- A property that must be acquired because it is essential to the development of land, either because of its strategic location or the timing of the acquisition.
property, desirable land, real estate
Related Terms and Acronyms
- Building Moratorium — Definition,
- A temporary or permanent halt on construction.
- Building Permit (BPmt) — Abbreviation,
- Authorization by a local government to construct or repair a structure.
- Commercial Property — Definition,
- A parcel in a district zoned for business.
- Contiguous Lots — Definition,
- Pieces of real estate that are next to each other.
- Controlled Growth — Definition,
- A set of restrictions set by local government that governs the amount, type and density of new construction.
- Developer — Definition,
- To develop or create something.
- Companies that buy land and put up buildings for rent or sale.
- Land Lot — Definition,
- A piece of land owned by an individual or entity.
- Not in My Backyard (NIMBY) — Acronym,
- Opposition from residents for proposed buildings or structures in a neighbourhood.
- Plat — Definition,
- A map that shows a parcel of land and how it is subdivided into individual lots. Plat maps also show the locations of streets and easements.