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

Principal highway designed to divert traffic around a major urban area in order to limit congestion and expedite traffic flow. A belt highway is connected to the urban area by main highways ...

The appellant definition references a concept related to legal proceedings. The appellant is the individual who is dissatisfied with the judgment in a lawsuit and asks for a superior court ...

Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take. ...

An increase in the income tax basis of a property that is a result of a tax-free exchange. As a result of an inheritance, for example, the basis of the inherited property was stepped up to ...

Last installment payment, substantially greater than the previous installment payments. The unpaid balance of a long-term loan is paid off in a lump sum at the end of the loan term. ...

Construction materials from stone, brick, and concrete block. Masonry materials play an important role in providing structural support as well as being used as decorative finish surfaces. ...

Tax-free exchange that allows a seller two years after escrow closes on his former principal personal residence to buy like-kind property and defer taxes. Profits from the sale of a ...

Also known as “cap rate” or “income yield”, Capitalization Rate is a useful way to compute the rate of return on a real estate investment. It is commonly used in the ...

Loan guaranty program included in the Servicemen's Readjustment Act of 1944. Its provisions cover the compensation to lenders for losses they might sustain in providing financing to ...

Popular Real Estate Questions