An income producing activity with a transit nexus related to a real property asset . joint development projects can be commercial residential, industrial or mixed-use developments that are induced by or enhance the effectiveness of transit projects.
In more general terms a joint venture or joint development is a business agreement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. Their task can be a new project or any other business development activity whereby each partner is responsible for profits, losses and costs associated with it.
