PT  - JOURNAL ARTICLE
AU  - Hardie, Ian
AU  - Lichtenberg, Erik
AU  - Nickerson, Cynthia J.
TI  - Regulation, Open Space, and the Value of Land Undergoing Residential Subdivision
AID  - 10.3368/le.83.4.458
DP  - 2007 Nov 01
TA  - Land Economics
PG  - 458--474
VI  - 83
IP  - 4
4099  - http://le.uwpress.org/content/83/4/458.short
4100  - http://le.uwpress.org/content/83/4/458.full
SO  - Land Econ2007 Nov 01; 83
AB  - We investigate the effects of forest conservation requirements and zoning on the value of land undergoing subdivision. Land prices are increasing in the percentage of subdivision acreage developers are required to keep in forest, suggesting that forest conservation regulations increase the amounts of forested open space that developers provide. Benefits from open-space amenities remain largely internal to the subdivision, so that land market incentives mitigate the justification for open space preservation policies. Consistent with theoretical predictions that zoning promotes sprawl, we find that minimum-lot-size zoning constrains developers of closer-in subdivisions where public sewers are available. (JEL R52)