Center City zoning and its relationship to land sales not straightforward

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Land sales are often evaluated horizontally, but square feet are not created equal when you factor in zoning rules. Market East parcels are commanding higher per-square-foot prices that Market West based on parcel size alone. When each site’s total developable square footage is calculated on a FAR basis, Market West wins out.

The inconsistency indicated that zoning does not drive pricing to the same extent as location and the site’s current context.

Center City zoning and its relationship to land sales not straightforward