Article

The Economics of New Urbanism and Smart Growth: Comparing Price Gains and Costs between New Urbanist and Conventional Developments

Yan Song and Mark Stevens

in The Oxford Handbook of Urban Economics and Planning

Published in print December 2011 | ISBN: 9780195380620
Published online September 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780195380620.013.0023

Series: Oxford Handbooks

 The Economics of New Urbanism and Smart Growth: Comparing Price Gains and Costs between New Urbanist and Conventional Developments

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Smart Growth, New Urbanism, and other land-use reforms are ever-growing trends altering the style of sprawling residential developments throughout the United States. Deeply rooted in traditional concepts of town and neighborhood planning, design, and development, New Urbanist communities are based on the principles of walkability, connectivity, mixed land uses and diversity, mixed housing types, quality architecture and urban design, traditional neighborhood structure, increased density, multiple transportation choices, sustainability, and quality of life. This article provides a discussion on how to assess the values and costs of New Urbanist features. In the analysis prsented in this discussion, the article reviews the history of the New Urbanism movement and a list of amenities that New Urbanists attempted to deliver. It then explores the values and costs of New Urbanist features in comparison to conventional developments. Finally, it identifies understudied areas regarding the economics of New Urbanism and subsequent future research questions.

Keywords: Smart Growth; New Urbanism; land-use reforms; residential developments; neighborhood planning

Article.  7657 words. 

Subjects: Economics ; Urban, Rural, and Regional Economics

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