ROUGH DRAFT:
A very popular method of investing and developing is finding a larger lot that you can sever into two new lots and provide two new dwellings.
The perks of this; assuming that there is an existing house on the original large lot, is you do not have to pay one set of development charges (I will explain further below).
Let's say your REALTOR found you an off-market (exclusive) property for sale. The main thing attracting you to this property is the fact it is a wide lot with 45 ft frontage. Many homes in the area are 25 ft and historically, the city has been approving 50 ft lots being severed into 2x 25 ft lots. After conducting your due diligence, you purchase this lot (outlined in Yellow) for $800,000.
After talking with planners, architects, you are confident you can get it divided into two lots that are 22.5 ft frontage semi-detached.
You have a planner develop plans, a site plan for severing, etc.
At this point, you have developed all of the concept work required to submit to the city for approvals. You've done your due diligence to go in as confident as possible it will be approved. However, when severing lots, there are many variables and can be a risk. It is NOT guaranteed.
Most properties, including semi-detached homes in the immediate area are situated on 25 Ft lot's, you are 2.5ft short and need to apply for a minor variance. A Minor variance is essentially a small variation from the requirements of a zoning by-law. An approval of a minor variance that would allow the owner to obtain a building permit to develop the property even though it's not conforming to the original zoning requirements (EG: minimum 25ft frontage for example).
Assuming you achieve this approval (OMB approved); you may receive an approval subject to conditions. This could be many different things relating to not just the development but locations of tree's that must stay, the closer of lanes, etc.
Assuming you can complete these conditions; you can then submit for your permits to build. This stage would require all of your documentation.
TO BE EDITED AND CONTINUED.