The due diligence report has a separate section on zoning and land use. Both of which will have a bearing on the ability to seek the highest and best use for a site. Most all jurisdictions will have a Land Use Plan and Zoning Districts. This section will explore these elements requiring an in-depth investigation to ensure the intended use and design for the property is in compliance with local regulations. Not only checking existing regulations but inquire about any changes in the political pipeline. If the intended use for the property is inconsistent with the municipal land use and zoning plans, a request to change the documents will be required. Consider:
Diversification of land uses will increase absorption
Seek various densities to achieve a balance between density, marketability and cost
Consider various ownership i.e. rental, fee simple and condominium
Research your market to seek highest and best uses or market driven uses
Remember, just because a property has a specific zoning or land use as designated by government, the use/zoning may not represent the development pattern of the immediate area. Local government has just not updated their land use and zoning maps to reflect the actual changes in the marketplace. Consider the following land uses for your site:
Rural residential, estate or standard single family detached
Small Lot single family and Zero lot line
Duplexes and Townhouses
4, 6, & 8-plexes
Mid-Rise and High Density
Residential, Commercial, or Office Mixed Use
Vertical Integrated Mixed Use
Town Center
Neighborhood or High Intensity commercial
Traditional Neighborhood, New Urbanism
Industrial or office Parks
Recreation Areas, flood Plains, and wetlands
Golf Courses and other amenities
Public, Quasi-Public and community facilities
Active Adult Communities
Transitional communities
Specialized Adult Housing i.e. Assisted Living, Independent Living
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