Assessing the Effect of Publicly Assisted Brownfield Redevelopment on Surrounding Property Values

Christopher A. De Sousa, Changshan Wu and Lynne M. Westphal
Additional contact information
Christopher A. De Sousa: University of Wisconsin-Milwaukee
Changshan Wu: University of Wisconsin-Milwaukee
Lynne M. Westphal: U.S. Department of Agriculture Forest Service, Northern Research Station

Economic Development Quarterly, 2009, vol. 23, issue 2, 95-110

Abstract: This study measures and compares the impact of publicly assisted brownfield redevelopment on nearby residential property values in Milwaukee and Minneapolis. It also examines the influence of land use, neighborhood characteristics, and other redevelopment factors on this impact. The research approach incorporates a hedonic method to quantify nearby property value effects at more than 100 brownfield projects, and stakeholder interviews are used to assess perceived impacts to real estate conditions. The results reveal that the spillover effect in terms of raising surrounding property values is significant in both quantity and geographic scope, as redevelopment led to a net increase of 11.4% in nearby housing prices in Milwaukee and 2.7% in Minneapolis. It also reveals that project size, value, and the amount of public funding have minor impacts on this effect; factors such as proximity to major roads, distance from rail, and higher incomes have greater positive impacts.

Keywords: brownfield; development; hedonic modeling; land use; policy (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/0891242408328379 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:ecdequ:v:23:y:2009:i:2:p:95-110

DOI: 10.1177/0891242408328379

Access Statistics for this article

More articles in Economic Development Quarterly
Bibliographic data for series maintained by SAGE Publications ().