Urban Sustainability Predictive Model Using GIS: Appraised Land Value versus LEED Sustainable Site Credits

Abstract

Although many researchers have attempted to examine the value-added advantages of adopting Leadership in Energy and Environmental Design (LEED) standards for sustainable design projects, quantitative research into its impact on the appraised unit value of land has been fairly limited. The objective of this study is to develop a quantifying model that predicts the unit value of unimproved lands by analyzing the interdependency between the adoption of three LEED sustainable site credits (LEED SSCs) and the appraised unit value of unimproved lands. By using a geographic information system mapping technique, a set of LEED SSC data was created and transformed for normality. A multiple linear regression analysis was then performed to develop the predictive model with a time and location adjustment factor to analyze how the appraised value of land was affected by the presence of three LEED SSCs. The analysis indicates that adapting projects to meet acceptance standards for LEED SSCs has a significant positive impact on the appraised unit value of improved lands. The findings of this study will help decision makers frame sustainable real estate development projects that consider LEED SSCs.