Does Your Development Project Need a Feasibility Study?

You’re interested in buying a piece of property and have a vision for developing it……now what?

Don’t jump into purchasing just yet! Make sure your vision can become a reality by considering these questions first:

• Is this zoned for my intended use?
• Can I make a profit?
• Will it be worth the effort?
• What roadblocks could I be missing?

If you answered “yes”, then how can you be certain? No one can fully predict the future outcome of your project; however, a feasibility study can give you a more reliable assessment. Feasibility studies serve to offset the developer’s risk and it is highly recommended you perform one before purchasing the land in question.

Commissioned engineers determine feasibility by identifying clear or hidden problems that may occur during the planning, design, government review, and construction stages. These problems are identified through a comprehensive analysis of information related either directly or indirectly to the property. This data is comprised of three main categories: legal condition, physical condition and regulatory concern.

It’s important to note that feasibility is more than just a technical consideration. Engineers also consider more ambiguous problems such as citizen opposition, or governmental preferences and push-backs. This collective information will become an essential tool for planning and development, and with effective preparation comes success.    
 
 
Are you interested developing a piece of land, but not sure of the risk? If so, give us a call! We offer Feasibility Studies, Environmental Impact Reports and Environmental Site Assessments. Our team is here to provide you with the high-quality engineering services your project deserves. Contact us to get started.