Area, Time, Centrality and the Value of Urban Land

Abstract

Plottage is a well-known term for the additional value which is obtained by assembling two or more contiguous lots. If plottage exists, the value of the whole is greater than the sum of the values of the parts. Suppose that two lots of size L1, as shown in Figure 1, are assembled. Suppose further that the true value-area relationship is V in Figure 1. The ratio of value to lot area of each is the slope of the