When a parcel of land in your community becomes available, do you know the best use for it? Do you know how your transportation plans could impact its value? Should it become office space? Is there a market for dining and entertainment there? Does that change if you add an exit ramp from the main thoroughfare?
Citilabs’ CUBE Land, an extension of CUBE Voyager, is an econometric land-use allocation model that brings realistic land-transport interactions into the modeling process. As the transport system changes, the levels of congestion and accessibility change, impacting the value and development of land.
Using mathematical models and accessibility data from CUBE Voyager, CUBE Land forecasts land use by simulating the real estate market under different economic conditions, as well as considering complex aspects like land use externalities. For a user-defined scenario, CUBE Land forecasts the supply, location and rents by zone for different types of properties. It also estimates the location of households and non-residential activities for different agent groups.
Having objective, comprehensive, market-based forecasts of land use is critical for many planning applications, including:
- Smart growth programs
- Toll road/infrastructure financing studies
- Sustainable community development
- Climate change/greenhouse gas effects
- Gentrification analysis
- Long-term impact of accessibility on growth
- Optimize growth with limited resources
- Environmental justice analysis
- Goods movement planning
- Assessment of real estate projects and land