A to Z · 1055 Terms

Real estate & finance, demystified.

The jargon can be exhausting. Here’s a plain-English glossary covering real estate, lending, investment, and the business-finance ecosystem that surrounds them.

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Commercial Leasing

Warm Shell

A leased space with MEP systems installed but no interior finishes.

Construction & Development

Adaptive Reuse

Converting an existing building to a new use — e.g., warehouse to lofts.

Construction & Development

Bidding

The process by which contractors submit price proposals for a defined scope of work.

Construction & Development

Brownfield Site

Land previously developed and possibly contaminated, often requiring remediation.

Construction & Development

Certificate of Occupancy (CO)

A local government document certifying a building is safe and ready for occupancy.

Construction & Development

Change Order

A modification to the original construction contract, often with cost and schedule impacts.

Construction & Development

Construction Loan

Short-term financing used to build a structure, typically converted to a permanent loan upon completion.

Construction & Development

Cost-Plus Contract

Contractor is paid actual costs plus a markup or fee.

Construction & Development

Critical Path

The longest sequence of tasks that determines a project’s minimum duration.

Construction & Development

Design Development (DD)

Mid-stage drawings refining materials, systems, and details.

Construction & Development

Entitlements

Government approvals (zoning, permits, density) that grant the right to develop a property.

Construction & Development

Feasibility Study

An analysis determining whether a proposed development is financially and physically viable.