Orange County NC Website
Browse       Search
26 <br /> HOUSING IN ORANGE COUNTY <br /> How Might Zoning Reform Affect. .. <br /> Neighborhoods Versus a Region Overall? <br /> • Zoning reform's impacts are localized: They impact the neighborhoods <br /> where they are implemented. <br /> • But construction doesn't automatically follow! Construction is only <br /> feasible under the following circumstances: <br /> 1. Zoning change produces a large difference between a parcel's current built <br /> ("improvement") value and its potential built value. <br /> 2. A neighborhood has high enough rents or home values to cover the costs <br /> associated with new construction. <br /> 3. The real-estate market overall is profitable to investors at a return equivalent to, <br /> or higher, than other types of investment. <br /> I N S T I T U T 1 <br />