Mixed-Use Development

The term mixed-use development typically refers to a real estate development that includes two or more of the following components: transient lodging, [Page 834]individually owned real estate, retail, commercial, and sport/leisure amenities. Transient lodging is defined as rented accommodations and spans all constructed lodging types from hotel rooms and suites to apartment-style accommodations with kitchens and living rooms in addition to one or more bedrooms and bathrooms. Typically, the transient lodging component includes service levels comparable to resort hotel accommodations such as concierge and valet, as well as the customary housekeeping, front desk, on-site security, parking facilities, gathering places and meeting spaces.

Individually owned real estate may be single family homes, condominiums, or shared ownership (timeshare) accommodations that are fully owned by the tenants, rather than ...