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Axial theory

Definitions of Axial theory
  • Axial theory is a principle that states land use, land values, and real estate development radiate outward along axes that are driven by transportation routes and emanate from a city's center.


Axial Theory of Urban Development

The axial theory of development recognizes the importance of transportation routes as drivers of urban economic development. Radiating outward from a city center, the theory of axial development states that urban growth will occur around transportation routes such as roads and rivers that emanate from the central business district.

Axial Theory vs. Sector Theory

Where sector theory states that development occurs as areas of common land use shaped as pie wedges that radiate outward from the city center, axial theory states the development will cluster around transportation routes that radiate out from the core. It is the transportation route that serves as the axis around which real estate and economic development will occur. Although transportation routes also drive development in sector theory, each sector in sector theory has a distinct land use.

Axial Theory vs. Star Theory

Instead of radiating outward, transportation routes may crisscross a city in some areas. As urban development occurs along these transportation routes, real estate development starts to form a star shaped pattern. This pattern was the basis for forming the star theory of urban development.


        

Real Estate Terms

1. How much cash will be required to make your mortgage payments? Debt Service >>


2. Who can you go to to finance your construction or development project? Construction Lender >>


3. What professional can assist you in maximizing the value of your investment property? Asset Manager >>


4. How can we assess future commitment to infrastructure to support our communities and future development? Capital Improvements Projects >>


5. What measurement indicates if a property's financial performance can cover its debt? DSCR >>


6. What part of a city is the center of urban economic development? CBD >>


7. What allows property owners and professionals to estimate the market value of a commercial property? Comparable Property >>


8. What can landords do to entice prospective tenants? Concession >>


9. What critical factor do stores depend on to drive traffic? Anchor Tenant >>


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