Friday, November 1, 2019

Northshore Landing Subdivision

Northshore, LLC, filed the below subdivision plat for Northshore Landing, Part 1 earlier this year.




This new subdivision is located on the south side of Fannin Landing Circle east of Arbor Landing.

Here is a map showing where the new development is located relative to the Reservoir and Arbor Landing.



Part 1 includes 49 lots, but future expansion south could happen.

Why does a subdivision plat matter?
  • A new subdivision plat represents the birth of a new neighborhood.  How long will these houses, streets, and neighborhood be here?  50 years? 100 years? More?
  • The subdivided property will be much more densely populated than before and represents a transition from rural property to, you guessed it, suburban property.  This means more families in local schools, sports associations, more people shopping locally, traffic, and growth.  
  • A final subdivision plat such as the plat above requires the approval of the local government, in this case, Rankin County. Upon approval of the plat, the local government generally agrees to accept the infrastructure built by the developer (assuming it meets certain standards) and maintain such infrastructure in the future (i.e. forever). 
  • Since the final plat has been approved (and some houses will be sold) prior to the final improvements being completed (e.g. final asphalt layer on streets), the county or city will generally require the developer provide a performance bond to ensure that the final improvements are completed in the development.   The performance bond legally requires completion of the project by a third party bonding company if the developer fails to complete their end of the deal.  
  • When transferring lots in a subdivision, a deed no longer has to include a lengthy description of the property (e.g. a metes and bounds description) but the property can simply be described as Lot X of Northshore Landing, Part 1, a subdivision filed at plat cabinet E, Slot 189.  Basically, it's much more simple and significantly reduces the need for a surveyor. 
Welcome to all the future families and neighbors in Northshore Landing.  

2 comments:

Anonymous said...

Cool news bro

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