Dive summary:
- A Boston law firm is advising investors on what they need to look at before they plunge into a project, and it involves many of the same questions developer should be asking themselves.
- Tom Guidi of Hemenway & Barnes in Boston put together the guidelines because of the surge of interest in investing in development again.
- Among Guidi's tenets are location (knowing what else is going on in the area and what might be competition, not just the address), being sure you know who the other players are and trying to get a handle on what surprises, such as infrastructure needs, might come up.
From the article:
"As activity heats up, both parties should avoid rushing into an agreement; laying out the necessary protections will help keep the relationship–and the project–in good standing." ...
