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"Remote Realtor": Using Images in Publicly-Available Cameras for Commercial Real-Estate Value Assessment
Peter Friedman
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Abstract
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Choosing the location of a
restaurant, bar, retail store, or other commercial outlet is often
a time consuming task that relies on constant observation, and
information gathered by querying neighborhood residents. This
process requires a individual to be present at the target
neighborhood which can be costly if the investor is not local.
This work demonstrates a method for determining optimal locations
for commercial establishments and assessing value to areas of
real-estate using information gathered from publicly available
webcams.
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Introduction
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Publicly available webcams, can be
used either in a manual (human viewer) or automated (computerized
analysis of images received) system to determine optimal locations
for commercial real-estate given parameters of type and number of
potential customers. The work outlines a method, which can be
automated, for determining optimal locations for businesses given
such parameters.
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Methods
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Taking images captured from a camera
atop the University of Pittsburgh Cathedral of Learning
(https://www.discover.pitt.edu/tour/cl_cam.html), traffic patterns
throughout the course of two weeks is analyzed. The analysis
concentrated on three locations on the Pitt campus: Forbes and
Thackeray Ave, Forbes Avenue directly below the Cathedral, and the
corner of Forbes and Oakland ave.
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Results
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Location 1: Fifth and Thackeray intersection at night (above) and at afternoon (below) on weekdays.
This particular intersection
exhibits the behavior or being busy with cars in both day and
evening hours, however is only populated heavily with pedestrians
during day hours – If a commercial developer were looking to
place a walk in store (boutique) or other similar establishment
this type of demographic may be preferred based on the presence of
people averaged over business hours.
Location 2: Hillman Library
The Hillman Library location
exhibited substantial pedestrian traffic in both day and evening
hours – because of the presence of a well-visited (as evidenced
by the camera video) academic building, developers looking to
establish school/office supply, or convenience store may consider
this location.
Location 3: Forbes and Oakland Ave
Location 3 was populated by heavy
automotive traffic during daylight hours but relatively low
pedestrian traffic. However, nighttime pedestrian traffic was much
higher. As evidenced by the pre-existing assortment of restaurants
and bars in this area, commercial developers seeking to establish
"night-life" may consider locations such as these more
valuable.
While the work herein provides a
commercial application to research previously done by Dr Sweeney
in a limited applicable environment (University cameras), there
are many more possibilities to investigate. Similar applications
to commercial real-estate seem possible using data from highway
traffic cameras (e.g. best location for a fast-food turn-off),
much more data needs to be collected and verified before other
applications are deemed feasible and/or practical.
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Privacy
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As with nearly all public webcams
there are privacy concerns to address, notedly the ability of
users with access to sufficiently high-resolution cameras to
obtain information about the vehicles (e.g. license plates ) or
the people walking on the streets., Dr Sweeney cited similar
concerns in her previous works. A unique problem to webcams
mounted on tall buildings with pan, zoom, and tilt, in urban
areas, is the ability to look into residential apartment windows.
While the Pitt camera did not have zoom or resolution subtable to
accomplish such a task, higher-quality cameras could easily be
misused to look into peoples' private living-spaces.
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References
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Camera: https://www.discover.pitt.edu/tour/cl_cam.html
Project Paper (PDF)
Gross, R and Sweeney, L. Mining Images in Publicly-Available Cameras for Homeland Security. AAAI Spring Symposium, 2005.
Sweeney, L. CameraWatch. Data Privacy Lab, 2003 dataprivacylab.org/dataprivacy/projects/camwatch/
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