In the bonusing system for the Beltline community, as outlined in the Beltline Area Redevelopment Plan, there is a calculation that determines the additional bonus floor area that can be achieved by an applicant, in exchange for providing provisions (certain public amenities)as part of their development application.
A key component of the bonus floor area calculation is the Beltline Average Land Value.
The methodology in which the Beltline Average Land Value is determined is currently under review. The current methodology for determining the average land value is based on a three year rolling average of land sales, based on the most recent three year period. In periods when there are strong land sales, this method provides a relatively accurate land value. When the economy slows and there are limited land sales, this approach is less effective in determining actual land value.
The Centre City Planning Policy group is working to develop an alternative methodology that is less integrally linked to the number of land sales and will provide an average land value that is more reflective of the current market.
For more information on Centre City projects, please contact 3-1-1