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SGS Economics and Planning Marcus S

Who owns the development rights in our cities?

Insights

Land development rights are in reality a public asset and should be capable of being exploited only where accompanied by a fair value commitment to improvement of the public realm, including for example through the delivery of more social or affordable housing. Part of the value added from increases in the value of development rights (e.g. as a result of re-zoning or infrastructure improvements) should be re-directed from the seller to the community. This could be done without either increasing the cost of development, or the cost of housing.