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Estimating the local economic impacts of HOPE VI

Author

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  • Sean Zielenbach
  • Richard Voith
  • Michael Mariano

Abstract

This study identifies and measures the demonstrable changes to local political economies that can be reasonably attributed to HOPE VI redevelopments. It examines the extent to which the developments have contributed to increases in surrounding property values, decreases in serious crimes, additional regional economic activity, and changes in local tax revenues. It weighs these benefits against the public costs associated with the program. Despite the expenses associated with HOPE VI, the redevelopments generate significant net social welfare benefits. In most cases, the collective tenant and neighborhood benefits exceed the net public costs of redevelopment. In addition, the redevelopments spark additional regional economic activity and contribute to an increase in the local tax base. HOPE VI's effects are far from uniform, however, and depend on the location of the redeveloped property, the characteristics of project funding, the strength of the local real estate market, and the presence of other development pressures.

Suggested Citation

  • Sean Zielenbach & Richard Voith & Michael Mariano, 2010. "Estimating the local economic impacts of HOPE VI," Housing Policy Debate, Taylor & Francis Journals, vol. 20(3), pages 485-522, June.
  • Handle: RePEc:taf:houspd:v:20:y:2010:i:3:p:485-522
    DOI: 10.1080/10511481003788794
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    Cited by:

    1. Stephen Boyle & Kevin Connolly & Peter G McGregor & Mairi Spowage, 2022. "The regional macroeconomic impact of projected affordable housing developments: Facilitating the ‘levelling up’ Agenda?," Local Economy, London South Bank University, vol. 37(5), pages 384-402, August.

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