A professional organization of architects, designers, and developers dedicated to advancing the practice of architecture.
A buffer zone is a designated area used as a transitional space between two distinct land uses. This zone helps reduce the potential conflicts and impacts between differing land uses by providing a physical and sometimes functional separation.
A Certificate of Occupancy (C/O) is an official document issued by a local government authority that allows a newly constructed or renovated property to be legally occupied. It confirms that the building complies with all applicable building codes, zoning laws, and other local regulations ensuring the safety and health of occupants.
In real estate terminology, 'contiguous' refers to properties that share a common boundary. These properties are directly adjacent to each other, and their borders touch at some point. This can be particularly relevant in zoning, development, and legal contexts.
Demolition is the process of tearing down and removing an existing structure, typically to clear a site for new development or construction. This can involve a variety of methods, depending on the size, location, and type of construction of the building to be demolished.
Development refers to the process of adding improvements to a parcel of land, which can include drainage, utilities, subdividing, access, and buildings. It encompasses all activities from the preparation of detailed plans to securing government permits and the actual construction.
Highest and Best Use (HBU) is a real estate appraisal term that represents the legally, financially, and physically feasible use that, at the time of appraisal, is expected to produce the highest net return to the land and/or buildings over a given period of time. This concept can be applied whether the property is vacant or already developed.
An office park is a planned development specifically designed to accommodate office buildings and their supportive facilities, such as restaurants and gyms. These parks may be tailored to attract particular types of tenants, including research or medical services.
On-site refers to operations or services performed directly at the location, often related to property management, development, or various other activities.
Plottage refers to the increase in value realized by combining multiple smaller parcels of land into a single, larger parcel. This process is often employed in real estate to optimize land use and maximize profit.
Real Property Trades or Businesses encompass various activities in real estate such as development, construction, rental, and management. For tax purposes, a taxpayer must own an interest greater than 5% in the business for the hours to count toward material participation.
A straw man is an individual who purchases property on behalf of another person or entity to conceal the identity of the actual purchaser. This tool is often employed in real estate transactions to prevent price inflation from sellers realizing the true buyer's identity.
