Kelompok 2: Achmad Saifuddin (9116202301)

Jeffry Dwi (9116202303)

Ade Rochmanu (9116202316)

Novrizal Putra (9116202318)

Chapter 12

Stage Two, Idea Refinement

Objectives of Stage Two

Creating a Plan: creating plan for land acquisition is the firs task of stage two.
In the process of finding a site and specifiying a proposed project, developer
must be following task simultaneously:
1. Analyzing the areas
2. Analyzing the competitor
3. Discussing the project with elected and appointed officials
4. Determining initial design
5. Analyzing potential sites
6. Negoitiating for the selected site
7. Continuing to refine financial feasibility
Controlling the site

Urban growth models: models of urban growth provide developers with a useful
frame work for understanding a markets current patterns of land use and potential
direction of change. The following are four early examples of urban growth models:

The concentric zone theory: asuming no variation in topography or transport

corridors or limit on land use.
The axial theory: modifiede the concentric zone theory and took into account
more intensive land use patterns along transpor corridors.
The sector theory: geographic features and differential accsess, waves of
development tend to move outward from the center
Multiple nuclei theory: recognized that even thought a city may have initialy
grown arround a central business distric

Choosing the site: this phase of the cycle is characterized by intense competition,
possibly resulting in either overpaying or overpromising ther seller

Types of buyers
Types of seller. Sellers may include:
1. Families who have held property for generations and are not in the real
estate business
2. Speculators who have aquired land for passive investment
 3. Corporations and govermentagencies
4. Financial institutions
5. Land developers
The deal: the negoitiation process may differ, but the objective is the same, an
agreement on terms followed by a contract. The letter of intent includes:
1. The priceto be paid at closing
2. Deposit paid
3. A determination of whether the deposits will be refundable or
nonrefundable
4. Condition of closing
5. Responsibilty for brokerage commisioning
6. Responsbilities of the buyer and seller
7. Due diligence rights
8. Right of asssignment
Information source
The sites physical characteristics: physical characteristic identifies all of the
site for its intended purpose. Such constraints include geologic, soils,
wetlands, biologic, easement, development regulations, and other factor.
1. Usable area
2. Geology
3. Hazardous materials
4. Cultural resources
5. Infrastructure
Initial feasibility: developers test concepts in the context of specific sites. This
requires moving forward to validate assumption on every aspect of the
project.
Negotiating for the site.