Development Project Transition Model (DPTM)

Objective

The Development Project Transition Model (DPTM) predicts new development projects that need to be built to satisfy market demand.

Algorithm

It compares the current (simulated) vacancy rate for each building type to the target vacancy rate, and generates new buildings when the current vacancy rate falls below the long-term structural vacancy rate. Think of the structural vacancy rate as the threshold or trigger that provides a market signal to developers that conditions are profitable to begin new projects. This model does not actually locate or build the projects, but creates them by sampling previously built buildings, and placing them in the queue to be located in the Residential and Non-Residential Development Location Choice Models.

Configuration

OPUS path to model code

urbansim.models.real_estate_transition_model

Model Parameters

The configuration of the DPTM in the zone model system is summarized in the following table:

Element	Setting
Agent	Development project (assumes there is an unobserved developer for each project to be located)
Dataset	Buildings
Model Structure	Rule Based

Data

These tables are used by the Development Project Transition Model in the zone-based version of UrbanSim.

Table Name	Brief Description
buildings	Aggregated buildings, by building_type and zone
development_event_history	Development projects that have been built over a historical period of (for example) 10 years
target_vacancies	Target vacancy rates for each building_type

-- PaulWaddell - 07 Dec 2009