Residential development project

[Antwain Peterson]

Good afternoon,

I’m new to Developement and real estate investing and am excited to seek feedback and guidance on a small developement project the I am working on with a few other investors.

We bought some vacant contiguous lots and would like to put 16 single family homes and 3 townhomes. For starters we need to get the land rezoned to a planned residential zoning for smaller lots. We have gotten as far as having the lot plan done, but now I need some advice on the next step(s). What do we need to present to the city, when do we seek financing and what do we need to have, etc. Any help would be greatly appreciated.

Thank you in advance!

[Greg Dickerson]

Typically you do not want to buy the land until you get all approvals. 

That being said here is a high level overview of the steps and process. 

Check with the city or county to determine what is required for all approvals and the time frame,

Ask if you have to install curb, gutter, sidewalks, street signs, street lighting or any other special requirements.

Are there any specific street design requirements, DOT requirements, permits or traffic studies.

DWQ, Army Corp or any other environmental requirements or permits.

General permit fees, proffers, water/sewer tap fees and the process of setting taps and connecting. Do you need to install manholes or fire hydrants.

What are the bonding requirements, inspections and CO process.

You also need to check with the utility companies and get cost estimates from them for availability, fees, hookup charges, transformer and power line/power pole locations or relocation requirements, water, sewer,gas, cable etc

You will need ball park cost estimates from site work contractors for site work, roads, installation of utility lines etc.