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Innovative Development Opportunities Abound In Philadelphia Commercial Land Condominiums
Condominium development has been around since the 1960s and has ramped up in recent years. Within larger parcels where multiple structures or different uses are planned, developers in the greater Philadelphia area are increasingly turning toward a newer form of joint ownership of property to develop large projects: the horizontal, or land, condominium. While the appetite for building new vertical residential condominium buildings in Philadelphia has slowed since the onset of the pandemic, many commercial developers are now considering early on whether applying a land condominium regime makes sense for integrated development projects.
The basic condominium concept is that a person or a company owns their individual unit within the condominium, and together with their fee ownership of their individual unit, the owner has a proportionate undivided interest in the entirety of the common elements of the condominium. Collectively, all of the owners in the condominium own 100% of the common elements of the condominium. Think, for example, of a vertical residential condominium tower: a person owns their own unit within the building, and all of the owners together own the common parts of the building such as hallways, the elevator bays, and the reception areas on the ground floor. Instead of paying rent to a landlord, the owner of the unit pays their own mortgage and pays condominium fees to a unit owners association established for the maintenance of the common elements of the building.
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New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
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Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.