Ground-up new construction is a process highly regulated by cities or municipalities. Developers of new construction projects go through a process of presenting their plans to city planning committees or local elected officials and the neighboring community before they can even break ground. When not planned and executed carefully, the approval process can become time-consuming and inefficient, or worse, the developer may end up with a very expensive abandoned project. So, how do you up your chance to win new construction approval?
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Continuing our conversation with Michael Zaransky of MZ Capital Partners today, we delve into the various phases of approval for ground-up construction. Michael takes us inside the process highlighting crucial elements, timelines, and relationship-building. He shares their proven recipe for success in winning community and city support. It’s #techandtacticsTuesday so let’s learn some tactics from an expert who has created high-occupancy, innovative, and award-winning apartment communities. Click now!
Key Points From This Episode:
- When seeking approval, what’s crucial for developers to provide the city first and foremost?
- What do cities and municipalities look for in housing products?
- Why it’s essential for developers to stay below building code requirements and not max the site in terms of density?
- Some project features that help entice neighboring communities and city planners to approve the new ground-up construction
- When is the best time to contact and start building relationships with the city planning committee?
- What’s Michael’s proven recipe for success in establishing relationships with members of the community?
- Why community feedback and support is crucial to the approval process and the success of the project?
- Examples of community concerns that typically come up during public hearings that developers must be prepared to address.
- Why it’s crucial for developers to present to the government that they intend to address community concerns and that the project is a good addition to the community.
“Provide the local government with a product that you and a good city planner have determined is actually good for the city, not just good for the developer.”
“People just want to be heard and be listened to.”
“We’re very proud of the quality of what we build. But neighbors don’t know us, they don’t know that’s going to be the case. So, we want to alleviate those concerns and let them know that they’re really going to see a nice addition to their community.”
“Those relationships of getting the planning staff and the city on board are really key.”
Links Mentioned in Today’s Episode:
About Michael Zaransky
Michael Zaransky is the founder and managing principal of MZ Capital Partners. MZ Capital Partners has been recognized by INC Magazine as one of the fastest-growing private companies in America by placement on the INC 500 list of companies. Michael has a wide range of real estate, banking, and financial experience and has been a licensed Illinois real estate broker since 1979. Michael is a member of the Young Presidents’ Organization (YPO-Gold), the National Apartment Association, the National Multifamily Housing Council, and the Urban Land Institute.
He is a James Scholar graduate of the University of Illinois Urbana-Champaign and earned his J.D. at Northwestern University School of Law. Michael has published numerous articles and lectured nationally on the subject of real estate investment. His real estate investment books “Profit by Investing in Student Housing” and “Purchase Rehab, and Reposition Commercial Investment Property”, real estate category best sellers, were published by Kaplan Publishing and are sold in major bookstores and online booksellers.
Active in numerous trade, civic, and professional associations, Michael is a board member of the National Multifamily Housing Council (NMHC) and serves on the Executive Committee, as the immediate past chairman of the board, of the Jewish Federation of Metropolitan Chicago/Jewish United Fund, one of the largest philanthropic organizations in the nation.
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