Real Estate Development: Land Packaging

Land packaging is the second of the seven stages addressed in The CCIM Institute’s Development Specialty Track. Land packagers acquire unentitled land that has potential, create a vision for future development, and sell the parcel with the plan – each step requiring expert knowledge to maximize returns. Typically, physical improvements are not made to the site at this stage; rather, the site is sold to a land developer who then performs horizontal improvements. As such, developing a compelling plan that creates value is a key element. To do so, a high competency in selecting and managing a team of planners, architects, and other consultants is required. The ability to establish and maintain solid working relationships with municipal government and local stakeholders is also crucial given the zoning issues and public approvals necessary to complete the project.