Master-planned Community

Definition of "Master-planned community"

The definition of a master planned community in real estate is a community planned from the ground up with the purpose of being as convenient, aesthetically appealing and luxurious as possible, all while being exclusive and secure. Master planned communities are often gated, meaning that unwanted visitors are not often a problem and have an HOA

 

Master planned communities often constitute entire communities of their own, although they are sometimes unincorporated. Despite their lack of title as cities, these communities are usually well equipped, boasting all the conveniences of other cities such as shopping markets, medical clinics, shopping malls and movie theatres. 

 

Generally, master-planned communities are carefully planned from the early stages of the project. This is why it is easier to build a master-planned community on undeveloped land. And, much like how it’s easier to create a painting on a blank canvas than one that’s already been painted on, the same applies to a master-planned community.

The history of Master-planned Communities

The idea of master-planned communities has been around from long before the settlers moved to the New World as there are countless cities built after a master-plan even in Egypt. Europe has many master-planned cities but as the surface of the land in the areas where more housing was needed grew smaller as more and more land was used, less was available as blank canvases. However, when the European settlers came to the New World, seeing all the undeveloped land at their disposal, the idea to create master-planned communities came back.

Why are master planned communities constructed?

The foundational principle behind master planned communities is the use of professional and ubiquitous city planning to avoid problems with the right of way, building codes and aesthetic disparity often seen in typical neighborhoods. Master planned communities are usually aesthetically coherent, containing homes built to a uniform standard of development. 

 

Another benefit that the best master-planned communities in the country offer is transportation infrastructure. Whereas normal neighborhoods are often constructed with little regard for the right of way and public easement, master-planned communities usually boast wide roads, rigid adherence to roadside easements and other accommodations to make transportation less of a hassle. 

 

Master planned communities are usually constructed with middle or upper class residents in mind, offering a refined, dignified style of living to those who seek residency there. To this end, most master planned communities offer an impressive array of amenities, often including a communal pool, common clubhouse, public canals and other amenities. 

 

Finally, master planned communities are often gated, making it difficult for intruders to make entry. This helps to keep personal belongings and loved ones safe from any who don’t claim residency in the community, aside from other ways in which you can make your home safe. Residents live in these gated communities with peace of mind and a sense of security that few other communities have. 

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Capitalization rate used to convert the expected income derived from a property into its estimated asset value. The estimated asset value may be computed by dividing the annual income ...

One-time charge assessed by a bank or other financial institution at the closing of buying real property. The fee increases the effective cost to the borrower. One discount point translates ...

Marketable title that is free of encumbrances and disputed interests. Clear title is essential in order to convey a general warranty deed in a transaction. ...

Projecting what the total cost would be to construct a structure. Costs include material, labor, and lawyers' fees. ...

In real estate, Attractive Nuisance is how insurance companies classify something that is inherently dangerous and particularly enticing to children. A hazard located within a property that ...

A zero lot line is a term in residential real estate that refers to houses that are either very close to or at the edge of the property line. These houses are also called zero lot line ...

A legal procedure to sell a mortgage property to the highest bidder in order to satisfy a mortgage claim from a mortgagee against the value o the property. A foreclosure sale can occur from ...

Storage of inactive items, including automobiles, for a certain period. Normally, a storage facility, charging a fee, provides dead storage of items. To prevent deterioration, dead ...

Special tax incentive for the continued use and rehabilitation of historical buildings and old structures in an effort to arrest urban decay. Developers receive a credit based on a ...

Popular Real Estate Questions