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Mixed Use Outperforms Big Box Development

Posted by: Nate Berg

13 July 2010 - 6:00am

Tax revenue-per-acre figures for big box developments are only slightly higher than residential developments, and not as high as mixed use project, according to this column from Mary Newsom.

"Sarasota County Director of Smart Growth Peter Katz, speaking to a meeting of Citistates Associates here late last month, described a recent analysis of the county’s property tax revenue per acre. He pointed first to residential areas. Not surprisingly, when you work the numbers on a per-acre basis, residential property inside the county’s municipalities offered the biggest revenue per acre — a little more than $8,200 per acre for single family houses within the city of Sarasota. This makes sense, as in-town land values tend to be higher.

Next, Katz showed the results from retail properties. Here comes surprise No. 1.: Big box stores such as WalMart and Sam’s Club, when analyzed for county property tax revenue per acre, produce barely more than a single family house; maybe $150 to $200 more a year, Katz said."

These findings challenge conventional wisdom, according to Newsom. More surprising is that mixed use developments produce even higher tax revenue-per-acre.

Full Story: Multi-Use Downtown Development Puts Standard Malls’ Tax Yield to Shame
Source: Citiwire, July 11, 2010
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One great asset of this part of town, and other older neighborhoods across America, is something as simple as sidewalks, which make it easier to break out of your private sphere by taking a walk and talking to neighbors. That's an impossible dream in many new subdivisions.
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