Land Development
Table of Contents

Introduction | Preview A Chapter | Back Cover

Figures, xi
About the Author, xv
Acknowledgments, xv
Disclaimer, xvii

Introduction 1
     The Process, 1
          Where to Begin, 3
          Key Elements, 3
     New Complexities, 5
     The Project Team, 6
          Market Research and Financial Analysis
          Consultants, 7
          Project Planner, 7
          Auxiliary Advisers, 7
          The Developer, 8
     Future Homebuyers, 8

Chapter 1 The Market Study, 10
     Why Do a Market Study? 11
     Purpose of a Market Study, 11
     Types of Market Studies, 12
          General Studies, 13
          Site-specific Studies, 14
          Highest-and-Best-Use Studies, 14
          Target Market Profile Studies, 15
     What Kind of Study Do You Need?, 15
     Housing Supply and Demand, 17
          Housing Mix, 18
          Projecting Demand, 18
          Adjusting the Projection, 19
     Sources of Demographic Data, 25
          Census Data, 25
          Other Sources of Demographic Data, 27
          Data Vendors, 28
     Capture Ratio, 28
     Understanding the Target Market, 29
          Psychographic Data, 29
          Sources of Psychographic Information, 31
     Specialized Knowledge of the Target Market, 33
          When to Use Specialized Information, 33
          Sources of Specialized Information, 34
     Project Viability, 35
     When to Study the Market, 35
          Before Land Purchase, 36
          After Land Purchase, 37
          During Project Build-Out and Sales, 37
          After Project Completion, 38
     When to Purchase Market Information, 38
          In-House Market Studies, 39
          Professional Market Studies, 39
     Continue to Market, 42
          Advertising and Other Marketing Activities, 42
     Selling the Project, 43
          Selling to Builders, 43
          Selling to Homebuyers, 44
     Today's Marketplace, 45

Chapter 2 Financing Your Project, 46
     Dramatic Changes in Development Financing, 47
          Sources of Capital, 48
          Increased Documentation Requirements, 50
     Types of Loans, 54
          Acquisition Loan, 55
          Development Loan, 57
          Construction Loan, 58
          Permanent and Interim Financing, 59
     Alternative Sources of Financing, 60
          Partnerships and Investors, 60
          Joint Ventures, 61
          Pension Funds, 62
          Types of Land Purchase Agreements, 62
     Analyzing Cash Flow and Profit, 65
          Pro Forma Analysis, 65
          Cash Flow Diagram, 68
          Sensitivity Analysis, 68
          Profit Analyses, 72
          Accuracy of Methods, 73
     Future of Development Financing, 75

Chapter 3 Site Selection, 77
     Two Approaches to Site Selection, 78
          Development Idea in Search of Site, 78
          Site in Search of Master Plan Concept, 80
     Three Types of Site Characteristics, 81
     Physical Factors, 83
          Geotechnical Conditions, 83
          Topographical Conditions, 88
          Site Features, 90
          Hazards, 94
          Improvements, 95
          Site History, 96
     Legal and Political Factors, 96
          Zoning, 97
          Growth Management, 98
          Comprehensive Land Use Plan, 99
          Subdivision Ordinances, 101
          Contiguous Property, 102
          Overlapping Regulations, 103
          Political Factors, 104
     Off-Site Factors, 107
          Negative Off-Site Factors, 107
     Special Studies, 108
          Environmental Impact Studies, 108
          Stormwater Management Plan, 109
          Wetlands Review, 109
          Traffic Studies, 111
          Tree Surveys, 111
          Sources of Information for Special Studies, 111
          Geographic Information Systems, 112
     Evaluating Preliminary Site Data, 113
          Organizing Site Data, 114
          Decision Matrix, 114
          Starting with the Site, 120
     Site Selection and the Target Market, 120

Chapter 4 Site Analysis, 122
     Gathering Additional Data, 123
          Project Design, 123
          Project Costs, 123
     Site Analysis Tools, 124
          Current Maps, 124
          Drawings and Tests, 125
          Land Survey, 125
     Physical Factors, 126
          Topography, 126
          Soils and Subsurface Conditions, 129
          Hydrology and Drainage Requirements, 131
          Stormwater Runoff, 135
     Site Features, 135
          Project Opportunities, 135
          Project Constraints, 140
     Regulatory Requirements, 143
          Zoning, 144
          Subdivision Review Process, 148
          Environmental Approvals, 149
          Building Codes, 152
     Off-Site Factors, 152
          Streets and Sidewalks, 153
          Utilities, 153
     Applying Site Analysis to the Master Plan, 155
          Producing Multiple Solutions, 155
          Selecting a Final Concept, 158

