Abstract
Real estate development and the construction of commercial and residen- tial buildings largely determine the future spatial distribution of job and residential locations, thereby giving public planners an instrument with which they can steer urbanization. This paper measures whether the real estate development and urban management planning process, in terms of construction permits, enables a relation- ship between commercial and residential real estate developments and thus between futurejobandresidentiallocations.WeusedataonconstructionpermitsfortheNether- lands over 1990-2012. Our conclusion is that the real estate development and urban planning process, in terms of construction permits, allows a complementary effect between commercial and residential real estate developments. A one per cent increase in commercial real estate development permits leads to a 0.35 per cent increase in residential real estate development permits. Finally, the data reveal differences across regions suggesting that different local factors are at work.
Highlights
Real estate development, or the process of land development to construct commercial and residential buildings, shapes tomorrow’s urban scene
The process of land development to construct commercial and residential buildings, shapes tomorrow’s urban scene. This is because real estate development governs future land-use and the associated spatial distribution of jobs and houses
Our results indicate that residential real estate development reacts to commercial real estate development and, as such, this outcome refines the findings of Vermeulen and Ommeren (2009)
Summary
The process of land development to construct commercial and residential buildings, shapes tomorrow’s urban scene This is because real estate development governs future land-use and the associated spatial distribution of jobs and houses. The focus of this paper is on the relationship between commercial and residential regional real estate developments To address this issue, we build upon the literature regarding the spatial distribution of jobs and people. We draw on the planning literature that addresses how urban planning and development management affects the job-housing balance (where people live and where they work) and associated implications for future commuting patterns (see Cervero 1995; Zhao et al 2011) This so-called job-housing balance, which measures the distribution of employment (jobs) relative to the distribution of workers (households) in terms of spatial proximity, depends on the relationship between commercial and residential real estate development.
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