Comparative Analysis of Housing in Conservation Developments: Colorado Case Studies

Christopher Hannum, Steven Laposa, Sarah Reed, Liba Pejchar and Lindsay Ex

Journal of Sustainable Real Estate, 2012, vol. 4, issue 1, 149-176

Abstract: Conservation development (CD) is an approach to the site design of a development property that combines residential development and land conservation. CD has been heralded as an environmentally-friendly development alternative and a means to finance land conservation. We employ a Box-Cox hedonic methodology using transaction data for all CD subdivisions in five Colorado counties, as well as a unique sample of homes in comparable nearby rural non-CD subdivisions to assess the value of the CD amenity to homeowners. Our research demonstrates significant sales price premiums for homes located in regulated and unregulated CDs relative to comparable non-CDs.

Date: 2012
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DOI: 10.1080/10835547.2012.12091835

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