Acknowledgments iv

How Big Upzonings Affect Housing Supply 1

Evaluating the Impacts of Upzoning 3

The Case Studies: Upzonings in New York City and Philadelphia 4

New York City’s Upzonings 4

Philadelphia’s Upzonings 8

Findings: New York City 10

Findings: Philadelphia 14

The Role of the Tax Abatement and Market Timing 18

Takeaways: What to Expect When Upzoning 21

Appendix A. Previous Scholarship on the Impacts of Upzoning 24

Appendix B. Methodological Approach 26

Evaluating Upzoning in New York City 26

Evaluating Upzoning in Philadelphia 31

Limitations 33

Notes 34

References 36

About the Authors 38

Statement of Independence 39