Developing vacant land is one of the most effective ways to generate revenue using real estate investments. Businesses can establish multi-family housing units, industrial complexes and retail facilities that they can then sell or rent to others.
Business owners and executives preparing for a development project often focus on the big picture. They anticipate a project that may take years to come to fruition and focus on optimizing the returns on their investments. In many cases, the biggest hurdle to overcome is not proper planning but rather regulatory compliance.
Legal support is critical during property development in Florida. Businesses hoping to develop property need help learning about and complying with all applicable regulations. Environmental rules, in particular, can have a major impact on the success of property development.
Environmental regulations create layers of red tape
There are dozens of federal, state and local environmental regulations that may apply to different development projects. The location of the parcel, its current use and the intended use of the developed property all influence what rules and regulations apply to the development process.
In most cases, permits from the Florida Department of Environmental Protection are necessary. Sometimes the United States Army Corps of Engineers may need to review projects that involve wetlands or are close to surface water sources.
If the project involves wetlands or property close to them, special permits and evaluations may be necessary to avoid damage to the wetlands or to any protected species inhabiting those wetlands. Developers also have to consider surface water.
They must address how the development of the property and then later use of the property might affect local water supplies and even nearby wildlife. In scenarios where development includes the creation of parking lots or altering the characteristics of more than one acre of land, developers may need to have the plan for stormwater as well.
Every project is unique and is subject to different rules. Determining what regulations apply, conducting appropriate research and communicating with all interested parties consistently can be prohibitively difficult for a company to manage on top of the practical aspects of property development. An attorney familiar with Florida real estate and development laws can provide crucial support so that a developer does not overlook any key regulations or make mistakes that could undermine the success of a development project.