Assignment: Real Estate Principles
You own 15-acres of "undeveloped" land in east San Diego. Your undeveloped land does not have water, sewer, electrical and as well there is only an unpaved road that accesses your site from a main paved road. Your plan is to convert the 15-acres to ten, one acre lots leaving enough land for roads, utilities and open space that will likely be required by the City. You estimate it will take you 5 years to obtain a permit to grade the land into the ten lots.
Describe your process to obtain approval for this work. Include the following discussion items:
• Design process to produce a plan to submit to the city. Include building lots, utilities and roads in your plan development.
• Planning process. What are the steps that will be needed to obtain approval and how long do you think it will take?
• Discuss you financing options. What will you need to obtain the money to do this development? Assume it will take cost about $10 million.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.