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- Title
Mixed Uses and the Redevelopment Option.
- Authors
Childs, Paul D.; Riddiough, Timothy J.; Triantis, Alexander J.
- Abstract
This paper considers how the potential for mixing uses and redevelopment impact property value. Operating flexibility of this type is found to significantly increase property value when the correlation between payouts from different property types is low or when redevelopment costs are low. The ability to mix uses and redevelop over time is also shown to affect the timing of initial land development. The shape of the development boundary is shown to differ considerably depending on whether marginal revenue is constant or decreasing to scale. Both policy and empirical implications concerning the effects of multiple-use zoning are discussed.
- Subjects
JOINT occupancy of buildings; REAL estate development; PROPERTY; REAL property; TIME; LAND use; PLANNED unit developments; REVENUE management; ZONING
- Publication
Real Estate Economics, 1996, Vol 24, Issue 3, p317
- ISSN
1080-8620
- Publication type
Article
- DOI
10.1111/1540-6229.00693