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Amenities in an Urban Equilibrium Model: Residential Development in Portland, Oregon

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  • JunJie Wu
  • Richard M. Adams
  • Andrew J. Plantinga

Abstract

This paper estimates the effects of reduce water quality, and pollute, disturb open space and other amenities on housing prices or destroy natural habitats for wildlife. and development density in Portland, Oregon, Open space takes many forms. City within the framework of an urban equilibrium parks provide some types of recreational model. Amenities are important: households are and visual amenities. willing to pay more for newer houses located in Greenbelts and ecoareas of less dense development, with more open logical reserves typically are larger than space, better views, less traffic congestion, and city parks and ofter natural, open-space near amenity locations. For the developers, in- areas that provide a broad range of sercreases in housing prices results in providing vices. The experience of cities with ambimore large houses, which will ultimately lead to tious open space policies, such as Porthigher density and lower housing prices. A simu- land, Oregon, and Boulder, Colo rado, lation analysis evaluates policy im plications and suggests that such policies have a signifiindicates substantial benefits from alterations in cant effect on property values. Preserving housing patterns.

Suggested Citation

  • JunJie Wu & Richard M. Adams & Andrew J. Plantinga, 2004. "Amenities in an Urban Equilibrium Model: Residential Development in Portland, Oregon," Land Economics, University of Wisconsin Press, vol. 80(1), pages 19-32.
  • Handle: RePEc:uwp:landec:v:80:y:2004:i:1:p:19-32
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    Cited by:

    1. Lubowski, Ruben N. & Bucholtz, Shawn & Claassen, Roger & Roberts, Michael J. & Cooper, Joseph C. & Gueorguieva, Anna & Johansson, Robert C., 2006. "Environmental Effects Of Agricultural Land-Use Change: The Role Of Economics And Policy," Economic Research Report 33591, United States Department of Agriculture, Economic Research Service.
    2. repec:eee:regeco:v:65:y:2017:i:c:p:104-115 is not listed on IDEAS
    3. Gabriel Ahlfeldt & Alexandra Mastro, 2012. "Valuing Iconic Design: Frank Lloyd Wright Architecture in Oak Park, Illinois," Housing Studies, Taylor & Francis Journals, vol. 27(8), pages 1079-1099, November.
    4. Lichtenberg, Erik, 2011. "Open Space and Urban Sprawl: The Effects of Zoning and Forest Conservation Regulations in Maryland," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(3), December.
    5. Dissanayake, Sahan T.M. & Önal, Hayri, 2011. "Amenity driven price effects and conservation reserve site selection: A dynamic linear integer programming approach," Ecological Economics, Elsevier, vol. 70(12), pages 2225-2235.
    6. Jingfeng Yuan & Xiaodan Zheng & Jia You & Mirosław J. Skibniewski, 2017. "Identifying Critical Factors Influencing the Rents of Public Rental Housing Delivery by PPPs: The Case of Nanjing," Sustainability, MDPI, Open Access Journal, vol. 9(3), pages 1-22, February.
    7. Lin, Haixia & Wu, JunJie, 2005. "Conservation Policy and Land Value: The Conservation Reserve Program," 2005 Annual meeting, July 24-27, Providence, RI 19417, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Abildtrup, Jens & Garcia, Serge & Olsen, Søren Bøye & Stenger, Anne, 2013. "Spatial preference heterogeneity in forest recreation," Ecological Economics, Elsevier, vol. 92(C), pages 67-77.
    9. Cotteleer, Geerte & van Kooten, G. Cornelis, 2012. "Expert opinion versus actual transaction evidence in the valuation of non-market amenities," Economic Modelling, Elsevier, vol. 29(1), pages 32-40.
    10. Marion Girard, 2017. "Organisation spatiale et densités urbaines : une application à l'agglomération du Grand Dijon," Working Papers hal-01630439, HAL.
    11. Jens Kolbe & Henry Wüstemann, 2015. "Estimating the Value of Urban Green Space: A hedonic Pricing Analysis of the Housing Market in Cologne, Germany," SFB 649 Discussion Papers SFB649DP2015-002, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    12. Kelley, Hugh & Evans, Tom, 2011. "The relative influences of land-owner and landscape heterogeneity in an agent-based model of land-use," Ecological Economics, Elsevier, vol. 70(6), pages 1075-1087, April.
    13. Kovacs, Kent F. & Larson, Douglas M., 2005. "Development Patterns and the Recreation Value of Amenities," 2005 Annual meeting, July 24-27, Providence, RI 19149, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    14. Keith Klovers & Alfredo Marvão Pereira, 2015. "Estimating the Effect of Transit on Residential Property Values: The Case of the Portland MAX System," Working Papers 166, Department of Economics, College of William and Mary.
    15. Tatiana Filatova & Anne van der Veen & Dawn C. Parker, 2009. "Land Market Interactions between Heterogeneous Agents in a Heterogeneous Landscape-Tracing the Macro-Scale Effects of Individual Trade-Offs between Environmental Amenities and Disamenities," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 57(4), pages 431-457, December.
    16. Wu, JunJie & Gopinath, Munisamy, 2005. "How Do Location Decisions of Firms and Households Affect Economic Development in Rural America?," 2005 Annual meeting, July 24-27, Providence, RI 19229, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    17. Lichtenberg, Erik & Tra, Constant & Hardie, Ian, 2007. "Land use regulation and the provision of open space in suburban residential subdivisions," Journal of Environmental Economics and Management, Elsevier, vol. 54(2), pages 199-213, September.
    18. Gabriel M. Ahfeldt & Alexandra Mastro, 2011. "Valuing Iconic Design: Frank Lloyd Wright Architecture in Oak Park, Illinois," SERC Discussion Papers 0084, Spatial Economics Research Centre, LSE.

    More about this item

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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