week 3: planning and building

Question 1

inform

Answer 1

To provide the public with balanced and objective information to assist them in understanding the problem, alternatives, opportunities and/or solutions.

Question 2

consult

Answer 2

To obtain public feedback on analysis, alternatives and/or decisions.

Question 3

involve

Answer 3

To work directly with the public throughout the process to ensure that public concerns and aspirations are consistently understood and considered.

Question 4

collaborate

Answer 4

To partner with the public in each aspect of the decision including the development of alternatives and the identification of the preferred solution.

Question 5

empower

Answer 5

To partner with the public in each aspect of the decision including the development of alternatives and the identification of the preferred solution.

Question 6

Participation

Answer 6

a process that enables people to become actively involved in defining issues, making decisions, formulating policies, and taking action to achieve change. It encompasses both institutional processes organized by authorities and grassroots initiatives initiated by citizens.

Question 7

Initiation

Answer 7

starts with a location and/or an idea

Question 8

Investigation and analysis of viability

Answer 8

detailed market research needs to be undertaken and analysis needs to be done

Question 9

Acquisition

Answer 9

preparation prior to acquisition stages
legal investigation and no claims
physical inspection and examination (contamination, infrastructure, neighbors)
finance costs

Question 10

Design and costing

Answer 10

design and costing stages involve contributions from all members of the professional team

Question 11

Consent and permission
new development may require change of land use
every development requires planning consent or permission
a detailed application needs to be submitted

Answer 11

new development may require change of land use
every development requires planning consent or permission
a detailed application needs to be submitted

Question 12

Commitment

Answer 12

prior to commitment “due diligence” check to reconsider development proposal. After granting permission, contracts can be signed.

Question 13

Implementation

Answer 13

primary aim: ensure that the completion of the development is within the allocated time frame and the financial budget.

Question 14

Leasing/managing/disposal

Answer 14

final stage but relevant from initiation of development

Question 15

Frictional vacancy

Answer 15

necessary vacancy

Question 16

Structural vacancy

Answer 16

longer than three years

Question 17

Landowners

Answer 17

stage: initiation
motive: sell and/or improve value of land
land ownership: traditional, corporate, financial
very often the municipality is the owner

Question 18

developers

Answer 18

from single person entities to global multi nationals
main objective: make profit + maximize financial return for stakeholders
trader versus investor
type of developer varies because developments vary

Question 19

public sector/government

Answer 19

constrained by financial resources and limited by legal powers

Question 20

planners

Answer 20

objective: monitor and control the use of land in alignment with the public interest

Question 21

financial institution and lenders

Answer 21

financers seek to minimize risk and maximize future yields to achieve capital growth

Question 22

building contractors

Answer 22

employed by developer, task = physically construct the development

Question 23

real estate agent

Answer 23

sells real estate / property
detailed knowledge of property market and personal contact with stakeholders, “the property industry is all about people”

Question 24

professional team

Answer 24

developers employ a range of professionals because they don’t have all the expertise in house

Question 25

objectors

Answer 25

have the right to provide an input to the viability of the proposed development

Question 26

occupiers

Answer 26

occupier is known or unknown before development starts