MONEY 16 - LAND DEVELOPMENT #4

THIS IS MY 16^TH POST ON UNDERSTANDING MONEY TOOLS

Land Development Part 4

Now, we will go to Parcel 2 of the development we are analyzing. Again, go to www.premierewisconsinland.com and/or follow my dialogue.

This parcel is about 10 acres and quite narrow (about 250 feet).  It is situated between the road that is the entrance to the highway overpass and another road/street.  Because there is commercial on two sides of this site, the highest and best use is determined to be commercial/retail. The State purchased 2.5 acres for a park and ride near the west end, however politics with the town has entered the picture and the town doesn’t want to maintain the park and ride that the State will pay for thus preventing it to be completed at this time.   Again, be prepared for politics affecting your work! 

There is a possibility with the park and ride location to be incorporated into the development package and provide more parking to satisfy the State’s requirements, and a win, win situation.

Another obstacle on the parcel is 60,000 sq. ft. designated isolated wetlands through mandated testing. What can we do?

With the “isolated” wetland situation the DNR and State actually takes that land away from your control.  There is a possibility to work with the State and DNR to purchase other land and give/dedicate that to the State in lieu of your land holding, usually on a 2 or 3 to 1 ratio in their favor. This is referred to as “mitigation”. Sounds peculiar, but the owner has lost control of his land.  If this can be accomplished, we can go ahead and incorporate this land into the building package as parking sites, not suitable to build upon.  Proper engineering and drains will need to be incorporated to drain this location under the road that is access to the highway and to the north into another small wetland area.

Normal strip centers are long and run 50-55 feet or more in width.  Walkways, parking and shipping transportation drops in the back of the stores will be planned for and laid out.  Deliveryshipping access in the rear of the building needs to be about 24 feet or wider.

On the eastern part of Parcel 2 we brought in clean fill after removing topsoil; approximately 10,000 cubic yards was delivered and graded out as that area was low, and then replaced with topsoil for farming usage until the market demand for retail and building returns.

Closer to the west end of this strip of land is a ditch for water run off that flows north under the highway and eventually to the Rock River, a larger Wisconsin river.  When the time comes for complete grade work and building our engineers will work with the DNR on alternatives for this.  It is not only the ditch that is important when planning out development, but the setbacks the government requires.

As obstacles arise work with people and find solutions for the best of all concerned, and avoid lengthy legal entanglements.