Development Is Back! Now What?
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TORRANCE, CA-Development is clearly back in the US, as any number of indicators will show. To name a few: home building permits reached their highest level in five years in October 2013; multifamily permits surged 20.1% in September and 15.3% in October.
But as attractive as development looks right now (here's another indicator: property values increased by the most in 7 years in Q3 2013), companies should pause before rushing in and conduct a thorough due diligence risk assessment on the proposed project. That, at least, is the advice of executives at Partner Engineering and Science, Inc., which recently held a webinar on this subject in conjunction with GlobeSt.com.
Participants in the webinar included Ken Sisk, Partner's National Client Manager for Consulting & Engineering Services, Clare Broderick, Partner's Director of Facilities Engineering and Chris Daniels, West Coast Director of Surveying & Mapping. They walked listeners through an extensive list of potential pitfalls and hazards awaiting developers. They offer, for example, in-depth reviews of the issues that can arise during environmental assessments, land surveys and impact fees—along with a whole host of other topics.
In this article we will cover some of the basics offered by Partner. In part 2, we will do a deeper dive into the nuances of these points.
Next: An Extensive Checklist
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