During this stage, raw or partially entitled land is purchased. Entitlement means obtaining approvals from public agencies and municipalities to develop specific sizes and types of properties. This can mean rezoning the land to fit demand and adding improvements, such as utility and road extensions, drainage facilities, and other “horizontal” developments. During this time, extensive marketing activities help to sell parcels for development during the next stage.

Objective: Entitle land in regions of the country that desire growth and realize typical increases in value created by the process.