Mid-rise, High-rise, Garden Definition

[NC Appraising]

I got stipped from a UW wanting me to change mid-rise to a garden. I have never found any definitions from Fannie Mae, until now.

I have always used "Garden" as being a one story attached multi unit building with some having a lower lever, below grade. ***I tried researching my old appraisal books and M&S to see where I came up with that definition, but was not able. Any help would be appreciated. (I thought it came from M&S, could be wrong)


I do not think many knew that Fannie had definitions for the below, was a surprise to me.

[URL]https://www.fanniemae.com/singlefamily/condo-project-manager[/URL]


[URL]https://www.fanniemae.com/content/release_notes/cpm-release-notes-07202013.pdf[/URL]

If any body has access to the above, please cut and paste if the definitions has changed. They are hyperlinked.

Fannie Mae:

Garden: Multi-unit building in which each unit has it's own entrance to the outside.

Mid-rise: Multi-unit with 3-5 floors.

High-rise: Multi-unit with 6 or more floors



PMI:

Condominium projects can be high-rise, mid-rise, garden, or
townhouse style. ​

High-rise units are arranged vertically, one on top of the other, require elevators, and can accommodate as many stories, typically ten or more, as is structurally possible in order to utilize the land with maximum efficiency in an urbanized area. ​

Mid-rise units range from four to nine stories in height, generally have a front entrance and lobby, common corridors, and covered parking. ​

Garden
and low-rise projects are generally no more than three stories, have common walls, and are built around a central courtyard or face some form of landscaped area.​

Townhouse units are attached via common walls and have individual entrances. Many offer patios and garages or covered parking.​

Appraisal Institute Using the 1073:​

Garden: an apartment development of two-three walk up structures built in a garden like setting. ​

Mid-rise: 7-25 stories; other definitions would say 4-9 stories.​

High-rise: Modern elevator apartment building, usually a tall building.​

That being said, I will use Fannie Mae's from now on. ​

 

[HF Mudd]

I think that local markets should influence the definition of mid-rise and high-rise.

For example, in Manhattan calling a 6 story building a "high-rise" would be laughable.

 

[Randolph Kinney]

Thanks. Nice to know the "official" definitions and the sources.

 

[NC Appraising]

I think that local markets should influence the definition of mid-rise and high-rise.

For example, in Manhattan calling a 6 story building a "high-rise" would be laughable.

I agree with you, but with the UAD, Computer QC, Stiping UW's and AMC Monkey check list reviewers.... If I can send them, in writing from the horses mouth....less fussing and fighting....and future stips (we can only hope).

Less stips equals less gray hairs. Some fights are just not worth fighting for.