Real estate development , or property development , is a business process , encompassing activities that range from the renovation and re- lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property . Real estate development is different from construction or housebuilding , although many developers also manage the construction process or engage in housebuilding.
45-553: Valentin Borisovich Yumashev (Russian: Валентин Борисович Юмашев ; born 15 December 1957) is a Russian journalist, politician and businessman- developer , who is the son-in-law of former President Boris Yeltsin and a member of his inner circle. He has the federal state civilian service rank of 1st class Active State Councillor of the Russian Federation . He was Editor-in-Chief of Ogonyok from 1995 to 1996. In 1996, he
90-757: A better environment. Each country of the United Kingdom has its own planning system that is responsible for town and country planning, which outside of England is devolved to the Northern Ireland Assembly , the Scottish Parliament and the Senedd . The term 'town planning' first appeared in 1906 and was first used in British legislation in 1909. The roots of the UK town and country planning system as it emerged in
135-642: A building's technical requirements. Also, plans might change on site to overcome unforeseen problems. Legality of minor amendments was challenged in 2006, and central government advice to many local authorities was that any variation to a planning permission should require planning approval. The Localism Act 2011 introduced wide-ranging changes to the planning system in England. The bill introduced legal provision under which local communities (led by parish councils or neighbourhood forums) could develop neighbourhood plans. Similar to development management documents produced by
180-492: A creche, day nursery or day centre, not including a residential use, principally to visiting members of the public, (g)for— (i)an office to carry out any operational or administrative functions, (ii)the research and development of products or processes, or (iii)any industrial process, being a use, which can be carried out in any residential area without detriment to the amenity of that area by reason of noise, vibration, smell, fumes, smoke, soot, ash, dust or grit. It also introduced
225-415: A different Use Class generally requires permission. Separate Orders are made in respect of England, Scotland and Wales. In all cases the appropriate Class is determined by the 'primary purpose' of the use and a use may have other elements that are different but ‘ordinarily incidental’. For example, a restaurant may have some takeaway sales. The use of some properties is also limited by conditions imposed on
270-579: A formal system of zoning as used in the United States . Counties developed structure plans that set broad targets for the wider area. Structure plans were always problematic and were often in the process of being replaced by the time they were formally adopted. Over the years, the planning system has undergone a number of alterations, which were consolidated in the Town and Country Planning Act 1990 (TCPA 1990). Section 106 substantially re-wrote section 52 from
315-425: A museum, (d)as a public library or public reading room, (e)as a public hall or exhibition hall, (f)for, or in connection with, public worship or religious instruction, (g)as a law court. Class F.2 Local community Use as— (a)a shop mostly selling essential goods, including food, to visiting members of the public in circumstances where— (i)the shop’s premises cover an area not more than 280 metres square, and (ii)there
360-420: A new Class F1 and F2 replacing those uses from the previous Class D1 and D2 that had not been swept up into Class E. Class F2 is unusual in that it separates certain small local shops from Class E. The Order reads Class F.1 Learning and non-residential institutions Any use not including residential use— (a)for the provision of education, (b)for the display of works of art (otherwise than for sale or hire), (c)as
405-533: A potential development is sometimes called speculative development . Subdivision of land is the principal mechanism by which communities are developed. Technically, subdivision describes the legal and physical steps a developer must take to convert raw land into developed land. Subdivision is a vital part of a community's growth, determining its appearance, the mix of its land uses , and its infrastructure, including roads , drainage systems, water , sewerage , and public utilities . Land development can pose
450-458: A project's economics; attorneys to handle agreements and government approvals ; environmental consultants and soils engineers to analyze a site's physical limitations and environmental impacts ; surveyors and title companies to provide legal descriptions of a property; and lenders to provide financing. The general contractor of the project hires subcontractors to put the architectural plans into action. Purchasing unused land for
495-456: A restaurant Is Class E). Hot food takeaways (Previously Class A5. Hot food to eat in is of course a restaurant, Class E). Venues for live music performance. Cinemas. Concert halls. Bingo halls Dance halls.) Prior to September 2020 the Use Classes for England and Wales were: Classes A3 to A5 were formed in the 2005 amendment by a split of the previous A3 class 'Food and Drink', though this split
