In the context of urban development, mixed-use projects are becoming increasingly common. To a greater extent municipalities require residential projects to include commercial and/or office components in order to receive the benefit of higher density allocations. These projects must consider the interplay between the various types of uses, and clearly identify and distinguish the requirements and limitations associated with each category of uses in terms of base building services, amenities, parking and other services.
Our team of leading professionals is regularly involved in complex projects and can discern the key elements that require careful consideration to make our clients' projects successful. We have years of expertise in using complex ownership structures, from ground leases, air rights, complex and often multi-layered co-ownership agreements to shared services, reciprocal easements for airspace parcels, strata by-laws, operating agreements and all manner of related servitudes and easements.
We help developers identify the most efficient and flexible ownership structure for mixed-use projects to ensure the autonomy and liquidity of all the components, while protecting and maintaining developer control over those portions of the project it intends to retain. We structure projects to take into account phasing requirements and find solutions to enable developers to monetize early portions of the project and finance its ongoing development.
Fasken Martineau's lawyers propose documentation that is clear and concise to set out the rights and obligations among the various components and ensure the long-term viability of the project's different uses while minimizing opportunities for conflict.
We act for major real estate investors and developers; pension funds; financial institutions and lenders; real estate investment trusts (REITs); real estate investment funds and institutional investors; private equity funds and sponsors; insurance companies; crown corporations and public and quasi-public entities; office and retail landlords; major tenants; builders, owners and managers of hospitality properties; and developers of commercial, multi-residential, mixed-use, industrial and office properties.
We are passionate about investing in the future. We encourage start-up companies, whether as owners, investors, operators or developers, and also work with existing blue chip investors and development companies.
- Ownership structures, including co-ownerships
- Ground leases, superficies, air rights, servitudes and easements
- Emphyteutic leases
- Shared services and operating agreements
- Cross-servitudes and hypothecs
- Horizontal and vertical condominiums, both for residential and commercial uses
- Governance of condo syndicates, assemblies of co-owners and interactions among owners of various components of a mixed-use project
- Management agreements