Glossary

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Open Space
An open space is described as a portion of land within a planned community that is undeveloped or is considered a common area. Examples of common areas include parks, jogging paths, walkways, lakes and other natural surroundings. Open space can be currently undeveloped but reserved for future common area development. For example, a large open space in a master-planned community may be reserved for future expansion of an existing clubhouse. Common areas are an important feature for residents who own homes in planned communities. Homeowners within planned communities are typically required to pay regular association fees, which cover the maintenance of common area amenities such as swimming pools, fitness centers and golf courses. Therefore, open spaces are a positive feature to have in master-planned communities. Whether the open space remains undeveloped for natural conservation or developed for the benefit of residents, a sufficient amount of open space is a benefit.