NDLI: Neighborhood spillover effects between rezoning and housing price

Content Provider	Springer Nature Link
Author	Cho, S. Kim, J. Roberts, R. K. Kim, S. G.
Copyright Year	2010
Abstract	The objective of this research was to investigate neighborhood spillover effects between rezoning of vacant parcels and housing price in the Knoxville, TN area. The study is unique in that it correctly highlights the need to analyze the dynamics of zoning structure and accommodates the neighborhood spillover effects associated with the real estate market. Results indicate that the probability of rezoning vacant land is expected to increase as housing price in a neighboring location increases. The rise in the housing price in a neighboring location implies increasing pressure on housing demand. This increased pressure on housing demand likely contributes to greater demands for residential development and commercial development that complements residential use. Currently, the major guidelines for the approval of rezoning petitions, according to the planners in the Knoxville area, are consistency with long-and short-range land use plans adopted by state, municipality, and county governments, and consistency with surrounding land use and environmental constraints, e.g., slope, flooding, and drainage. Local planning authorities can modify and update consistency measures in the current guidelines by accounting for varying degrees of housing demand pressure. For example, consistency measures can be strengthened in areas with greater housing-price increases, if preservation is desirable because these areas are likely to experience greater rezoning pressure.
Starting Page	301
Ending Page	319
Page Count	19
File Format	PDF
ISSN	05701864
Journal	The Annals of Regional Science
Volume Number	48
Issue Number	1
e-ISSN	14320592
Language	English
Publisher	Springer-Verlag
Publisher Date	2010-08-24
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Environmental Economics Landscape/Regional and Urban Planning Regional/Spatial Science Geography (general) Microeconomics
Content Type	Text
Resource Type	Article
Subject	Social Sciences Environmental Science

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