ABSTRACT: Historic preservation is one way cities can stimulate the economies of lagging or distressed areas. Owners of commercial properties in historic districts enjoy federal and local tax incentives, grants, and loans, as well as protection of external facades in the district. If historic district designation is associated with price effects, there should be a significant price differential between commercial properties in designated and nondesignated areas. This paper reviews the extent to which designation makes a difference in revitalizing commercial investment in a minority commercial district in Atlanta, Georgia. Compared to a nondesignated commercial area, historic district designation appears to be effective in revitalizing commercial properties in terms of improving property values and, by inference, commercial activity.
|Original language||English (US)|
|Number of pages||12|
|Journal||Journal of Urban Affairs|
|State||Published - 1991|
ASJC Scopus subject areas
- Sociology and Political Science
- Urban Studies