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Do Housing Rehabs Pay Their Way? A National Case Study

Listed author(s):
  • Robert A. Simons


    (Cleveland State University, Cleveland, OH 44115)

  • A. J. Magner


    (ICI-Delux Paints Real Estate, Cleveland, OH 44115)

  • Esmail Baku


    (Neighborhood Reinvestment Corporation, Washington, DC)

Registered author(s):

    This research focuses on if housing rehabilitation by community development corporations pays its own way. The recent experience of ten local housing organizations in the Neighborhood Reinvestment Corporation network is examined. These organizations assist homeowners in rehabbing existing units and acquire, rehab and transfer units to new occupants. The findings indicate that rehabbed housing units provide substantial benefits to the local economy. The rehabbed units return $0.55, on average, for every local government dollar invested. In addition, economic benefits such as increased property values and tax base, and construction jobs and permanent jobs were created and sustained.

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    Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

    Volume (Year): 25 (2003)
    Issue (Month): 4 ()
    Pages: 431-462

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    Handle: RePEc:jre:issued:v:25:n:4:2003:p:431-462
    Contact details of provider: Postal:
    American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323

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    Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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