Many cities see upzoning as an effective way to increase density and affordable housing, but how does it affect property values and land use? Join RAC member Byron Miller, SRA, AI-RRS, RAA, as he lends his expertise, along with insight of his home town of Minneapolis, to In the ZONE by Peter Haapaniemi.
In Minneapolis, according to Mr. Miller, traditionally, highest and best use for a single-family residence could be readily determined by using the two basic criteria of legal permissibility and physical possibility. But the potential to build multifamily units makes it necessary to factor in financial feasibility and maximum productivity.
Read the full Valuation Magazine article here.