<aside> 📍 The session explains the process for site identification and acquisition. It explains the zoning by-laws for the development. It highlights what developers need to look for in a potential site and the studies they would need to conduct to ensure that the site is suitable for the identified development. The session will also explain the process for acquisition, the negotiated time period before closing and the due diligence that needs to be conducted before the closing date. This session also teaches students how to apply a residual land value analysis through a level 01 proforma to determine the acceptable price of land for their project. The session will support participants to be able to get insight on the scope of selecting a first site, to understand what to look for in selecting a site, and how to apply site analysis tools that can improve the selection process for an appropriate site choice.

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Learning Guidelines

1. Learn the zoning information for your site
2. Apply a massing model for your development
3. Find the Floor Area Ratio for your Project
4. Create a back-of-envelope pro Forma
5. Conduct the Residual Land Value analysis for your site
6. List the qualified consultants needed to assist you with the due diligence phase of the project

READINGS

Toronto Edges One Step Closer to City-Wide Multiplex Legalization - Storeys

Toronto Edges One Step Closer to City-Wide Multiplex Legalization

City Report Calls for Zoning Amendments to Allow 4-Unit Multiplexes in Every Neighbourhood - Storeys

City Report Calls for Zoning Amendments to Allow 4-Unit Multiplexes

SESSION INSTRUCTORS:

Janice Miyagi, Architectural Designer, People Design Co-operative Joel Gilbert Anderson, Principal, People Design Co-operative

SESSION RELATED LINKS

• Session 2 Outline
• Session 2 Zoom Recording
• Session 2 Power-point
• Session 2 Notes

KEY TERMS

Definitions for these terms can be found in the glossary

• Massing Model
• As-of-Right
• CoA
• Pro Forma
• Residual Land Value

Requirements:

FAR (Floor Area Ratio) or FSI (Floor Space Index)

Multiplex By-laws

https://www.youtube.com/watch?v=h9RL9Xo68bY

MASSING MODEL

Massing models are a simple visual representation of what a potential structure might look like on a particular site with consideration to its surrounding context. Massing models focus on the size and shape of the structure rather than structural details, building materials, or colours, and often don’t take into consideration things like windows or doors.

Sketchup

SketchUp Free is an easy to use, web based 3D modeling software.

Free 3D Modeling Software | 3D Design Online | SketchUp Free Subscription

City of Toronto

Pro Forma

Simple Back of the Napkin

A simple pro forma takes into account the high level, large ticket costs as laid out in:

• COSTS

Complex and robust excel document

A complex pro forma takes as many details as possible into account, often breaking them down into revenue and expenditure streams by quarter and fiscal year.

Residual Land Value

What can I pay for this property?

Determining Residual Land Value is useful when you are determining what you should pay for a particular property. Land Value is determined by a number of factors, but the largest variable when considering Residual Land Value is the profit you expect to make.

Municipality Resources

Consultants

Zoning