Urban planning projects range from high-level initiatives such as corridor plans or spatial development frameworks (SDFs) to local-level initiatives such as precinct or functional area plans (FAPs).
Regardless of the nature, urban planning projects generally require inputs from various specialists including town planners, engineers, architects, environmentalist and economists.
Economic input into urban planning processes assists planners to formulate an understanding of the socio-economic and economic characteristics that are either unique to the area or have an impact on the area, to guide planning interventions. For example, a local municipality might appoint a multi-faceted project team to develop a precinct plan for a key node or corridor in which ad hoc development is occurring in order to guide future development in this precinct; economic analysis into the business activities in the node and broader municipal economic growth trends might suggest that the precinct be favoured as a future tourism development priority area and as such, this would be reflected in the detailed precinct plans.
Techniques utilised include demographic profiling, economic analysis, property market analysis, surveys and stakeholder engagement.