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The Impact of Contamination on the Industrial Land Market

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  • Marie Howland
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    Abstract

    This study examines the impact of contamination on land prices and sales in an industrial district in Baltimore, Maryland. We tracked the sales and selling price of land, known to be contaminated, known to be clean, and suspected of contamination because of its historical uses in one industrial area of about 5,580 acres in southwest Baltimore. The results indicate that after the mid-1990s, contaminated parcels have been selling, and the market has adjusted to contamination by lowering prices. Using an OLS model of land prices, we find parcels adjacent to a contaminated parcel - either known or suspected - sold at a 35% discount, and parcels known to be contaminated or had an historical reason-to-suspect of contamination sold at a 55% discount.

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    Bibliographic Info

    Article provided by FrancoAngeli Editore in its journal SCIENZE REGIONALI.

    Volume (Year): 2011/3 (2011)
    Issue (Month): 3 ()
    Pages: 29-47

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    Handle: RePEc:fan:scresc:v:html10.3280/scre2011-003003

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    Related research

    Keywords: Politica territoriale; aree dismesse; utilizzo di terreni industriali;

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