The Economics Of Inclusionary Development

URBAN LAND INSTITUTE

24 August, 2016

Whereas many U.S. cities have experienced a post-recession economic revival, the accompanying run-up in housing costs is threatening to undermine this success by pricing workers out of cities, lengthening commutes, and diminishing livability, the report notes. As a result, local officials are turning to inclusionary zoning (IZ) as a way to combat the shortage of housing that is affordable to moderate- and lower-income workers.

IZ policies take a market-based approach to affordable housing development by requiring or incentivizing the creation of below-market-rate units in exchange for approval of a market-rate project. Inclusionary zoning leverages private development to achieve a public benefit.

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The Economics Of Inclusionary Development