Land Development
Further information: Land developmentPurchasing unused land for a potential development is sometimes called speculative development.
Subdivision of land is the principal mechanism by which communities are developed. Technically, subdivision describes the legal and physical steps a developer must take to convert raw land into developed land. Subdivision is a vital part of a community's growth, determining its appearance, the mix of its land uses, and its infrastructure, including roads, drainage systems, water, sewerage, and public utilities.
In general, land development is the riskiest but most profitable technique as it is so dependent on the public sector for approvals and infrastructure and because it involves a long investment period with no positive cash flow.
After subdivision is complete, the developer usually markets the land to a home builder or other end user, for such uses as a warehouse or shopping center. In any case, use of spatial intelligence tools mitigate the risk of these developers by modeling the population trends and demographic make-up of the sort of customers a home builder or retailer would like to have surrounding their new development
Read more about this topic: Real Estate Development
Famous quotes containing the words land and/or development:
“But they who give straight judgements to strangers and to those of the land and do not transgress what is just, for them the city flourishes and its people prosper.”
—Hesiod (c. 8th century B.C.)
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—Women’s Liberation Workshop, Students for a Democratic Society, Radical political/social activist organization. “Liberation of Women,” in New Left Notes (July 10, 1967)