Mitigation and City Risk Profiles in Property Development
Knowing which property uses are by-right versus conditional can help mitigate risk. It is risky if your project depends on human opinion, integrity, or fairness. We might consider a correlation between a city’s development risk and the ratio of by-right versus conditional uses.
By-Right Uses: Certainty and Streamlined Development Processes
Uses allowed by right offer certainty to property owners and developers, who know their proposed project complies with local zoning regulations. A more streamlined development process reduces the risk of encountering obstacles and delays during the planning and permitting stages.
Conditional Zoning Uses: Navigating Approvals, Costs, and Challenges
Conditional zoning uses, also known as special exceptions or special permits, require additional approvals from the local government or community. These approvals may involve additional costs or development requirements, public hearings, deep connections, and bribes.