Rapid development, build-out ratio and subsequent neighborhood turnover

Abstract

Neighborhood development is primarily comprised of structural elements that include design elements, nearby amenities and ecological attributes. This paper assumes that the process of development itself also influences the character of the neighborhood-specifically, that the rate of development and build-out ratio influences neighborhood turnover. While the structural components clearly set a framework for development, the process of development expresses the character of the neighborhood in subtle messages conveyed through the market. Neighborhoods in the rapidly growing university town of College Station, Texas are analyzed in terms of neighborhood design, nearby amenities and landscape ecology components. Residential property records are used to characterize each neighborhood in terms of the rate of development and current build-out ratio. The multivariate analysis indicates that the development rate increases subsequent neighborhood turnover rates while the build-out ratio decreases it.