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#1732870010054540-530: A team of professionals to address the environmental, economic, private, physical and political issues inherent in a complex development project is critical. A developer's success depends on the ability to coordinate and lead the completion of a series of interrelated activities efficiently and at the appropriate time. Development process requires skills of many professionals: architects , landscape architects , civil engineers and site planners to address project design; market consultants to determine demand and
585-403: Is appropriate to provide in a commercial, business or service locality, (d)for indoor sport, recreation or fitness, not involving motorised vehicles or firearms, principally to visiting members of the public, (e)for the provision of medical or health services, principally to visiting members of the public, except the use of premises attached to the residence of the consultant or practitioner, (f)for
630-647: Is no other such facility within 1000 metre radius of the shop’s location, (b)a hall or meeting place for the principal use of the local community, (c)an area or place for outdoor sport or recreation, not involving motorised vehicles or firearms, (d)an indoor or outdoor swimming pool or skating rink.”. As before, a number of uses are deemed sui generis (in themselves) and planning permission is required for any change of use to or from such uses. The list excludes. Theatres. Amusement arcades/centres or funfairs. Launderettes. Petrol filling stations. Hiring, selling and/or displaying motor vehicles. Taxi businesses. Scrap yards (or for
675-563: The Housing and Town Planning Act 1919 , the Town Planning Act 1925 and the Town and Country Planning Act 1932 were initial moves toward modern urban planning legislation. By the outbreak of Second World War , thinking was sufficiently advanced that the Ministry of Town and Country Planning was established on 7 February 1943 under William Morrison , the former Postmaster-General . During
720-729: The Localism Act 2011 abolished the Infrastructure Planning Commission for national projects, set up by the Planning Act 2008 and recentralised control in the hands of the Secretary of State. The aim of recent reforms to the planning system was to simplify and speed up the production of plans. The financial costs and time delays associated with the new system are significant and the Barker Review of Housing Supply (2004) on
765-609: The Planning (Consequential Provisions) Act 1990 . These four acts are referred to as the Planning Acts . Almost immediately after Parliament passed these acts, the government had further thoughts on the control of land development, which led to the Planning and Compensation Act 1991 , which made important alterations to many of the provisions of the Planning Acts. The Planning and Compulsory Purchase Act 2004 made substantial changes to
810-506: The Town and Country Planning context in the United Kingdom, 'development' is defined in the Town and Country Planning Act 1990 s55. A development team can be put together in one of several ways. At one extreme, a large company might include many services, from architecture to engineering . At the other end of the spectrum, a development company might consist of one principal and a few staff who hire or contract with other companies and professionals for each service as needed. Assembling
855-406: The Town and Country Planning Act 1947 . The 1947 act, in effect, nationalised the right to develop land. It required all proposals, with a few exceptions, to secure planning permission from the local authority, with provision to appeal against refusal. It introduced a development charge to capture the planning gain which arises when permission to develop land is granted. This was abolished by
900-501: The Town and Country Planning Act 1954 passed under subsequent Conservative government. Green belts were added in 1955 via a government circular . Furthermore, the 1947 Act introduced a requirement, which still exists, on local authorities to develop forward looking policy documents such as local plans or unitary development plans to outline what kind of development is permitted where, and to mark special areas on Local Plan Maps (today referred to as policies map). It did not introduce
945-653: The Council will involve the local community. All LDDs and SPDs also have to be accompanied by a Sustainability Appraisal (SA) and a Strategic Environmental Assessment (SEA). The SEA is a requirement under European Union laws. Planning Policy Guidance Notes are also being gradually replaced by Planning Policy Statements . Minor variations were allowed to planning permissions, recognising that information provided for planning permission does not provide enough detail for actual construction. Working drawings are required first, and architects often make small changes to accommodate
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#1732870010054990-479: The English development plan system. It did away with both structure plans and local plans , in favour of local development frameworks (LDFs), which are made up a number of Local Development Documents (LDDs) and Supplementary Planning Documents (SPDs). The regional spatial strategy (RSS), which is produced by regional assemblies in England , replaces the structure plan as the strategic planning document (i.e.,
