Public Land Use Constraints: Lot and House Configuration

Peter F. Colwell () and Tim F. Scheu ()
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Peter F. Colwell: Department of Finance University of Illinois-Urbana-Champaign Urbana, Illinois 61821, http://www.cba.uiuc.edu/finance/
Tim F. Scheu: Department of Finance Western Michigan University Kalamazoo, Michigan 49008, http://www.hcob.wmich.edu/fcl/

Journal of Real Estate Research, 1998, vol. 16, issue 2, pages 201-218

Abstract: The public sector constrains the size and shape of lots and buildings via zoning ordinances and subdivision regulations. Zoning ordinances utilize setback requirements, open space ratios, minimum lot area and floor-to-area ratios. Subdivision regulations utilize street and sidewalk spacing requirements. This article provides a framework in which one can analyze the precise impact of these control devices. The choice of developers who face these controls is discussed in terms of a rule of thumb and in terms of a model of profit maximization.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1998
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