THE IMPACT ON DEVELOPMENT FEASIBILITY OF CONTAINMENT POLICIES IN CENTRAL BUSINESS DISTRICTS

William R. Code

Papers in Regional Science, 1987, vol. 62, issue 1, 81-92

Abstract: ABSTRACT In many of the world's large cities it has become common practice to contain the physical dimension of central business district commercial development. These policies are among the must far‐reaching of urban land use planning, but nevertheless have not been subject to systematic evaluation. This paper examines tine component of the impact of the major downzoning within Toronto's downtown. In so doing it provides an example of a method for assessing policy impact on development feasibility in a market economy. It introduces a computerized development feasibility model which enables detailed input of parameters and produces a variety of both before and after tax yields in order to assess the effect of policy on yield, rent, creation cost, and land value. The paper measures the countervailing impacts of density restrictions and containment‐induced rental increases. It also measures the value which the containment strategy in Toronto has given to bonusing and linkage arrangements.

Date: 1987
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https://doi.org/10.1111/j.1435-5597.1987.tb01055.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:presci:v:62:y:1987:i:1:p:81-92

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