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:
“The great fact in life, the always possible escape from dullness, was the lake. The sun rose out of it, the day began there; it was like an open door that nobody could shut. The land and all its dreariness could never close in on you. You had only to look at the lake, and you knew you would soon be free.”
—Willa Cather (1873–1947)
“John B. Watson, the most influential child-rearing expert [of the 1920s], warned that doting mothers could retard the development of children,... Demonstrations of affection were therefore limited. “If you must, kiss them once on the forehead when they say goodnight. Shake hands with them in the morning.””
—Sylvia Ann Hewitt (20th century)