Question: A lower density zoning code in a high rent apartment neighborhood has changed the usual comparison units and rules of thumb for land value. If

A lower density zoning code in a high rent apartment neighborhood has changed the usual comparison units and rules of thumb for land value. If vacant apartment-zoned lots could formerly be developed to 12 units each, but now can be developed to only 6 units, what value change is likely?

a. A decrease in the value per square foot

b. An increase in the value per buildable unit

c. Both a and b are likely

d. Neither a or b is likely

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