1035-547: The RSS that's targets for housing and employment development within each district in a region in the future). A variation on this approach exists in Wales . Local authorities are also now required to produce local development schemes (LDS) – which outline the work the LDDs/SPDs they intend to produce over a three-year period, and Statements of Community Involvement (SCI), which outline how
1080-566: The appointment of Vladimir Putin as prime minister of the Russian Federation. News of Yumashev's resignation, in April 2022, from an unpaid post as adviser to Vladimir Putin , became widely known at the end of May 2022. Valentin Yumashev is also known as a co-author of two books with Boris Yeltsin: Against the Grain: An Autobiography and The Struggle for Russia . Yumashev talks about it in
1125-448: The book The age of Berezovsky by Petr Aven. Yumashev recalls: "Boris Nikolayevich had a very strict rule forbidding his family members to speak about politics <...> I could talk politics with him because we were working on his books". From his first marriage with Irina Vedeneyeva, he has a daughter, Polina. In 2001, Polina married Oleg Deripaska ; they divorced in 2019. Yumashev and his second wife Tatyana Yumasheva (daughter of
1170-555: The first president of Russia Boris Yeltsin ) own half of the Imperia Tower in " Moscow International Business Center " and half of the business center of "CITY" (49.58% of shares). It was reported that he, along with his wife and their daughter, have been citizens of Austria since 2009. Real estate development Developers buy land, finance real estate deals, build or have builders build projects, develop projects in joint ventures, and create, imagine, control, and orchestrate
1215-525: The following purposes— (a)for the display or retail sale of goods, other than hot food, principally to visiting members of the public, (b)for the sale of food and drink principally to visiting members of the public where consumption of that food and drink is mostly undertaken on the premises, (c)for the provision of the following kinds of services principally to visiting members of the public— (i)financial services, (ii)professional services (other than health or medical services), or (iii)any other services which it
1260-418: The former act, settling the concept of agreements (known as "planning obligation agreements," or more commonly "Section 106 agreements"), under which the developer is subject to detailed arrangements and restrictions beyond those that a planning condition could impose, or by which they make agreed financial contributions beyond the immediate building works to offset development effects on the local community. This
1305-637: The immediate post-war years lay in concerns developed over the previous half century in response to industrialisation and urbanisation . The particular concerns were pollution , urban sprawl , and ribbon development . These concerns were expressed through the work of thinkers such as Ebenezer Howard and the philanthropic actions of industrialists such as the Lever Brothers and the Cadbury family , and architects such as Raymond Unwin , PRIBA, and Patrick Abercrombie . The Housing and Town Planning Act 1909 ,
1350-605: The inspectors independent of government ministers, as in the Planning Appeals Commission in Northern Ireland. The requirement to obtain planning permission extends not only to new construction, but also some changes of use of a property. To simplify this the Government from time to time publishes a Use Classes Order. Planning permission is not normally required for a change of use within a Class but change of use to
1395-463: The local authority ombudsman if they can make a case of maladministration by the local authority. In such a case the ombudsman has no powers to enforce a retraction of the permission, but it may sanction the local authority. Appeals can be made: In England and Wales the appeal is heard by a planning inspector , while in Scotland this role is filled by a reporter . There has often been talk of making
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1440-597: The local authority, neighbourhood plans have statutory weight, so that they are considered in the determination of planning applications. Historically, planning applications were submitted in paper form to designated Council offices and displayed for a statutory period at public libraries or offices. In December 1995, the London Borough of Wandsworth created a website that published electronic images of planning application documents. This technology greatly improved access to application-related documents for all participants in
1485-436: The most risk, but can also be the most profitable technique as it is dependent on the public sector for approvals and infrastructure and because it involves a long investment period with no positive cash flow . After subdivision is complete, the developer usually markets the land to a home builder or other end user, for such uses as a warehouse or shopping center . In any case, use of spatial intelligence tools mitigate
1530-487: The original planning permission. Use Classes England Use Classes in England were extensively revised on 1 September 2020 (he revisions do not apply to Wales). The new Order introduced a new Class E encompassing most business, retail and similar uses replacing the previous Classes A1, A2, A3 and B1, B2 as well as parts of the old Class D (such as health uses and day nurseries). The new Class reads Class E. Commercial, Business and Service Use, or part use, for all or any of
