The smart money in real estate is on smart growth Chosen officials and bureaucrats similar to Gochnour and Rockville's Sternbach are also being watchful of the public purse, said Joseph Minicozzi, a real estate developer and city planner in Asheville, North Carolina who has done investigate there and in Sarasota County, Florida.His work shows that local governments reap a great deal more in taxes from urban centers than from malls or "big box" retail like a Wal-Mart, except pay more to build suburban communications such as sewers and streets.
Inside the city and county of Sarasota, for example, 3.4 acres of urban housing development consumes one-tenth the land of a multi-family growth in the suburbs. But it requires little more than half of the infrastructure asset and generates 830 percent more for the county yearly in total taxes: that's $2 million from the city structure and $238,529 from the suburban one.
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