Tuesday, November 17, 2009
Compared to residential development, commercial development involves many other tangible parts. For instance, residential development evolves around the ideas and blueprints of ambitious business intellectuals. Besides dealing with normal things such as zoning and setback requirements, these residential developers have far greater options. On the other hand many if not all, commercial developments have to abide by more stringent local, state, and federal procedures. Also, the commercial developer may find himself outside the normal rules and regulations of land planning and development. One example of this situation would be a restaurant owner who must work closely with the Securities Exchange Commission to begin a redevelopment of the restaurant. Another example would be for the commercial developer to gain approval from the ABC. These are two smaller examples of the extra steps that would be needed. There are many more steps which possibly are more stringent, but the overall picture is worth painting. Be fully prepared and patient when engaging in commercial development.