Albuquerque Property Owner:
When a tract of land is available with entitlements partially in place (i.e., zoning), the property can be sold to a developer who can then carry the parcel of land through the City or County land development process to obtain a higher level of land entitlements (i.e., subdivision plat, site development plan, infrastructure improvement plans). The level to which these entitlements are in place and well established will have a direct impact on the value of the land. The developer interested in purchasing the land will have a means to establish development costs and project revenues much faster and more accurately if virtually all of the entitlements are in place.
That’s where our team can help. We can work to obtain the needed entitlements for a tract or tracts of land which can be packaged and sold with the land, thus increasing the sale price. With engineering capabilities, we can design the land development project, carry it through the City or County process, and design the sanitary sewer, storm sewer, water, and paving improvements and get the plans for those infrastructure improvements approved by the City or County.
With real estate brokerage capabilities, we can market the project and sell the project to an end user, complete with entitlements in place. Since the entitlements have been established and the infrastructure has been designed, the end user (purchaser) will be able to purchase the land with a better idea of what the project will yield in terms of revenues and what the project will likely cost to construct. It will save the purchaser time to perform ‘due diligence’ on the property since most of the research has already been done. We will make ourselves available to educate the potential end user (purchase) as to the various aspect of the project and answer most questions that he or she may have, especially those related to value of the end product, cost of development, and marketability. All of these work together to enhance the value of a tract of tracts of land intended for development.
Another element of consideration when establishing entitlements for a piece of land is determining the highest and best use of the land. Our team can work with City / County planners and appraisers to establish the highest and best use of land in terms of zoning and density.