Residential Unit Development -
$1.2 Billion Developer Tells You How To Start |
Creating a multi unit development on one Lot is one level up the rung from the normal
residential house entry point for most of us in real estate development. So today I want to take you to
that next level and talk about developing several residences on one Lot. The number of residences we
put on the Lot is not relevant at this stage, but for simplicity, let's agree on a unit development of
six (6).
First lets understand that in the 84 countries my e-book,
"Residential Development Made
Easy," is studied there are different terms or names used for the unit development. I am
talking about a number of residences that are all on one level - all on the ground there is no
other unit on top and I'll call each one a ‘unit.'
Yes, in places they are called town houses or town homes or cluster houses, but for ease of
understanding, lets agree on calling the units.
So if your ambition is to develop six a unit development, the first question is, "Where
Do I Start?"
OK, every city or town in the free world has a Town Plan and it comprises, not surprisingly,
of plans or maps, usually with lots of different colors all over them, to distinguish the different
zonings of the land in your Town. In addition there are By Laws that define in writing exactly what
is allowed to be developed in each zone. For example, Residential Housing may be Yellow; Medium Density
Housing, like for unit development, may be Pink; and Industrial Buildings Orange, whatever.
So you can see at a glance how the town plan is broken up into land use categories. Just as
you can't build a house anywhere you like, you can't have a farm or a factory in the middle of a
residential area either.
So the first thing you must do is find out what is the ‘Zoning' of the land you own or are
thinking of buying. Getting land Rezoned is another issue altogether.
Let's assume your land is already zoned for Medium Density Residential. The Town Plan will
tell you all the requirements you have to undertake to develop your six units. It will tell
you the minimum Lot size allowed on which you can build two units.
It will tell you the distance in feet or metres you have to Set-Back the building line from
the boundaries of the land, the road, either internal and/or external.
It will tell you how much separation each unit must have from each other or whether common
party walls are allowed between each unit.
It will tell you the formula to use in calculating the number of visitir car parks you have to
provide for visitors to the complex.
In fact the town plan contains a massive amount of information and while I don't suggest you
try to read it all, I do recommend that you concentrate on the sections that involve unit
development. Now armed with this information you know where to start looking for suitable land or know
that you already own the correctly zoned land.
However I don't want you to think that you are on your own, because there are professionals
to help you and here I am referring to an Architect.
In my area of the world a professional developer usually has a formula that will tell how
many units can be developed on a certain size Lot, but as a beginner you may need an architect to
work it out for you.
But as a general guide, at your learning stage, why not visit other six unit developments in
your town that have been recently developed under the current town plan.
Remember town plans are changed over time and you may be doing your work at the point where
the Local Authority are making changes. Pace out the boundaries and multiply to get the area of
the land and that will tell you the size land you should be looking for to develop six units. You
could also check out the address of the development and do a search at the Land Titles Office. That
will also give you the land area. When it gets to the design stage of your units, apart from going
to an architect, you might also contact Master Builders in your area. Some of these Master Builders
have a design department and they may have existing designs that will fit on your land or create a
design according to your instructions at a rate that is very competitive. You'll note that I used the
term Master Builder and not Builder. There is a massive difference between the two.
A Master Builder is a "Builder" But a Builder can be a guy who is Licensed,
because he paid a Fee to a building authority after working in the industry and is definitely not a
Master Builder.
Author & $1.2 Billion Developer, Colm Dillon, Has Written The Best Selling 'How-To' E-book,
"Residential Development Made
Easy," With Readers In All States Of The USA, Canada, Australia, New Zealand, UK, Ireland and
79 Other Countries. His Independent Web Site,
http://www.realestatedevelopmentcoach.com
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