Before you get too far in your planning, you need to have an objective third party assess your property. If you are building on your own land, ask for the following:
An appraisal of the value of your land -- how much is it worth?
The buildable square footage -- how much land can you build on and how tall can your structure be?
Rights & Regulations -- what air rights, land use issues, zoning restrictions, or other associated rights or regulations are you working with?
Potential red flags -- is there a sewer line running through your property? A gas line? A restriction of some kind on the property? Something else that will make development cost-prohibitive or otherwise unfeasible?
Just Homes can get you this information via our free Development Assessment. If you have property and would like our support in this assessment, please contact us!
If you’re looking at purchasing another property, this appraisal will likely be part of the purchasing process. Find out the data so you can be as informed as possible about what you’re working with.
Developers will often offer to assess your property, but be wary of their assessments because your property could be worth more than they value it as. It’s best if you find an objective third party, such as a land appraiser to make the assessment. Just Homes will help you find these people and, if you are comfortable, help research on your behalf.
At this stage, you also want to conduct an internal assessment of organizational readiness: does your church have the capacity to take on this project? Do you have a decision-making process in place? What is your emotional energy level and what structures are in place that can get you to the finish line? Who do you need to get on board? Again, Just Homes can talk through these questions with you.
As you study the feasibility of your project, it will be helpful to hire a development consultant. You’ll need one eventually (see next step), and it can be helpful to bring them in at this stage to help you navigate the initial process. Just Homes will connect you with those who can help. For example, the Enterprise Faith-Based Development Initiative offers assistance with workshops on the basics of development, pro bono legal services, development consultant referrals, and some financing for both pre-development and construction.
