Making Markets for Development Rights Work: What Determines Demand?

Elizabeth Kopits, Virginia McConnell and Margaret Walls

Land Economics, 2008, vol. 84, issue 1, 1-16

Abstract: This paper estimates developers’ demand for Transferable Development Rights (TDRs) in one of the few long-standing active TDR programs in the country, Calvert County, Maryland. We find that baseline zoning is a critical determinant of TDR use—demand is lower in the relatively high-density residential areas than in the low-density rural areas. Changes in baseline density limits have a larger effect on TDR use in rural areas than in residential and town center areas. We identify subdivision characteristics that are significant in explaining TDR use and discuss implications for other jurisdictions considering revisions to, or adoption of, TDR programs.

JEL-codes: Q24 R11 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (11)

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Related works:
Working Paper: Making Markets for Development Rights Work: What Determines Demand? (2005)
Working Paper: Making Markets for Development Rights Work: What Determines Demand (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:84:y:2008:i:1:p:1-16

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