Determining Project Viability: Residual Land Valuation and Predevelopment Task Management
How does a developer know whether a particular piece of land is affordable for a specific project? What specific areas of information should a developer investigate after site control is achieved? How does a developer manage risk by addressing project uncertainties before they become expensive problems?
The business terms (price and timing of payment) for acquiring land for a development project are the most important decision that a developer makes because it is the only decision in the development process that the developer has complete discretion over making; if the project cannot financially support the terms, then the developer does not acquire. Determining whether a project can support the terms of acquisition requires a systematic approach to gathering information and anticipating project implementation issues. After achieving site control, the developer focuses on areas of project risk, continually evaluating whether the chances of success warrant proceeding further and how to implement the project most cost-effectively. If the risks are too high or future implementation measures are shown to be too expensive, the developer needs to abandon the project and treat expenditures up to that point as a loss.
This webinar provides fundamental information about how to evaluate and manage the economic viability of a real estate project to developers as well as planners, designers, architects, lenders, builders, attorneys, accountants, marketers, engineers, public officials, and environmentalists.
June 13, 2013 1:30 PM Eastern
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