Do the "Due" Diligence
The start of any development project, no matter how big or small, is the Due Diligence Phase. This phase refers to a set of tasks that deal with gathering as much information as possible about the type of project to be developed and the land it is to be developed on. The sole purpose of such a phase is to give the developer the knowledge necessary to make informed decisions about a potential project and if it should be pursued.
There are many lenses to look through when framing a project in the Due Diligence Phase. Two of the most important are the legal and the architectural. And, by that I mean the zoning for the land and the type & massing of the buildings. Check out our former piece, “What the Heck is Zoning?” to learn more about the subject. But in summary, zoning simply refers to how a governing entity says one can legally use their private property. A Zoning Analysis is a standard deliverable that charts the potential intensity of a development. It will show things like how much of the land a building can cover, how big the building can be, how many parking spots are required, and much more.
A Feasibility Study refers to the size, type, and massing of potential buildings on a property. Similar to trying on a suit in a clothing store, the Feasibility Study will “test fit” a variety of massing scenarios to determine which is most practical, economical, and urbanistically desirable from the developer’s perspective. An architect typically will provide these analyses as it directly influences their work.
These two deliverables are critical tools that lay the foundation for a project. But for Fabric[K] Design target clients - the small scale neighborhood developer - these services are not always financially accessible or they blow the budget at a time when the project has little funding. Zoning Analyses and Feasibility Studies can range from $5,000 - $15,000 depending on the project. In addition to cost, many times the information is presented in a very confusing and convoluted manner. For the Small Scale Developer this is often a cost and a risk that is not easy to absorb.
At Fabric[K], we knew there was a better way to offer these services. In fact, we decided not to offer the service at all, but to represent them as a product with a clear value proposition instead. The Fabric[K] Design, Zoning Summary and Possibility Packages are fixed fee, stress free Due Diligence products that visually show what, how much, and in what form development can take place on a given property. We don’t simply give you a densely worded chart to look over. We offer a project specific booklet with engaging diagrams and visuals to clearly explain the potential of a property.
Our company mission is to hold neighborhoods together by helping people build (and develop) better lifestyles for themselves. That also means providing services and products that are accessible. Get started with your first or your next neighborhood development project with either our Zoning Summary or Possibility Package by clicking HERE!