By Cindy Cummings
A 45-million dollar juvenile facility to be constructed at Taylor Avenue is expected to hold about 48 youths, according to the Racine County Eye. Plans to replace the outdated and almost windowless Racine County Juvenile Detention Center at 1717 Taylor Avenue are still in progress. The county has already purchased a lumberyard across the center that has been vacant for a long time and secured financing for the proposed Youth Development Care Center. However, the fight to stop the construction remains. John Tate II, the City Council President, recalls being asked by a resident, “Why do we always get stuck at these things.” The constituent was angry that another incarceration facility is being constructed while the city faces tight budgets. Developing new property isn’t a simple task, whether the government or a private developer owns it. Fortunately, you can succeed by following the proper property development process and commercial construction project management tips.
Understanding local zoning laws is vital for the success of any property development project. Zoning codes dictate the type of buildings you can construct on a parcel of land. Some areas are zoned for residential properties, while others favor commercial buildings or agriculture. Therefore, take time to understand your region’s local zoning policies to ensure that you are investing in a lot that allows you to build your dream property. For instance, if you intend to construct condos or apartments for rent, find out if your land is zoned for these types of buildings.
Thoroughly Inspect Your Land
Inspecting your piece of land is an excellent idea, as it will help you determine if the area is accessible or not. You’ll also identify and mark your boundaries, identify nearby ponds, rivers, fence lines, and trails. During land inspections, consider the condition of the building site. Is it forested, or does it have large rocks and other obstacles that need removal? Knowing your site’s condition will help you budget and search for reputable land clearing Wisconsin contractors to remove unwanted trees and debris.
Know Potential Drawbacks
While investing in raw land is lucrative, you risk losing tons of money if you choose to resale. In most cases, property developers lose money because of poor cash flow. It’s normal for developers to owe more money on land than the income it generates. Other potential drawbacks include slowing economy, low demand for rentals, and community backlash on your project. Developing new property is one of the most profitable ventures one can invest in. However, to be successful, you must understand zoning codes and know your potential drawbacks. It is also wise to inspect your land and obtain financing before construction work begins.