There is plenty of land available for development or re-development in the Boca Raton area.
With the right business planning and some good luck, a development project can be a great boon for investors in terms of rental income and increased value of the property.
However, those wanting to pursue the project must have all of their legal affairs in order so the project can be fruitful.
For example, commercial real estate transactions for development projects can be complicated.
The process of drafting and negotiating a purchase agreement may require extra steps that one would not have to take when, for example, buying a mid-value residential home.
Likewise, commercial closings and the steps leading up to them will necessitate attention to the details of both the law and the circumstances.
Even after closing, the project’s investors will still likely have to set up a series of construction contracts to actually develop or re-develop the land.
These contracts will often require the project’s investors to take other steps to protect their rights and ensure that those who agree to do the construction fulfill their commitments and do so with no costly shortcuts.
Land use law is a web of federal, Florida and local laws
Usually, a commercial development project will also touch on what people can call land use law.
Land use law is in fact a web of local, state and federal laws and regulations that allow the government to control how landowners, including developers, use their land.
For example, the developer will have to make sure that its project meets local zoning requirements. Doing so may require asking for re-zoning or other relief from a local government agency.
In many situations, the developer will also have to make sure to comply with federal and state environmental protection laws.