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This development pattern is centered around the idea of "live, work, play," transforming buildings and neighborhoods into multi-use entities. Efficiency, productivity, and quality of life are also increased with regards to workplaces holding a plethora of amenities. [17] Examples include gyms, restaurants, bars, and shopping.
Multifamily residential, also known as multidwelling unit (MDU), is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. [1] Units can be next to each other (side-by-side units), or stacked on top of each other (top and bottom units).
A residential cluster development, or open space development, is the grouping of residential properties on a development site to use the extra land as open space, recreation or agriculture. It is increasingly becoming popular in subdivision development because it allows the developer to spend much less on land and obtain much the same price per ...
A planned unit development (PUD) is a type of flexible, non-Euclidean zoning device that redefines the land uses allowed within a stated land area. PUDs consist of unitary site plans that promote the creation of open spaces, mixed-use housing and land uses, environmental preservation and sustainability, and development flexibility. [1]
Multi-unit residential dwellings typically break down as follows: acquisition costs, 7%; site improvement costs, 8%; labour costs, 27%; materials costs, 33%; finance costs, 3%; administrative costs, 17%; and marketing costs, 5%. Public-subdivision requirements can increase development costs by up to 3%, depending on the jurisdiction.
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.
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