Posted on: 8 November 2017
As a developer, you know how important it is that an entire neighbourhood be able to support your development, whether that's an apartment complex or a shopping centre. If the neighbourhood or town in which your development is located is overcrowded or doesn't have enough residents, or doesn't have supporting shops and businesses around your development, this can affect your number of potential tenants, and the overall value of your property. Note when a town planner can assist in ensuring that the surrounding neighbourhood will support your business and help when the area needs improvements to ensure your development thrives.
Lack of traffic
You may be missing out on tenants and daily vehicle traffic to your development simply because of how traffic is controlled in the area. For example, the speed limit may be so high that drivers don't see your shopping complex until it's too late for them to pull into the parking lot. Traffic congestion can also be causing drivers to avoid the street where your retail complex is located, or the street to your apartment complex; in turn, you lose business and potential tenants.
An urban planner can study traffic patterns in that area and note how traffic is controlled, and work to better control the flow of traffic. This ensures that drivers are actually encouraged to make their way to your development, and can then increase your tenants or customers overall.
Lack of other businesses
If there are not supporting businesses in the area of your development, your investment will probably not thrive. Tenants in apartment complexes expect to have stores nearby, and a person shopping at your retail complex may want a coffee shop, diner, and other such supporting business close as well. Bus lines and gas stations can also encourage people to stop near your development.
If the area around your development is lacking these types of supportive businesses, an urban planner can also work with you and the city in order to encourage those businesses to move to the area. The planner might petition the city to add bus stops or taxi stands on the same street, and note if property taxes are so high that they're discouraging businesses from locating in that area. Widening roads, adding school bus stops and public parks, and other such improvements can also encourage supporting businesses to locate to your area, and an urban planner can work with the city council to bring about those changes and improvements.
For more information, contact a local urban planner.Share