real estate Flashcards
What are the main types of property generally recognized?
Residential, Commercial, Industrial
These categories help in understanding the types of developments allowed.
What is Zoning?
The process of dividing land in a municipality into zones for permitted or prohibited land uses
It defines how land can be used in specific areas.
What complexity arises in zoning?
Zoning becomes complicated as each type of property is broken down into multiple specific types of ‘Zones’
Examples include RSC3(18) and RSC4(16).
What additional dimensions does zoning indicate besides land uses?
Size and dimensions of land area, form and scale of buildings
This is essential for urban planning.
What is Urban Planning?
A technical and political process concerned with the development and design of land use and the built environment
It includes considerations for infrastructure such as services and transportation.
Why is zoning important for development opportunities?
It determines what the local municipality wants you to build
Every development proposal must be approved by the local municipality.
What documents control zoning in the City of London?
Zoning By-law No. Z-1, The London Plan
These documents guide the urban planning vision.
What does the Zoning By-law No. Z-1 regulate?
How land and buildings are used, location of buildings, lot coverage, building heights
It ensures proper development within the municipality.
How many sections does the Zoning By-law No. Z-1 consist of?
51 sections
Each section pertains to a specific type or use of property.
What information do the tables in the zoning sections provide?
Specific information on frontage, setbacks, lot coverage, building heights, and building sizes
This is crucial for understanding zoning regulations.
What is the purpose of The London Plan?
To outline the city’s urban planning vision and objectives
It guides future development in the city.
What is London’s objective regarding urban growth?
To grow inward and upward, increasing residential density in the core
This reflects the city’s focus on sustainable development.
How can knowledge of the city’s objectives assist in property development?
It helps narrow the search for properties aligned with the city’s goals, aiding the approval process
This can enhance the likelihood of development proposals being accepted.
What should students do for the in-class assignments?
Review Module 2 - Real Estate - Assignment 2, Complete and upload as per instructions
This ensures proper understanding and submission of assignments.
What is the next class module focused on?
Interacting with Municipalities
This will cover the relationship between developers and local governments.
