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What's the value of undeveloped land?

We can easily determine how much money we can make on new property developments, but if that land was left alone? What is the price of nature itself? As forests and wetlands continue to shrink, some local governments are turning to the market for a solution. This program was aired on America Public Media's "Marketplace" on January 2, 2008.

When someone builds an apartment complex or office building we, the public, can usually find out a lot about it -- How much it'll cost, how much the contractor will make, how many tax dollars the project will eat. There are drawings, models, price estimates.

But here's what we don't usually find out: how much the land would have been worth if it had been left alone. And that's what New Jersey wanted to know. For years, the state said yes to developers' plans. but now, it's running out of space. [from program's transcripts]

What's the value of undeveloped land?

Sub-Topics
Benefits (general/multiple), Environmental Services, Perceptions/Values/Attitudes, Urbanization
State(s)/Region(s)
National
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