Land Held for Development definition

Land Held for Development means Entitled Land being held for development which is zoned to permit single-family residential development (attached or detached) as a use by right (or comparable classification under local law) but which is not developed.
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Land Held for Development means Entitled Land which is not being presently developed.
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Land Held for Development means any unimproved Real Estate Asset which is not Land under Development.
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Examples of Land Held for Development in a sentence

  • The sum of (i) the Development Project Value and (ii) the Land Held for Development Value shall not exceed 10% of Total Value.

  • The Borrower shall not engage in any development activities other than (i) Development Projects, (ii) development of pre-leased "build-to-suit" improvements, (iii) development in connection with the repositioning, or restoration following a casualty or condemnation of existing improvements on Real Property Assets or (iv) development of Land Held for Development to the extent permitted under Section 5.9(j) hereof.

  • The Land Held for Development Value shall not exceed 5% of Capitalization Value.


More Definitions of Land Held for Development

Land Held for Development means land acquired and held for future development but which does not constitute Construction in Process.
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Land Held for Development means (i) Real Property Assets upon which no material construction of material improvements has been commenced; all such Real Property Assets that constitute Land Held for Development will continue to be deemed Land Held for Development until such time as the chief financial officer or chief accounting officer of Borrower and/or the Company shall certify to the Administrative Agent that material construction of material improvements has commenced thereon; and (ii) Real Property Assets upon which development of improvements has commenced but which are 50% or less pre-leased; all such Real Property Assets that constitute Land Held for Development will continue to be deemed Land Held for Development until such time as the chief financial officer or chief accounting officer of Borrower and/or the Company shall certify to the Administrative Agent that the improvements thereon are greater than 50% pre-leased.
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Related to Land Held for Development

  • Cluster development means a subdivision with lots clustered in a group of five or more lots that is

  • Major development means an individual “development,” as well as multiple developments that individually or collectively result in:

  • Lots Under Development means all Land Held for Development with respect to which the Borrower or any Subsidiary Guarantor has obtained all necessary approvals for its subdivision for residential housing units (including condominium units), and which the Borrower or any Subsidiary Guarantor is actively developing into Finished Lots; provided, however, that the term “Lots Under Development” shall not include any land upon which the construction of a residential housing unit has commenced.

  • Housing development as used in this section, means a development project for five or more residential units, including mixed-use developments. For the purposes of this section, “housing development” also includes a subdivision or common interest development, as defined in Section 4100 of the Civil Code, approved by a city, county, or city and county and consists of residential units or unimproved residential lots and either a project to substantially rehabilitate and convert an existing commercial building to residential use or the substantial rehabilitation of an existing multifamily dwelling, as defined in subdivision (d) of Section 65863.4, where the result of the rehabilitation would be a net increase in available residential units. For the purpose of calculating a density bonus, the residential units shall be on contiguous sites that are the subject of one development application, but do not have to be based upon individual subdivision maps or parcels. The density bonus shall be permitted in geographic areas of the housing development other than the areas where the units for the lower income households are located.

  • experimental development means acquiring, combining, shaping and using existing scientific, technological, business and other relevant knowledge and skills with the aim of developing new or improved products, processes or services. This may also include, for example, activities aiming at the conceptual definition, planning and documentation of new products, processes or services;