Air rights refer to the right to use, control, or occupy the vertical space above a designated piece of property. These rights can often be leased, sold, or donated to another party, making them a valuable asset in urban development and real estate transactions.
The process of changing the ownership structure of a building from a single owner to multiple owners, each owning individual units, typically through a legal and regulatory framework.
Gentrification refers to the process by which higher-income individuals displace lower-income residents in a neighborhood, often occurring when an older area undergoes revitalization.
Housing and Urban Development (HUD) is a cabinet-level U.S. government agency established in 1965 to implement federal housing and community development programs. The Federal Housing Administration (FHA) is a part of HUD.
The Housing and Urban Development Department (HUD) is a U.S. government agency designed to ensure fair housing standards and affordable housing across the country.
Land banking refers to the process of purchasing land that is not currently needed for use but is expected to be utilized or gain value in five to ten years. This practice is often employed for real estate investment and urban development purposes.
A metropolitan area is generally a developed region that is economically attached to a large central city, encompassing towns, suburbs, and other peripheral areas.
Rurban areas are regions on the fringe of urban development that are in the process of being developed for urban uses.
Vacant land refers to land not currently being used for developed purposes. It might have utilities and off-site improvements but lacks significant buildings or structures.
