Issues in Contemporary Real Estate Development - Research Paper Example

Real Estate Development Project Real estate development is one of the contemporary issues of the 21st century. Various varying projects may come in place to either find for a developer to rebuild the already existing facility at a place abandoned or even come up with a new project through which he has to take up the task of having new investors coming to view the premises. Having viewed the premises, it is up to the developer to convince the most prominent buyer of the advantages that will arise from the purchase of the property. It is important to go through the financial credentials of all the possible buyers in an effort to guarantee a lumsump amount of profit on their side. As a developer, initially, after the agreement of not taking up any old projects on the site, it is important for one to go through the general issues with regard to the project and the real estate developer. In the given project, one has to go through an initial windmill and attempt to understand and propose the various measures that one can take in development of the stated land. One of the most interested parties in the development of this project is a school located in Chicago, Illinois. .However, the school itself has the idea of turning green and this is completely different from the strategies that the windmill had in the initial stages. There are different statutory implications of purchasing the land, such as the local government of the area may not have wanted the land to get altered in a manner through which it would turn green. The effect on the site later on is that water resources may lack to be maintained in the land In order to operate on the land, the school has to fill out various applications. One of the applications that the school has to take seriously is in form of a title deed. The deed shows the various signatories to the land and that they are the rightful owners of the property. Collateral is another important agreement that one has to take up. This is from the fact that the previous owners of the land may have done some damage on the land that may have various health implications especially keeping in mind that the new tenants of the land are schoolchildren. Seeing as the school intends to utilize the land as a green project, there are various measures that they ought to take in order to make it habitable to their specifications. First, the manner through which the buildings of the school are set up starting from the basement up comes in as a very important factor that will ensure the government takes care of all the provided issues that the school intends to cover. Going through the manner through which these buildings, also known as green buildings are constructed will ensure that the government identifies the importance of having the school take up building of the land and consequently go easy on them regarding their proposed green agenda (Miles 58). A good design is essential for the construction and the maintenance of a green building. The importance of the design is ensuring that there is environmental preservation in the best manner possible. The basement and foundation is one of the integral parts of a building and should have the amount of attention it requires. The area where the building is to erect has clay soil seeing as the initial inhibitor was a windmill which basically runs on clay soil this makes the erection of the school rather risky from different aspects. The developer should ensure that he gets a contractor who has the credentials and knowledge of this issue on soil. Clay soil is strong and provides a great support for the foundation and the basement. This is from the way its particles join to form one large compact Substance. This substance leaves no space for air and thus makes it even harder. However, during the dry periods, the soil gets wet and the particles, having not supported themselves alone, end up breaking into pieces. This consequently has the building developing cracks and eventually falling to the ground, which is a hazard needless to state Conservation of energy is one of the most important aspects to understand when dealing with the construction of a green building basement and the real estate development officer ought to take this into consideration seeing as the school wants to uphold a green building state of structure. The basement in this situation is for the provision of energy from a more effective and reputable source. Natural lighting comes in effective for the preservation of any type of commodity that the building owners may term important. This would have the school administration interested in the school even further having in mind that they would have fewer costs to accumulate in terms of the electricity bills. The basement should have photovoltaics that are rather an effective method to save on energy used in not only the preservation of the basement, but also the establishment of the foundation. Fuel cells to run the mortar in the creation of bricks can come from new building appliances. An environmentally friendly building is otherwise known as a green building. An inspector is a vital aspect in the analysis of the already set foundation for the building. Most precisely an engineer ought to observe the already set foundation for the determination of the stability position that the building will have. Failure to analyze this may lead to the contractors and the builders carrying on with their work with no idea whatsoever of the sensitivity of the issue (Miles 102). The surveyor then comes in after this stage and determines the kind of footing to put depending on the type of building that the owner requires. In this case, a green building would require a rather high footing provided the soil formation and characteristics at the area. This is also important from the fact that the footing of the building determines the outline of the building. The real estate developer ought to employ an electrician, who is important from the fact that the owners of the building have to have an alternative but not mainstream source of energy in the case of rainy periods that solar energy stored runs out. The electrician has the responsibility of laying pipes and for electronic connections such as plugs. The plumber is also involved in this as he plans and plots the source of the water and reviews the drainage system to ensure that the soil has a constant supply of water and that the main water pipes in the building do so too. A proper plumbing system is vital for this type of building provided its location and the factors concerning the soil type in the stated area. For the pumping of water, a dual plumbing system ought to be installed and well insulated to ensure that bacteria and other harmful elements of the soil do not get to it. The system is referred to as dual as after the first round of using the water, instead of disposal, the water gets back to the system but using a different line. This water is not healthy for drinking or cooking, but can come of use in other means around the building that do not require healthy water. These include flashing the toilet and also the sprinkling of water on a flower garden or grass around the building (Miles 183). Going through the various issues that relate to the development, it is important to understand that the final but most important steps is regarding the law. It is important to understand that the development was taken to the area committee. There were however some problems with approval as the green building technique is generally new in the market. There some amendments made to the law that allowed the development to be registered. Work Cited Miles, Martin. Real Estate Development: Principles and Processes. New York: Cengage Learning, 2009. Print. Read More