Lecture 6: Site Selection and Analysis It's really true.... Location, location, location A site-related error is permanent! But... Product (sometimes) trumps site! Chicken or egg? Feasibility study first or site first? Location vs. Site Location: The general area Site: The specific parcel of land Factors to Consider: Location Demand generators Seasonality Economic factors Competition And.....? Factors to Consider: Site Orientation Access Visibility Proximity Parcel attributes Topography Zoning Site conditions Utility availability Area synergy Orientation Views Sun exposure Winds Access Visibility Burj-al-Arab, Dubai Proximity to.... Demand generators Labor Transportation Undesirable functions Size and Shape of Parcel Sheraton Airport Hotel, Terminal 2, Charles de Gaulle Airport, Paris How big is an acre? An acre is 43,560 SF. A hectare (metric) is 10,000 SM. An acre is about .4 of a hectare. A typical Hampton Inn requires a 2 acre site. 18 holes of golf requires up to 150 acres. The Arts Quad is about 10 acres. Topography Spacing of lines Intervals Shapes and forms Water courses Tax Maps Zoning Types: Uses Building size and placement on site Other Variances Zoning Terms Floor Area Ratio (FAR): How much physical space you may build &quot;above grade&quot; on a given site Expressed as a multiplier Example: FAR = 15 means you can build 15x the <a href="/keyword/square-footage/" >square footage</a> of the site above grade 100' x 100' x 15 square feet of building allowed FAR = 15 100' x 100' site Zoning Terms Setback: Requirement that structures be positioned a specific distance back from the property line Example: Setback of 15' means you cannot build your building within 15' of your property line (may apply to only one side of the property) Site Conditions Structures Soil and other below- grade conditions Vegetation Easements Previous uses Utility Availability Power Natural Gas Water Sewer Area Synergy Barriers Physical Psychological Acquisition Process Start with a Letter of Intent (LOI) Initiate binding purchase agreement only when: Project is financially and functionally feasible Funding is available In general, developers try to keep land costs to no more than 15% of the total project costs