Chapter 5 Major Environmental Regulations Affecting Development, 160
     Transforming the Physical Environment, 160
          Regulatory Climate, 161
          Creative Alternatives, 162
     Environmental Permitting, 162
          Reviewing Project Impact, 163
          Submittal Process, 163
          Key Areas, 166
     Wetlands, 166
          Regulations, 166
          Project Impacts, 169
     Hazardous Wastes, 170
          Regulations, 171
          Project Impacts, 172
     Water Quality, 173
          Regulations, 173
          Project Impacts, 174
     Air Quality, 176
          Regulations, 176
          Project Impacts, 177
     Noise Control, 177
          Regulations, 178
          Project Impacts, 178
     Radon, 179
          Regulations, 179
          Project Impacts, 179
     Plants and Wildlife, 182
          Regulations, 183
          Project Impacts, 183
     New Approach to Development, 183
          Marketing the Environment, 184
          The Green Developer, 185
          Recognition Programs, 185
     Environmental Awareness, 186

Chapter 6 Developing a Master Plan Concept, 187
     Initial Idea, 188
          Unified Master Plan, 188
          Community Identity, 189
          Site Characteristics, 190
          Target Market's Preferences, 191
          Regional Context, 193
     Sense of Community, 194
          Social Interaction, 194
          Automobile and Pedestrian, 196
          Privacy, 198
     Choosing a Concept for a New Development, 201
     New Design Ideas, 201
          Traditional Neighborhoods, 202
          Smaller Developments, 204
          Creating a Unique Place, 206
     Finalizing the Master Plan, 209
     Development Guidelines, 210
          Architectural Guidelines, 210
          Deed Restrictions and Covenants, 212
          Construction Guidelines, 213
     Master Plans of the Future, 213

Chapter 7 Site Engineering and Stormwater Management, 216
     Site Engineering Plan, 217
          Components, 217
          Master Plan, 218
          Grading Plan, 219
          Stormwater Management Plan, 219
          Erosion and Sediment Control Plan, 220
     Grading Plan, 220
          Cut and Fill, 220
          Spot Elevations and Slopes, 221
          Code Compliance, 222
          Microengineering Process, 223
     Stormwater Management Plan, 225
          Principles, 227
          Types of Systems, 228
          Design of Closed Systems, 230
          Design of Open Systems, 234
          Combining Open and Closed Systems, 236
     Stormwater Drainage Plan, 238
          Site Drainage Patterns, 238
          Rational Formula, 240
          Subarea Drainage Requirements, 242
          Retention and Detention Basins, 244
          Creating Project Amenities, 249
     Erosion and Sediment Control Plan, 251
          Temporary Control Measures, 253
          Permanent Control Measures, 255
     Site Engineering and Your Project, 257

Chapter 8 Residential Streets, 258
     Street Design, 258
          New Directions in Street Design, 259
          Local Street Ordinances, 261
     Applying Ordinances to the Master Plan, 262
          Street Hierarchy, 263
          Street Width, 264
          Cul-de-sac Turnarounds, 265
     Street Geometry, 266
          Intersections, 267
          Curb or Corner Radius, 269
          Vertical and Horizontal Alignment, 271
     Street Patterns, 273
          Density and Scale, 274
          Site Conditions, 277
          Focal Points and Pedestrian Routes, 278
          Basic Design Considerations, 278
          Cross Sections and Stormwater Runoff Systems, 281
     Street Design Process, 282
          Entrances, 282
     Enhancing Your Project's Identity, 284

Chapter 9 Selecting Housing Types, 286
     What the Buyer Wants, 286
     General Design Issues, 287
     Density and Pattern, 288
          Single-Family Detached, Large Lot, 288
          Single-Family Detached, Small Lot, 289
          Attached Housing, 294
     Matching the Target Market's Demands to
     Housing Types, 301
          Style Preferences, 303
          Regional Preferences, 303
          Site Characteristics, 304
          Climate, 305
     Homebuyer's Identity, 309
     Planning as the Key to Success, 310

Appendix A Sources of Marketing Data, 311
     Demographic Data, 311
          U.S. Bureau of the Census: Census Reports, 311
          U.S. Bureau of the Census: Other Publications, 311
          Congressional Information Service, 313
          Private Sources of Demographic Data, 313
     Psychographic Data, 315

Appendix B Land Development Checklist, 316
     Market Analysis, 316
          Target Market Identification, 316
          Relating Product to Target Market, 316
          Determining Capture Ratio, 317
     Financial Analysis, 317
          Land Acquisition, 317
          Loan Structure and Disbursement, 318
          Pro Forma Analysis and Cash Flow, 318
     Site Analysis, 319
          Physical Factors, 319
          Legal Factors, 322
          Political Factors, 324
          Off-Site Factors, 324
          References, 326
          Index, 329

Introduction | Preview A Chapter | Back Cover