Land development, or the process of transforming raw land into a useable property, is a long-term investment. While it’s a complicated process with many steps over a period of multiple years, you can expect to get a great return on your investment if you do it correctly and with the right help. Abercrombie & Associates is the trusted civil engineering and surveying firm of Cincinnati, OH. Their experts have shared their insight into the three major stages of land development so that you know what to expect.

Stage 1: Pre-Development

Before development, all research, preparations, and permitting needs to be completed. The time frame for pre-development varies greatly across projects. The stage often begins with planning methods such as market analysis, securing the rights to purchase the land, and performing environmental and feasibility assessments. Land surveyors come to the site, and site plans are put together. Permits for both land use and building should be applied for and approved, and property zoning is completed. Once all other parts of this stage are completed, the financing for the construction stage should be arranged—whether it’s via sponsors, lenders, or investors. Because this stage has the highest risk, investors at pre-development will have the highest return on their investment.

Stage 2: Construction

This is when the actual commercial or residential development and other land improvements are completed. Marketing should be done at this point to prepare for any desired lessees or buyers. You must also arrange for a property manager if needed. The local governing agency will issue a certificate of occupancy, certifying your compliance with all codes and laws. Once this certificate is issued, the construction phase is considered completed.

Stage 3: Operation

This is the stage with the lowest risk for investors. Any additional marketing, leasing, or sales can be done. Once you achieve these goals, you’ve reached stabilization. Congratulations!

As you navigate your way through the high-risk, high-reward world of land development, you need the right people by your side from start to finish. Abercrombie & Associates offers complete services to achieve the best results at every stage. Call them at (513) 385-5757 to discuss your project with a development professional.