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:
“It is cruel for you to leave your daughter, so full of hope and resolve, to suffer the humiliations of disfranchisement she already feels so keenly, and which she will find more and more galling as she grows into the stronger and grander woman she is sure to be. If it were your son who for any cause was denied his right to have his opinion counted, you would compass sea and land to lift the ban from him.”
—Susan B. Anthony (1820–1906)
“This was the Eastham famous of late years for its camp- meetings, held in a grove near by, to which thousands flock from all parts of the Bay. We conjectured that the reason for the perhaps unusual, if not unhealthful development of the religious sentiment here, was the fact that a large portion of the population are women whose husbands and sons are either abroad on the sea, or else drowned, and there is nobody but they and the ministers left behind.”
—Henry David Thoreau (1817–1862)