Waad Nadhir is dedicated to his career in commercial real estate, and he has worked hard to be where he is today. He is currently serving as the Co-Founder and President of BOSC Realty Advisors, which specializes in developing and acquiring property. He understands infill development, which is using empty space in urban areas to promote growth. Here are three problems that this process must solve.
First, urban infill developers have a much harder time finding land to use in a city or congested environment. Most of the time, these types of developers can only buy land by the parcel, which means that they could run into property owners who have no interest in selling. There is also a great deal of red tape developers have to go through to get their projects started.
Second, developers could run into social issues or disagreements amongst community members. A main argument is that the space being used for urban infill development could be used for public works that benefit the community as a whole. This could include parks or open space that allow members of the community to enjoy some part of the outdoors in their urban environment.
Third, urban infill developers can run into financial issues as well. This type of development is expensive, especially because it takes place in urban environments. It is much safer and cheaper to develop property in suburban areas than urban areas, which means it may not be financially possible for some developers.
Waad Nadhir has been working in commercial real estate development for years, and he understands the problems facing urban infill developers.