Historic Designation and The Rebuilding of Inner City Neighborhoods

In developing effective urban revitalization strategies some still question the value of historic preservation districts and effort. Too few academic researchers have tried to identify and present practical evidence that historic preservation produces important changes in property values. This study using hedonic models in both fast and slow-growth regions demonstrates that historic preservation can indeed make an important contribution to urban revitalization efforts. In addition, historic preservation also produces other returns including enhancements related to aesthetic values and preserving an area’s cultural heritage. This study demonstrates that there are both economic and planning benefits from historic preservation and that cities would be well advised to create a select number of districts within aging communities that suffer from the onset of deterioration