How valuable are my community’s publicly owned properties?

As the local governments consider how to fund much-needed infrastructure investments, they often overlook a readily available resource: their own land and buildings.

The public wealth of cities is a new idea championed by economist Dag Detter. Urban3 worked with Detter to create Public Asset Valuations for several cities and counties. These analyses create innovative ways of funding infrastructure and boosting local economic growth. By leveraging their existing holdings, public entities can utilize their development to balance community health and advance public policy goals.

Our work helps visually create the platform public entities can use to determine how to manage municipal assets for the public good. 

  • Gain a holistic understanding of all publicly owned land

  • Receive a model of projections on the potential value of all land, viewed as a real estate portfolio

  • Visualize development scenarios for priority sites, based on existing development in the marketplace

  • Identify the net municipal revenue impact of potential private development

  • Take steps to create a Public Wealth Fund to manage community real estate assets

Public Asset Valuation, City of Pittsburgh

Public Asset Valuation, City of Pittsburgh