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All Journal Jurnal Pengembangan Kota Jurnal Litbang Kota Pekalongan
Safrul, Muhammad
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Agriculture, Biological Sciences & Forestry Civil Engineering, Building, Construction & Architecture Computer Science & IT Public Health

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THE POTENTIAL OF LAND VALUE CAPTURE FOR A TRANSIT-ORIENTED DEVELOPMENT INITIATIVE IN PEKALONGAN CITY CENTER Pradoto, Wisnu; Rahdriawan, Mardwi; Safrul, Muhammad; Ramli, Nurul Anam
Jurnal Pengembangan Kota Vol 12, No 1: Juli 2024
Publisher : Diponegoro University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/jpk.12.1.23-34

Abstract

Investment is a trigger for increasing the economic potential of a region. Land value is an indicator that not only reflects it, but also shows its development prospects. Government applies variety instruments of land use to improve the attractiveness of an area, especially for commercial activities. This study aims to formulate the Land Value Capture model as an innovation for financing the infrastructure development as well as for generating public revenues. Pekalongan City Center, which is located around the railway station, is an economic magnet that contains several advantages for Transit Oriented Development application. This research examines the determinant variables through Multiple Linear Regression. The model shows the significance of each influencing factor to raise land value. The study finds LVC tools that possibly applied. Discussion regarding the lack of financial capacity on government side while developable land is predominated owned by public institution vis-à-vis the needs for involving private investors to optimize the economic potential for new development is interested to understand about the differences between theoretical and practical point of view.
Land Value Capture sebagai Inovasi Pembiayan Non Pemerintah di Kota Pekalongan Pradoto, Wisnu; Safrul, Muhammad; Anam Ramli, Nurul
JURNAL LITBANG KOTA PEKALONGAN Vol. 22 No. 1 (2024)
Publisher : Badan Perencana Pembangunan, Riset dan Inovasi Kota Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54911/litbang.v22i1.303

Abstract

The land use pattern and infrastructure investment serve as tools that can be utilized to create opportunities for increasing land economic value. This research aims to formulate the Land Value Capture (LVC) model as a non-governmental financing source that can be used to finance the development of the Pekalongan City Station area with the concept of Transit-Oriented Development (TOD). The analytical tools used include descriptive and literature studies, as well as SWOT analysis. The research area is focused on 3 (three) areas that may be ready for LVC implementation, namely 1) the Hoegeng Stadium area, 2) the former Sri Ratu area, shops on the east side, and 3) shops on the east side of the station. LVC instruments that can be applied in this area include land value taxes, joint development, land readjustment using diversification strategies. Keywords: Land Value Capture (LVC), Pekalongan City Station, Transit Oriented Development (TOD)
Co-Authors Anam Ramli, Nurul Mardwi Rahdriawan Ramli, Nurul Anam Wisnu Pradoto