A condominium can provide greater flexibility to a developer and avoid subdivision and site plan issues, and may permit a developer to capture pieces of the market that it would not otherwise be exposed to if the developer were only creating space for lease. Several of our attorneys are experienced in drafting condominium documents for mixed use commercial, residential, age-restricted and mixed use projects. We realize that our carefully drafted condominium documents will be part of your marketing plan. We can advise you as to the options permitted by law and guide your project through the statutory and regulatory requirements.
Covenants for planned unit developments and mixed use developments require a careful balance between the need for flexibility to accommodate future uses, the need to protect the value sought by today's purchasers and tenants, and the need to ensure that the development will meet all requirements imposed by lenders. Our attorneys know what questions to ask to understand your marketing goals and can craft documents to meet your needs. We have drafted and negotiated protective covenants for numerous office parks, retail centers, industrial parks and large residential developments.
Previous representations include preparing master and sub condominium project documents for a large mixed use, expandable, leasehold condominium for a mixed use project, a "lollipop" mixed use condominium (where the lower floors were excluded from the condominium), master residential planned unit development documents with subcondominium and townhome components, and two-unit commercial and residential condominiums.