Outline any risk factors for the development including environmental impact, financial risks, or other factors that contribute to risk. How will you mitigate these risk factors? Outline your financial considerations for the project.

This week we looked at the use of land development for investment projects that could be residential based or commercial. The options for a parcel of land may be endless; or, those possibilities may be bound by local zoning ordinances and other restrictions. Project risks or area impacts may also have an impact on your proposed project. Your initial idea for how to develop a parcel of land may not be the final project, due to area regulations and other constraints. Conducting research to determine the feasibility of your project becomes an essential step in the process. The case analysis for this week will be focused on self-directed research of a parcel of land in the Virginia Beach, Virgina area. The criteria for selection of a parcel must be as follows: Parcel must consist of a minimum of 10 acres. Information about the property must be available and submitted with your assignment. This could be a summary of the property from a city office, the complete listing from an MLS database, or full ad for the sale of the property. Parcel must be considered to be relatively undeveloped; generally, this means that the property is raw land or any existing structures will be disposed of and the land repurposed.

This paper is meant to be brief. Submissions should be approximately be 3-5 pages, double-spaced, not including your list of references, to fully address all of the case questions. You may embed the pro forma income statement in a Word document or submit a separate Excel spreadsheet alongside a Word document. For your selected property, provide an overview of the following aspects: Outline of the project you wish to have completed on the property. Explain your choice and why you feel this is the best development option for the property. Provide references that support your ability to complete the project on the selected parcel. An example of this may be a city issued map stating that the property is commercially zoned, or another reference that fits other criteria for that area that supports your project. Outline any risk factors for the development including environmental impact, financial risks, or other factors that contribute to risk. How will you mitigate these risk factors? Outline your financial considerations for the project. This would include acquisition and development costs, methods of financing the acquisition and development of the project, and a pro forma income statement for the first 3 years of ownership (keep in mind that if year 1 is the acquisition phase, you will likely have mostly expenses, minimizing or eliminating profit for that year).