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Work with experienced legal counsel to address issues in real estate development

Previously, we looked briefly at ongoing efforts by the Wilkes-Barre school to secure a location for a new high school. As we noted, the school district has taken steps to obtain a plot of land owned by Pagnotti Enterprises, but the property presents environmental issues and has yet to be approved by the Department of Environment Protection. At this point, it remains to be seen what the outcome will be for the development project.

Environmental issues are, of course, important to thoroughly address in any real estate development project, but they are only one part of what needs to be done in terms of due diligence on a property. There is also the need to review issues related to zoning, utilities, assessments, ownership of development rights, occupancy issues, and licenses and permits. In other words, there needs to be a thorough understanding of the state of the property with respect to regulatory compliance. 

In addition to regulatory matters, property developers also need to address any financial, tax, insurance, and service contract-related issues associated with the property, as well as any pending litigation, claims and liabilities.

Navigating the issues that can come up in real estate development is not necessarily an easy matter, especially when serious barriers to completing the project come up. Knowing how to resolve these issues effectively can mean the difference between seeing a project through to the end and losing significant investment costs on a project that doesn’t come to completion, or running into unexpected costs down the road.

Our firm is able to offer experienced guidance and effective advocacy for real estate developers, to ensure they have the best representation in planning out a project, managing risks, and effectively addressing issues that arise along the way.   

Source: Crowdstreet.com, “The Real Estate Development Process: Understanding the Risks and Milestones,” Ernie Massei, May 5, 2016. 

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