Statistical Models to Predict Commercial‐ and Parking‐Space Occupancy
Publication: Journal of Urban Planning and Development
Volume 117, Issue 4
Abstract
This paper examines the use of simple analytical models to estimate quantitatively the demand for site‐specific commercial and parking space. The influence of locational and other site characteristics on demand is captured and quantified through regression equations for occupancy, based on data from the Pittsburgh, Pennsylvania, central business district. In addition to site and locational considerations, the use and condition of the building and type of tenant are included in the models. The predicted occupancy is then used to analyze demand. The models are discussed in terms of price impacts, economic influences, and the effects of competing markets. These models are applied to the development of the site of the existing Greyhound bus terminal in Pittsburgh. Development options are identified and costs estimated, which are then compared with revenues based on market rates and predicted occupancy. A net present value analysis is used. Limitations and other applications of the models are also discussed.
Get full access to this article
View all available purchase options and get full access to this article.
References
1.
Barrett, V. G., and Blair, B. J. (1988). How to conduct and analyze real estate market and feasibility studies. Van Nostrand Reinhold Company, New York, N.Y.
2.
Lemer, A., Smeallie, P., Wholey, P., and Curry, J. (1990). Committing to the cost of ownership: Maintenance and repair of public buildings. National Academy Press, Washington, D.C.
3.
McGuiness, E. R. (1990). “Development of the Greyhound bus terminal site, Pittsburgh, PA: Concepts and evaluation of alternatives,” master's thesis presented to Carnegie Mellon University, at Pittsburgh, Pennsylvania, in partial fulfillment of the requirements for the degree of Master of Science.
4.
Means. Building construction cost data, 1990. (1990). R. S. Means Co., Construction Consultants, Kingston, Mass.
5.
Stouffer, R. (1987). “Will the Pennsylvanian be successful?” Pittsburgh Business Journal, Nov.
Information & Authors
Information
Published In
Copyright
Copyright © 1991 ASCE.
History
Published online: Dec 1, 1991
Published in print: Dec 1991
Authors
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.