What is Vacancy?

What do we mean by vacancy?

Whether in decline, temporarily unfit for use, difficult to use or awaiting a specified future development, vacant spaces are spaces in states of limbo between prior and future uses.

Vacant spaces include:

  • Land in a “holding pattern” or being “land banked”, awaiting conditions (economic, financial, personal, etc.) to be ripe for redevelopment,
  • Portions of buildings that are temporarily unoccupied, including spaces for lease,
  • Rooftops and walls that cannot be permanently occupied, and
  • Awkward spaces for which permanent occupants are difficult to find.

%d bloggers like this: