Abstract

The effects of property development on urban vitality and on the land prices from the transformation of the profile of Pocuro Ave. (eastern Santiago), where a linear park of almost 1.5 kilometers was built in 1997, with a cycle path and promenade, are evaluated. A list of the constructions built on the street from 1960 to the present date was made, along with a count of the people who used the street and interviews with the store keepers there. The results show a 223% increase in the m2 built in the last 20 years compared to the previous period, as well as an intensive and diverse use of the street. Both the real-estate activity and the intensive use of the street were positively valued by the store keepers. Finally, it is detected that the payment of building permits has managed to cover 98.5% of what was originally invested by the council, revealing that this type of investment can be highly profitable for councils.