What does it take to create a successful park, hospital, or master planned community? Those who have been through the process will likely agree that it takes a lot of people working together towards a common goal. In over three decades of practice, we at RVi have also learned that the early stages of a project are critical to laying the foundation for success. With that in mind, here are five questions we like to answer before we get started on any project.
1. Who is the target market?
Most developers begin with a general understanding of the target market – such as a medical facility for seniors, a master planned community for first-time homebuyers, or an RV park for vacationing families. We encourage our clients to delve deeper and to create a more well-rounded understanding of the end user. What types of hobbies and interests do they have? These and other characteristics can help form the basis for a successful project that will truly resonate with the target market.
2. Is the focus on this target market supported by sound market research?
Development typically follows demand, but in order to get the equation just right it is often helpful to work with a market analyst. RVi frequently facilitates this process with an outside consultant who can provide research-backed recommendations for identifying the target market as well as the correct product and pricing mix.
3. What are the physical opportunities and constraints of the site?
The physical conditions of a site can have a measurable impact on the developable area, cost to develop, and eventually the overall success of the project. RVi is an expert at identifying opportunities and constraints, such as sensitive environmental features, topography, view corridors, vehicular and pedestrian access, and the impact of surrounding development. Our team specializes in gathering and interpreting this information to give our clients a clear picture of their options for moving forward.
4. What regulatory entities have jurisdiction over the site?
Local, state, and federal entities often have the final say over what can be developed. It is important not only to understand these regulations, but also to cultivate a positive working relationship with the people who enforce them. RVi brings to the table a host of tried-and-true relationships with many of these entities as well as a strong track record of navigating the process.
5. How might the local political climate affect the development process?
It is possible to follow all the rules and regulations and still encounter resistance. Conflicts can arise from many different angles – neighborhood groups, local government officials, and concerned businesses to name a few. While it is impossible to avoid every conflict, many potential issues can be minimized or eliminated entirely through a combination of relationship-building, proactive communication, and the simple yet effective process of listening.