Bowman’s explanation for why street votes would succeed at bringing about new housing development is that existing landowners in a particular block would see the value of their land rise when the block upgrades its construction rules. A block is a negligible part of a city so the increased supply when one block is densified has a negligible effect on the housing price. Upgrading the block is cleary in the interest of its owners.
However, it’s less clear that introducing the possibility of conducting street votes in a particular city is in the interest of landowners because the effect on house prices is no longer negligible if many blocks decide to upgrade.
Bowman’s explanation for why street votes would succeed at bringing about new housing development is that existing landowners in a particular block would see the value of their land rise when the block upgrades its construction rules. A block is a negligible part of a city so the increased supply when one block is densified has a negligible effect on the housing price. Upgrading the block is cleary in the interest of its owners.
However, it’s less clear that introducing the possibility of conducting street votes in a particular city is in the interest of landowners because the effect on house prices is no longer negligible if many blocks decide to upgrade.