The concept basically shows that downtown Per Acre Value vastly outstrips the public wealth contributed by low-density subdivisions or malls. Additionally, downtown acreage costs significantly less to maintain in terms of public services and infrastructure.
In short, underutilized downtown buildings need to be developed. Here’s why. In Asheville, a downtown six-story building sitting on 1/5 of an acre yields $634,000 in tax revenue per acre once it was redeveloped. The Super Walmart on 34 acres of land yields $6,500 per acre in property taxes. Almost a 100x difference. Ultimately, the Per Acre model can lead to new revenue without property tax increases.
Here's the article: http://www.theatlanticcities.com/jobs-and-economy/2012/03/simple-math-can-save-cities-bankruptcy/1629/
Check it out!
