we take Ten steps with each project.
Scenic Land Company takes a ten-step approach to multi-use, commercial and residential real estate development. Over the past twenty years, we have learned that patience on the front end ensures quality and positive results on the back end.
In this pre-search phase, we begin by identifying an undeveloped or underdeveloped parcel of land that we believe holds significant potential value to its surrounding community and investor partners. We then assess the financial potential of the land, the challenges facing its development and the probability of a successful outcome for all parties.
During the Visioning phase, a team is assembled to imagine the multiple uses of the land and how it might serve its community through development. This step considers the potential roles of residential, commercial and business uses, as well as green spaces, parks and worship facilities. The Visioning team consists of site planners, architects, retail and marketing experts to configure high-level plan options.
Once the initial Visioning and Assessing passes have been taken, the team is led by a seasoned master planner. This individual is responsible for the overall design of the real estate according to the vision set forth by the property owners and Scenic Land Company. But for a development to be considered successful, the master planner designs a plan in this phase that is based on helping fit the land to the way people live and work.
Once the Planning phase of the process is complete, Scenic Land Company begins the process of Engaging the surrounding community with the plan, its vision and overall impact on the community. Prior to public meetings, Scenic Land Company meets with key stakeholders and decision-makers at the city, county and state government levels, as well as utility companies. At this point, we advertise and hold town hall meetings to ensure not only that the community understands the plan for the undeveloped parcel of real estate, but also engages and becomes enthused with the concept and its benefit.
With the master plan in place and the local community, government and utilities engaged, the Solving phase begins. At this point, Scenic Land Company addresses and solves specific requests and concerns raised by all invested parties.
During the Entitlement phase, Scenic Land Development enters extensive approval processes involving multiple regulatory jurisdictions. At this point, it is common for a project to require various approvals, permits and consents from federal, state and local governing and regulatory bodies. This phase of the process often involves extensive negotiation and concessions in order to secure the necessary approvals and permits for zoning, future land use, public services, infrastructure, funding and state law requirements.
Over the years, Scenic Land Company has established strong relationships with financial institutions, private equity firms and private investors that allow us to obtain financing for our various projects. Our financial partners trust us because of our proven results and the credibility of our team. During the Funding phase of development, Scenic Land Company develops financing alternatives and preliminary budgets including sources and uses of financing, development budgets, operating budgets and cash flow projections. We also procure third party services and negotiate contracts and fees, prepare and submit financing applications, negotiate investment terms with equity partners, syndicators and investors, and securing financing commitments from funding agencies, lenders and investors.
With the customization of each of our real estate developments, Scenic Land Company appreciates the critical relationship between design and construction from the beginning of every project. We appreciate that construction is influenced by natural, social and locational conditions, including weather, labor supply and local building codes. And because of technological complexities and market demands, changes of design plans during construction are not uncommon. However, solutions are always available.
In a sense, a real estate development is never complete. The land may require additional enhancements, clients may request further adjustments and structures may continue being built in multiple phases over the years. Scenic Land Company appreciates that highest and best-use practices of real estate takes time. That's why we build in time to each of our developments to account for enhancements, modifications and the settling and growth of the landscape that match the needs of the immediate and surrounding communities.
With history as our guide, Scenic Land Company learns from each of our real estate developments. We course correct and re-strategize future projects based on information and experience from our previous work. We observe the responses of the community, local and state government officials, as well as processes related to entitlements, funding, construction and, ultimately, planning. This attitude and approach allows us to improve with every project and provide our clients and their communities with the best possible results.