Property for Development: Why You Need the Help of Town Planning Companies
Though town planning companies are often associated with only the large projects such as township establishment, advisory services regarding land-use management, and the likes, such companies also provide services to property owners who need help with rezoning residential properties. To help you understand how town planning companies help residential property owners to have their properties rezoned, we briefly discuss some of the aspects related to rezoning a residential property that you want to buy for development purposes.
Steps Involved in Rezoning a Property for Profit-Generating Purposes
Before you can commence with a development project on the residential property, you must ensure that the property is zoned to allow the activities or development you have in mind. To this end, town planning companies can help you with the steps to get it rezoned, some of these steps include:
• Consultation with the local council to determine which specifications must be met.
• Submitting the application and using the relevant forms.
• Notifying the public about the intention to rezone the property.
• Encouraging public participation and responding to any objections.
• Performing a technical analysis of the requirements.
• Analysing the changes that must be made to ensure approval.
• The council reviewing the application and giving their decision.
• Notifying the public of the decision.
• Being allowed the chance to appeal the decision if not in your favour.
• Allowing the public the opportunity to appeal the decision if in your favour.
Although municipalities are objective in their assessment of applications, it is imperative to ensure that the plans submitted meet the specific requirements for the zoning relevant to the area. Town planning companies work with zoning applications daily and thus have the expertise to ensure that the requirements are met. Keep in mind that proposals must meet the criteria as set by the municipalities regarding rezoning. It is best to buy a property that you intend to use for industrial or business activities in an area already zoned for mixed development use. However, if not possible, work closely with town planning companies for due diligence on properties of interest to ensure you buy one that has the potential for rezoning to allow for the intended development or use.
Understand Zoning Types for the Purpose of Developing a Residential Estate
Although more zoning types exist, the main categories are that of residential, business, and industrial. Each of these has sub-categories which should also be kept in mind.
With residentially zoned properties, density restrictions apply. The restrictions related to density, floor area, and ratio, referred to as “FAR Coverage” refers to the area that buildings can take up on the particular property. Bulk refers to the floor area that is allowed under the roof while density entails the maximum number of dwellings allowed for per 10 000 m2. With a property zoned as Residential 1, only one house or dwelling is allowed per stand. More factors apply such as the coverage of the property and allowable density. The dwelling can take up a certain percentage of the stand. If it is allowed to have a double-storey building on the property, you will thus be able to cover more of the property without taking up more ground surface.
If the property is zoned as Residential 2, it allows for a higher density per 10 000 m2. In such an instance, 10 but not more than 20 dwellings are, for instance, allowed per 10 000 m2. If you thus want to develop the property as a townhouse complex, it is best to purchase property zoned as Residential 2. With property zoned Residential 3, up to 40 dwellings can be built on 10 000 m2. This is the perfect property if you plan to develop a townhouse estate with smaller units and thus a higher density. Property zoned as Residential 4 allows for as many as 120 dwellings per 10 000 m2 and are thus well-suited for apartment blocks.
Town planning companies understand the maximum coverage and density aspects of each residential zoning. The town planners can thus help you to determine which properties are best suited for your development intentions. From the information supplied, you can see how town planning companies can help you to avoid financial losses related to properties that cannot be used for the intended development purposes. They can also assist with rezoning applications apart from the due-diligence steps.
We have just considered Residential zoned properties, but other factors must be taken into consideration for business and industrial zoned properties. These factors are best discussed with the experts from town planning companies such as The Practice Group. Get in touch for more information and help in due diligence on properties, as well as rezoning applications.