5 Ways Large Property Developers Use Map Data to Evaluate Sites
The search for ideal building sites and available land within those areas is an ongoing pursuit for large property developers, and it doesn’t happen by chance. Developers rely heavily upon map data to perform this critical task so they can invest in properties that suit their needs without wasting time, money or other resources. The detailed layers of information help answer foundational questions well in advance of any potential purchase, including:
1. Geographic Features
Parcel boundaries, potential hazards, lat/lon coordinates, surveys, and how the acreage lies in relation to other property development projects or finished complexes serves as base knowledge in evaluating site feasibility.
2. Demographic Features
Population density and composition, nearby points of interest, school zones/rankings, traffic data, and other granular infrastructure details are all factors in forecasting the short- and long-term residency patterns of a complex in the proposed area and possible return on investment.
3. Usable Land
The number of acres available in a parcel and the actual number that’s usable for construction often differ. Knowing the particulars can increase or decrease interest in the land and possibly avoid a bad purchase decision. It could also raise questions about aggregate acreage and availability of connected parcels to allow for appropriate building or expansion.
4. Zoning, Assessments, and Comps
5. Property Ownership
Understanding the chain of title and the individuals or entities that currently have an ownership interest in the land verifies availability, and reveals encumbrances and areas of concern that may be problematic during a property sale so there are no surprises at the closing table.
For large property developers, map data transcends topography. Digital mapping puts critical information at the fingertips of key decision makers so developers and GIS specialists need to deliver it in a format that provides value. Our Should I License Map Data Or A Map API Platform? tip sheet helps you determine the best fit for your needs. Click the button below to access your copy of this valuable guide now!