Road pricing has gained more research attention due to its effectiveness in managing traffic congestion and financing transportation infrastructure during recent years. Most research efforts focus on the functionality of road pricing in managing traffic congestion and raising revenue. In contrast, little is known about the impact of such pricing policies on urban development over time. In this context, there is an urgent need to develop a modeling tool that investigates not only how road pricing affects the shortterm mobility and reliability of transportation systems, but also how it would influence the sustainability and equity of urban development.