Fortunately for those involved in the real estate industry in the greater Phoenix area, recent events have shown that local residential development is prospering. As this blog reported in a previous post, the current trends indicate that multifamily residential development is thriving, which is good news for those involved in real estate development.
But, it takes more than just the right market environment for a development project to succeed. A developer interested in a subdivision and planned area developments or other development project of course, ought to know that there is a demand for the type of development he or she wishes to pursue. It is also imperative for a developer to have a commitment to the type of development project he or she is pursuing. A financial commitment, as well as an emotional commitment, can help encourage a project’s success.
With commitment to the project and favorable market conditions, a development project already has an increased chance of success. An additional factor that may help encourage the success of a development project, whether it is a subdivision development, airport expansion or involves slum clearance, is the backing of the right team. One essential component of this team is effective legal counsel.
The attorneys of Faith, Ledyard & Faith, P.L.C., have experience guiding clients through the many intricacies of the development process. From negotiating agreements with landowners to obtaining the required building permits, to dealing with unexpected bumps in the road, it can be tremendously beneficial to have an advocate on your side to provide counsel and help see a development project into completion.
Additional information about real estate negotiations and development is available on our website.