Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017. / Cataloged from PDF version of thesis. / Includes bibliographical references (pages 59-60). / This thesis explores the development potential and land value of a vacant parcel of land listed for sale in Dallas, TX. Further, this thesis proposes three different multifamily rental site plan designs for the parcel in an effort to maximize the value of both the development and the land. The site is located just two blocks from Dallas' popular Bishop Arts retail district. This area has seen a renaissance and has become a desirable location to live over the last several years for residents who might not have considered the location previously. The development potential of the site is restricted by its zoning designation, which does not allow for mixed-use developments, its height restrictions, its parking requirements and its lack of scale - the site is quite small and rectangular. The zoning of this and the surrounding parcels aims to create an urban residential area that is walkable and pedestrian friendly, reducing traffic overall. Pedestrian permeability and the character of the Bishop Arts District should be considered in the design. Seen through the lens of a real estate developer evaluating a business opportunity, this document is formatted in sections focusing on the economic and real estate potential of the city of Dallas, the Bishop Arts area and the parcel itself, the parcel's zoning and parking issues, alternative design schematics for the parcel, and prevailing financial metrics of Dallas, Bishop Arts and the multifamily sector as they relate to each design's projected financial performance. This thesis concludes with a determination of the ultimate land value as dictated by the most financially successful site plan. / by Justin L Rice. / S.M. in Real Estate Development
| Identifer | oai:union.ndltd.org:MIT/oai:dspace.mit.edu:1721.1/113742 |
| Date | January 2017 |
| Creators | Rice, Justin L. (Justin Lynn) |
| Contributors | John Kennedy., Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development., Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development. |
| Publisher | Massachusetts Institute of Technology |
| Source Sets | M.I.T. Theses and Dissertation |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | 60 pages, application/pdf |
| Coverage | n-us-tx |
| Rights | MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission., http://dspace.mit.edu/handle/1721.1/7582 |
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