Attaining commercial property development projects takes time, relationships and perseverance. Once developers have their plans approved and permits issued, builders can come in to bring the project to fruition.
Class C commercial buildings provide great redevelopment opportunities; however, be wary of potential liabilities such as asbestos, lead paint or environmental risks that might exist within.
Planning
Commercial property development is a complicated and time-consuming process that requires planning. A developer must identify suitable land for their development while having a solid grasp on market demand, demographics and other variables that might influence its success.
Developing commercial property development Adelaide properties requires adequate infrastructure, including electrical, water, sewerage and traffic systems that must be in place before completion. Developers should collaborate with experts to ensure these development aspects are in place before proceeding.
Developers must also ensure the land they purchase has the appropriate zoning for the type of building being planned, which may necessitate rezoning the property to fit with what will be constructed on it. Rezoning often involves neighbourhood meetings, and city officials before approval can be obtained for entitlements. To help with this process, developers can enlist assistance from architects, landscape architects, civil engineers, and site planners, among other experts, to assist with entitlement processes.
Developers must anticipate and mitigate risk, ensuring sufficient financial resources are available and construction costs remain within budget. It requires excellent problem-solving abilities under pressure, as unanticipated issues will undoubtedly arise during real estate development.
Zoning
Zoning is the process by which local governments divide a town or city into districts based on the type of properties and structures found within each area, such as residential, commercial, agricultural or industrial property uses. District zoning laws dictate everything from building colours and materials to layout and setback requirements for each zoned district.
Real estate developers and investors must understand zoning regulations to deliver properties with maximum appeal for their clients. Ignoring them can be costly and time-consuming; some lenders even require buyers to order a zoning report before receiving financing for commercial properties.
Most zoning laws allow for some overlap among different land uses; for instance, some districts permit multifamily and single-family residential buildings, while others may enforce specific building density and height regulations to balance aesthetic, functional, and safety considerations.
Some zoning laws include aesthetic or environmental considerations in their regulations, such as air quality and emissions, water quality, endangered species protection and wetland preservation. Complying with such requirements often necessitates additional inspections, permits and hearings with federal and state agencies.
Permits
When building, demolishing or altering commercial property development Adelaide properties, the appropriate permits must be obtained before starting work. Meeting with city officials and explaining your project to them are often required. Hiring organisations specialising in commercial development may provide the most cost-effective and successful project plans within your budget.
As your project’s size and complexity change, its timeline for permit approval could also differ considerably. Therefore, it is wise to plan accordingly by having third-party consultants available who can provide research reports that streamline the application process for permit approval. Doing this will avoid back-and-forth communication between the permit office and building team members, speeding up approval time.
Once your zoning permit has been approved, construction can begin. A building permit will be needed for new construction, renovations, additions and any structural modifications and work that impacts health and safety (examples include means of egress, new or altered fire/safety systems or electrical/mechanical systems). You will also require one for specific non-building structures like pavilions, bandstands or membrane structures – visit e-permits to obtain one and follow its prompts.
Construction
Once a construction plan has been approved, commercial developers will manage its actual construction. It involves mobilising crews, equipment and materials to the site and pulling permits for all aspects of the project – including building permits for buildings, plumbing permits, electrical permits and mechanical permits. At this point, public hearings may also take place to address local property owners’ concerns regarding its progress.
Conducting a land survey to ascertain physical limits and environmental concerns is also essential, providing vital insight into soil consistency, geological structure and any existing liens on your property, and any zoning restrictions or potential environmental repercussions.