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56 Cards in this Set
- Front
- Back
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Agricultural district
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areas designated for agricultural use
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Apartment & multifamily district
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areas designated for apartment & multifamily use
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Business district
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an area either designated or established with primarily businesses in the area
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Central business district (CBD)
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the core area of business in a city or area
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Commercial district
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an area set aside or designated for commercial ventures
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Community shopping center
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100,000 to 300,000 square feet
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Decline
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the stage of a neighborhood life cylce where property values & rents decline relative to other neighborhoods or districts
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Destination shopping
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retail that attracts shoppers as opposed to convenience shopping
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Displacement
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resident of lower income area moved by gentrification
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District
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group of homogenous use
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Education district
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an area set aside for education facilities
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Environmental hazards/liabilities
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identified or government listed conditions that cause loss in value or stigma to a property
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Environmental property assessment (EPRA)
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also called transactional audit, a study of a property for environmental compliance
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Environmental Protection Agency (EPA)
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the U.S. governmental agency charged with oversight of environmental legislation
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Environmental remediation/cleanup
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effort to make a building &/or site comply with current clean standards as established by law
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Environmental site assessment (ESA)
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studies of environmental impact. Phase I, to identify potential hazards; Phase II, to test if suspected are present; Phase III to quantify
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Gentrification
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rehabilitation of property of higher income people, in lower income areas
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Growth
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a portion of a neighborhood or district cycle where values & and/or rents are rising relative to other areas
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High technology parks
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designated areas of research or high technology development
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Historic district
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designated areas of historical significance, generally protected
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Industrial district
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an area that is set aside for industrial uses
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Innocent purchaser
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one unaware (either actual or constructive) of claims on property
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Joint & serveral liability
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where each and every entity is fully liable for the claim against more than one entity
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Linkages
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time/distance relationship between a use & its supporting use(s)
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Location
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time-distance relationship between subject property & various destinations
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Medical districts
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areas set aside for medical facility development
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Neighborhood
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a group of complementary land uses
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Neighborhood or district boundaries
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the defined area encompassing the neighborhood or district, usually with geographic or use boundaries
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Neighborhood or district life cycle
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growth, equilibrium, decline, & revitalization
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Neighborhood & strip shopping center
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30,000 to 100,000 square feet
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Nuisance
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a man-made or natural problem that interferes with the use &/or value of a property
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Office district
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areas set aside for office development
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Property Observation Checklist
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adopted by AI in 1995 as a checklist for possible environmental problems
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Regional shopping center
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stores built around one or more department stores of at least one hundred thousand square feet each
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Research & development park
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a designated area for research and development of drugs, electronics, chemicals, etc.
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Residential district
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a designated area for residential development
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Revitalization
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a stage of a neighborhood or district, after decline, where renovation &/or redevelopment takes place
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Single-family residential neighborhood
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a defined area of single-family units
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Sitting
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referring to the location of a property (corner or interior) &/or linkages
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Specialty center
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untraditional retail centers such as festival, fashion, outlet mall, discount power, hypermarts, or warehouse clubs
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Stability
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the stage of a neigborhood or district after growth where little or no development takes place & values and rental rates are flat
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Stigmatized property
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one that has a perceived nuisance or environmental problem
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Strict liability
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being held accountable without fault; e.g. purchasers of property with some environmental problems are responsible for cleanup regardless if they caused the problem
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Superfund Amendments & Reauthorization Act of 1986 (SARA)
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passed to remedy problem in CERCLA (1994) wtih strict liability; innocent purchasers are exempt if make proper inquiry into previous ownership & uses
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Superregional shopping center
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store built around at least 3 major department stores of at least 100,000 square feet each
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Time-distance linkage
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time-distance relationships between a property & employment centers, recreation, houses of worship, etc.
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Trade area
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the geographic area that retail has a potential to capture sales
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Environmental liabilities
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1. CERCLA
2. Environmental audits |
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Festival
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caters to impulse buying, has a mix of food & restaurants
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Fashion
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boutiques & high quality clothes
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Outlet
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factory outlet stores
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Discount or wholesale
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similar to community shopping center, but with a discount store as anchor
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Power center
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4 or more anchors
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"Big box" general merchandise
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value retailers
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Hypermart
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similar to community center in selection, but like regional shopping center in market dominance
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Warehouse club
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discount center with dues paying members
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