During the development of residential (or any other) projects, zoning helps regulate the type of development or operation conducted on the land. It is done for economic development, protecting wildlife and wetlands, controlling population growth in certain areas, and managing noise levels.
It is noteworthy that there are various zoning classifications. Residential classification permits developers to build single-family residences, apartments, condos, suburban homestands, and more.
Nevertheless, before beginning any project, it is critical that developers learn about the land-use rules, ensure environmental due diligence using tools such as Federal Wetlands Mapper and avail necessary permits to avoid conflicts later on. Using a mapper is important when building any property over waterways or wetlands. It will help protect the developer from bearing expensive repair and recovery costs and derailing the development. Here’s when land-use planning comes to the rescue.
Land Use Planning
Land use planning is recommended for the orderly development of a project. As the name suggests, the aim of this planning is to determine how much space should be used for building the property, how much should be left open, and what should be the consistency among different developments. It is to ensure that land resources, especially if the area is near waterways or wetlands, are utilized appropriately without disrupting the ecosystem.
Planning for development occurs at various levels, depending on the project size and resources deployed. It provides the following benefits to the developers:
- Limits the chances of land-use conflicts.
- It offers a framework for development to streamline the process and growth.
- Helps in risk mitigation by anticipating the future condition of the selected area. (It is especially beneficial if the project is being developed near the district ecosystem, such as wetlands)
- Developing the project to have a positive impact on the urban economy.
- Effective use of natural resources along with their conservation of the environment, including protected species.
- Minimizing the risk to local communities related to health and safety.
- Allows the developers to implement measures to combat climate change.
- Preventing the development of residential projects if they are prone to high risk of natural hazards.
- Reducing the land’s exposure to pollution and transportation.
Investing in land and building a residential property is surely great for economic development. However, it does not mean that you shouldn’t practice due diligence for the environment. So, learn about the zoning laws in your area and draft a land-use plan.
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