1575-466: The planning process. Within ten years, most planning authorities within the UK followed suit. These sites are often known as 'Public Access'. Other access methods now include routing inquiries through a centrally-hosted public or privately hosted website, such as UKPlanning or the national Planning Portal . An applicant may appeal against a refusal of planning permission. A neighbour who objects to an application has no right of appeal, but may appeal to
1620-413: The planning system suggested some of the requirements were unnecessary and delaying the delivery of sustainable and social housing, and recommended early revisions to the regulations. HM Treasury noted the recommendation to redirect a portion of Section 106 financial contributions as a "planning gain supplement"" for wider community needs and has responded by an act of Parliament that will levy "a tax on
1665-488: The process of development from beginning to end. Developers usually take the greatest risk in the creation or renovation of real estate and receive the greatest rewards. Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structures, and rent out, manage, and ultimately sell it. Sometimes property developers will only undertake part of
1710-739: The process. For example, some developers source a property and get the plans and permits approved before selling the property with the plans and permits to a builder at a premium price. Alternatively, a developer who is also a builder may purchase a property with the plans and permits in place so that they do not have the risk of failing to obtain planning approval and can start construction on the development immediately. The financial risks of real estate development and real estate investing differ due to leverage effects. Developers work with many different counterparts along each step of this process, including architects, city planners, engineers, surveyors, inspectors, contractors, lawyers, leasing agents, etc. In
1755-407: The risk of these developers by modeling the population trends and demographic make-up of the sort of customers a home builder or retailer would like to have surrounding their new development. Town and Country Planning Town and country planning in the United Kingdom is the part of UK land law which concerns land use planning . Its goal is to ensure sustainable economic development and
1800-608: The storage/distribution of minerals and/or the breaking of motor vehicles). Any work registerable under the Alkali, etc. Works Regulation Act 1906 (as amended)). Hostels (providing no significant element of care. Waste disposal installations for the incineration, chemical treatment or landfill of hazardous waste. Retail warehouse clubs. Nightclubs. Casinos. Betting offices/shops. Pay day loan shops. Public houses, wine bars, or drinking establishments (previously Class A4). Drinking establishments with expanded food provision (previously Class A4. Note
1845-523: The war, a series of royal commissions looked into specific problems in urban planning and development control. These included: Also, Patrick Abercrombie developed the Greater London Plan for the reconstruction of London , which envisaged moving 1.5 million people from London to new and expanded towns. These intellectual efforts resulted in the New Towns Act 1946 ( 9 & 10 Geo. 6 . c. 68) and
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1890-626: Was appointed adviser to President Boris Yeltsin for public relations. In March 1997, Yumashev succeeded Anatoly Chubais in the powerful position of the Chairman of the Presidential Executive Office . In December 1998, he was dismissed from that position. He now works in real estate development . Valentin Yumashev was born 15 December 1957 in Perm . His family moved to the Moscow region when he
1935-582: Was not effected in Wales; jurisdiction over secondary planning legislation being by then a matter for the Assembly . A key part of planning control is exercised in the UK by preventing any significant development of property without permission by the local authority. In Part III of the Town and Country Planning Act 1990 , under section 59 the Secretary of State delegates to public bodies the right to grant planning permission. A long list of other unconsolidated Acts and Regulations also affect UK planning. For example,
1980-660: Was sixteen. He entered the Faculty of Journalism of the Moscow State University but did not finish his studies. In 1976, he started working as a courier at the Komsomolskaya Pravda newspaper. A year later, Yumashev was drafted into the army. In 1996, Yumashev was appointed advisor to the president on interaction with the mass media. In 1997–1998, he served as head of the presidential administration, succeeding Anatoly Chubais . In 1999, Yumashev allegedly initiated
2025-404: Was soon amended to allow a developer to self-impose obligations to preempt objections to planning permission. This prevents the planning authority from blocking a permission by merely failing to negotiate. Three further acts related to planning are associated with this primary act: The Planning (Listed Buildings and Conservation Areas) Act 1990 , the Planning (Hazardous Substances) Act 1990 , and
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