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Residential Land Development

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The first stage in residential land development and possibly the most important is creating a community vision. A community vision is strategic plan in which the developer set goals and objectives that will address the needs of home owners and the municipality. In this stage a plan is created that illustrates the vision of what the community will look like once construction is complete (City of Mississauga, n.d.). This is a form of forward planning, where challenges are addressed, opportunities are utilized, and assets are capitalized on through creating a community vision (City of Mississauga, n.d.). Land development is dependent on land acquisition to initiate the development process and the project. Without the appropriate land, communities …show more content…

If a community is developed on a parcel of land that is not suitable that community will experience a decline overtime in terms of its population and value to its respective municipality. A successful community is one that is built in an area that provides residents with employment opportunities, security, primary relationships and within proximity to services such as educational or health. For example, if a community was developed in Northern Ontario where there is limited development it would hinder the growth of that community since areas in Northern Ontario are primarily agriculture and self-sustained. Developers will conduct research to project and forecast the outcome of a residential development in terms of sales, feasibility, project design, demand and ensuring housing products will match the land (Guerard, 2005). Three of the main factors developers consider prior to purchasing a parcel of land is employment trends, population data, and supply/demand (Guerard, 2005). The research that goes behind acquiring a parcel of land for development is important in ensuring that the community being developed is successful based on the area it is being built

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