The concept of subdivision building might sound familiar, yet it remains a topic filled with questions for many. So, let us begin by answering the fundamental question: What is subdivision building?
What is Subdivision Building?
Subdivision land development involves the process of dividing a piece of land into multiple lots or parcels, each intended for individual use. These subdivided lots can then be developed, whether for residential, commercial, or industrial purposes, and can be a game-changer in the world of real estate development.
But why should real estate investors consider investing in subdivision building, and what do Ontario real estate investors need to know about this unique aspect of land development?
Why Consider Subdivision Building?
Subdivision building can yield a significantly higher return on investment compared to other forms of real estate development. By splitting a single piece of land into multiple lots, you can maximise your returns as each developed parcel adds value to the overall project.
In a growing real estate market like Ontario, the demand for new housing and commercial properties remains high. Subdivision building enables real estate developers to meet this demand by creating more available units and spaces.
Understanding the Process
Before diving into the world of subdivision building, it is essential to understand the key steps in the process, which include:
- Pre-Consultation– Before submitting an application, it is crucial to consult with municipal staff or the approval authority. This step helps ensure that your project aligns with local regulations and requirements.
- Application Submission– Once you have consulted and made the necessary adjustments, you can submit a complete application to the approval authority. They will review your submission to ensure it complies with land subdivision plans and regulations.
- Notice of Application– Notices of the subdivision plan application are provided to relevant stakeholders, including neighbouring property owners and community members.
- Approval or Refusal– The approval authority will make a decision on the suvdivtion plan draft. They may approve it with conditions or, in some cases, refuse it.
- Notice of Decision– The applicant and anyone requesting notification will receive a notice of the decision which indicates if your subdivision plans have been approved.
- Appeals– In the case of a disapproval, certain participants may appeal to the Ontario Land Tribunal (OLT). The OLT may dismiss the appeal without a hearing or hold a hearing to make a decision.
- Final Approval & Registration– If no appeal is made, and the subdivision plan application fulfils all conditions of draft approval, the land subdivision plan receives final approval and may be registered.
- Subdividing Property Begins– Once registered, lots can be sold and transferred and your land subdivision can begin!
While starting a subdivision may look simple on paper, there is a lot more than meets the eye. Feel free to contact us directly for more information and advice.
For Ontario real estate investors looking to venture into subdivision building, expert guidance is essential. At Conder Developments we are a trusted name in the field of land development and subdivision building. With a wealth of experience in various projects, our real estate developers are here to help you navigate the complexities of the process, from initial consultations to final approvals.
Our team at Conder Developments provides a comprehensive range of services to assist you at every stage of your subdivision project. We have successfully completed numerous subprojects, and our expertise can be your greatest asset. If you are ready to explore the opportunities in subdivision building, contact us today to chat with our real estate developers!