planned unit development (PUD)

planned unit development (PUD) definition - business

planned unit development (PUD)

A development project or subdivision with individually owned units plus common property that is owned and maintained by an association of property owners. Planned unit developments have a comprehensive development plan, and buildings are often on smaller lots in order to free more common space.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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