holdout

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Holdout

A homeowner (often the only one) who refuses to sell to make way for a new development. For example, if a company attempts to buy all the houses in a neighborhood to make way for a shopping center, a holdout is the one who does not sell. Holdouts can force the buyer to abandon or redesign the project.

holdout

A property owner who refuses to sell to a developer who is purchasing a number of separate parcels in order to put them together—an assemblage—for development. Sometimes the practice results in an offer vastly in excess of market price,because the holdout controls the success of the entire project.Other times, developers go back to the drawing board and redesign the project, leaving the holdout with no offer at all and what could turn into very unpleasant living conditions due to being surrounded by parking lots and 24-hour high-intensity lighting.Developers often avoid the problem by purchasing options rather than properties,so that if a critical property owner refuses to sell,the developer can abandon the entire project with a minimal expenditure.

References in periodicals archive ?
beer market of the '60s and '70s, but the old-line breweries eventually stopped making bock (except for a few hold-outs like Genesee).
We are happy that more than 90 percent of Texans obey the law and buckle up, but we're pulling out the stops to reach pickup drivers and passengers, teen drivers and other hold-outs who haven't gotten into the habit of using their safety belts," said John Barton, TxDOT's Assistant Executive Director for Engineering Operations.
Japan and Canada were regarded before the summit as potential hold-outs on the climate issue, diplomats and environmental campaigners said.
Participants also exchanged views on the situation regarding Argentina s external debt restructuring and notably on the treatment of hold-outs.
Before dawn, security forces fired a series of ''warning blasts,'' ratcheting up pressure on the hold-outs to surrender.
In raids that began after midnight, US troops rounded up dozens of people, smashing down doors to surprise residents in their search for weapons and rebels in hold-outs of Saddam loyalists.
As imported case goods have flooded the industry, Stanley has been one of the hold-outs, producing all its finished goods domestically.
For the Ba'athist hold-outs largely responsible for the current violence there will be no return to the corrupt power and privilege they once held.
Any upgrades from this bunch of hold-outs due to last night's solid earnings report could add the needed fuel for BEAS to finally crest overhead resistance.