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indudin§: <br /> <br /> age dive~siW at,he neighborhood scale <br /> <br /> demographic se§merits of the population. <br /> The s~ie. configuration, and availability of <br /> <br /> re§(ons, often with [ess differendafion in <br /> <br />· Zone for a diverse range of housing types <br /> in the [oca~ market, and For options that <br /> accommodate the full life c¥cie. <br /> <br /> mix within individual neighborhoods and <br /> between projects, adding Iiexibiiity for sec- <br /> coach houses on s[ngJe4ami[y lots. and <br /> <br />AN ADDED WRINKLE: ZONING FOR <br />DOWNTOWN AND TOWN CENTER <br />REDEVELOPMENT <br />The frequency of market feasJbiJi~/references <br />in requests for proposals (RFPs) for planning <br />studies suggests a growing acceptance of it <br />within mainstream pianning practice. Still, a <br />demonstrated market demano for a use does <br /> <br />example, if there is community demand For a <br />specific type of town house at the $2o0.ooo <br /> <br />if deve(opment costs allow for a reasonaPLe <br />Level of profit. A typical market anaivsis will <br /> <br />of a product, it does not consider the logistics <br />or cost of producing it. <br /> Economic Feasibility analysis goes one <br />step further than market anaiysis by examin- <br />ing the balance between devmopment costs <br />and the revenue associated with undertaking <br />a specific type of project in a specific location <br /> <br />Sic redevelopment initiatives. In addition to <br />Ihe direct benefits created by these invest- <br />ments, anecdotal evidence From realtors in <br />the Chica§o metropolitan market suggests <br />that communities with thriving downtowns are <br /> <br />buyers, even those Iookin§ in sing!e-tamiJy <br /> <br /> While many downtown revitalization <br />efforts are primarily dhven by s desire to <br /> <br />environment with activity throughout muc:~ of <br />the day. Less widely discussed (s the role of <br />multiPamily and a~ached residential in making <br /> <br />almost always dnves economic feasJbiJi~. <br /> <br />afro,s, and it m~uires an understandin~ of th~ <br />economic d~ffefences baleen ~reenfield <br /> <br />THE ECONOMICS OF GREENFIELD <br />DEVELOPMENT <br /> <br />than greenfield proiects. For e~xampte, when <br /> <br />a residential subdivision the developer must <br /> <br />profit to justin/~e developer's effort and dsk. <br />the land purchase pnce they can pay ~he owner. <br /> <br />mode( coiled a residual land value analysis. <br /> <br /> in the ~reenfield example. [t is. theored- <br /> <br />deve!oper if the residual [and value from the <br />proposed residential proiect exceeds the agricul- <br />tural value of the site. l'nemfore, the basic eco- <br /> <br /> units at a high enough price point and 2) the <br /> <br /> rain existin~ buildin§s or other improvements <br /> use. This va[ue is analogous to the agricultural <br /> <br />ZONIN GpRACT]CE z. oa <br /> <br /> <br />