Quote:
Originally Posted by you&me
I mentioned this earlier - a property is worth more if zoned for highest and best use. Take two properties currently and the one zoned for multiple units will be worth more than the one strictly zoned for a single dwelling, all else being equal... Could being zoned for highest and best use cause prices to rise, or because it's across the board, status quo remains?
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I think removing a zoning premium is a likely outcome here, and one of the big benefits. Right now if you can get land rezoned for multi family it trades at a premium because there isn't much of it available.
If all the land is zoned RCG the supply of RCG land goes way up and the price premium for that land should go down. That's another way you've lowered the cost of developing new supply.
I'd still expect MC/MH zoned land to trade at a premium because it isn't seeing new supply here.