Government requirements and regulations in suburban real estate development

Real Estate Development

In every real estate development project regardless of the location the government is a necessary partner. The following is a description of a project that is being built in a prosperous close in a suburban village near a large population center. Tell me in outline form: 1. The various government requirements that the developer will encounter and 2. What must the developer do to satisfy those requirements?

The various government requirements for the developer will depend upon: the city and state that the properties are located. This is because each community; will have different regulations that will apply to: the activities of the developer and what they are allowed to do under the law. The below outline will detail some of the challenges the developer will encounter and what must steps must be taken to satisfy these requirements. (Kemp, 2003, pp. 89 -- 103)

Requirements the Developer will Encounter

Urban renewal regulations -- These require that certain historical aspects of the community must be in place at all times (such as: the maintaining a certain width and style of the street).

The disposal of hazardous material -- This means that the company will have to account for how the will remove materials that were used in some of the old building such as: asbestos.

Zoning -- Since residential homes are being demolished and retail space is going to be developed, means that there could be different zoning issues that will have to be addressed. (Kemp, 2003, pp. 89 -- 103)

Property Management

Three of the biggest challenges with any kind of real estate project include: obtaining the proper permits, following the various environmental regulations and cost overruns for the project. (McKenzie, 2010, pp. 396- 404)

I told you two jokes at the beginning of the year. One was about a chicken farmer that had to keep all of his chickens in the air at one time and the other was about the missing tent encountered by Sherlock homes and Watson on a camping trip. Why did I think these stories were relevant?

These stories are relevant because they are discussing the challenges that everyone will go through in life. Where, everything will not work out as planned, due to a number a different issues. Those who are successful at whatever they are doing, will learn how to: work through these problems and move forward. I believe that these jokes are important, because they are showing how in real estate you will have similar issues. The key to success is working through them to make the project a major accomplishment.