New development idea—what’s next?

Question

If I were to have an excellent idea for developing commercial real estate in a particular area, what would be next?

How does something like commercial planning get off the ground? What are the steps?

Greg Dickerson · Answer

@Eric Ippolito  first it takes Capital to fund the due diligence process and bring the project to shovel ready but the following steps are free and are done by you to determine feasibility.

Check with the city or county to determine what is required for all approvals including site plan and building permits, proffers, water/sewer tap fees, bonding requirements, inspections and CO process and time frame for all approvals.

You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

Check to see if you have to install any manholes,fire hydrants, curb, gutter, sidewalks, street signs, street lighting any specific street design or access requirements,.

Check DOT requirements for access, stop lights and permits, traffic studies

DWQ requirements for permits, permit fees, time frames

This is  a broad overview of the process and your civil engineer can handle all of this but it's good for you to know exactly what's required.

Harriet Baldwin · Answer

Good summary by @greg dickerson

For a large project, many jurisdictions require an approval from the Plan and Zoning board (there may be no "as of right"). If so, this is a pre-step before building permits.

In some areas and/or locations you will need an environmental review (statewide DEC or similar and/or local wetlands review or similar and/or review of any EPA-classed conditions and history).