Due Diliegence Requirements for Land Acquistion
September 13, 2022
In Michigan, as in other states across the U.S., keeping pace with the housing demand can be challenging. Still feeling the impacts of the pandemic, residential builders continue to experience high materials costs, supply chain issues that delay projects, and difficulty hiring enough workers to meet the demand. But, even with all these challenges, some builders are seeing growth and opportunity.
Envirologic has had the good fortune to work with Allen Edwin Homes since 2021, as they acquire property for new home developments. They, too, have worked hard to keep up with the demand for new homes and have continued to grow and acquire land for residential development in Michigan and northern Indiana. Our Due Diligence Group assists clients, such as Allen Edwin Homes, during property acquisitions. This process involves completing the required environmental site assessments and, when necessary, ecological investigations, which may include wetland identification, delineation, and permitting and threatened and endangered species surveys and permitting. The environmental due diligence services that Envirologic provides to Allen Edwin Homes, and similar clients, fulfill typical regulatory requirements that must be met during real estate transactions and redevelopment.
Through our partnership with Allen Edwin Homes, we have supported over thirty projects throughout Michigan and northern Indiana. Envirologic has built a reputation of dependability with clients and in the industry in general. Lasting business relationships built on trust, transparency, and loyalty are what we are most proud of. We have long-standing relationships with many of our clients, some dating back to the launch of our company over 33 years ago.
Our due diligence work and other services are accepted by lenders, the Michigan State Housing Development Authority (MSHDA), businesses, regulators, and others, and we strive to ensure quality, completeness, and timeliness with these services. Through our other technical abilities, we are able to look at the “complete picture” of a development or an acquisition and evaluate parameters that may affect project success.
The initial stages of property acquisition are an integral part of any successful development project. According to Allen Edwin Homes, “Before we start building a home, we look for the best areas to develop new home communities, so you can love everything about your new home from its location to the custom features that make it truly yours.” We are proud to help Allen Edwin Homes achieve their mission and look forward to supporting other home builders and developers in attaining their project goals.
If you’d like to talk to a member of our Due Diligence Group, please contact them via the contact form found here.