Redeveloping derelict and underused historic city areas: evidence from a survey of real estate developers
Are economic incentives and regulatory relief useful tools for encouraging reuse of abandoned or under-utilised urban sites with historic buildings? Answering this question is of key importance for many European cities and for older US cities, and has important implications in terms of urban sustainability and “smart growth” initiatives. This study uses conjoint choice experiments to explore the relative importance of economic incentives, regulatory relief, land use and property regime offerings at under-utilised historic sites in Venice, Italy. Real estate developers and investors were surveyed, and asked to choose between pairs of hypothetical projects in three Venice locations, as well as between one of these projects and the alternative to do a development project elsewhere. Statistical models of the responses to these choice questions indicate that respondents were sensitive to the price of acquiring the land (and hence to any policies that influence prices), and particularly sensitive to the property regime that would be granted to developers and investors and to the allowable land use. It is concluded that the city should focus on offering land uses and property regimes that are more in tune with developer demand.
Volume (Year): 53 (2010)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CJEP20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CJEP20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Marie Howland, 2004. "The Role of Contamination in Central City Industrial Decline," Economic Development Quarterly, , vol. 18(3), pages 207-219, August.
- Douglas S. Noonan, 2007. "Finding an Impact of Preservation Policies: Price Effects of Historic Landmarks on Attached Homes in Chicago, 1990-1999," Economic Development Quarterly, , vol. 21(1), pages 17-33, February.
- Anna Alberini & Alberto Longo & Patrizia Riganti, 2006. "Using Surveys to Compare the Public’s and Decisionmakers’ Preferences for Urban Regeneration: The Venice Arsenale," Working Papers 2006.137, Fondazione Eni Enrico Mattei.
- Cameron Trudy Ann & Quiggin John, 1994.
"Estimation Using Contingent Valuation Data from a Dichotomous Choice with Follow-Up Questionnaire,"
Journal of Environmental Economics and Management,
Elsevier, vol. 27(3), pages 218-234, November.
- Trudy Ann Cameron & John Quiggin, 1992. "Estimation Using Contingent Valuation Data From a "Dichotomous Choice with Follow-Up" Questionnaire," UCLA Economics Working Papers 653, UCLA Department of Economics.
- Michael Wasylenko, 1997. "Taxation and economic development: the state of the economic literature," New England Economic Review, Federal Reserve Bank of Boston, issue Mar, pages 37-52.
- Paul K. Asabere & Forrest E. Huffman, 1991. "Historic Districts and Land Values," Journal of Real Estate Research, American Real Estate Society, vol. 6(1), pages 1-8.
- Christopher De Sousa, 2000. "Brownfield Redevelopment versus Greenfield Development: A Private Sector Perspective on the Costs and Risks Associated with Brownfield Redevelopment in the Greater Toronto Area," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 43(6), pages 831-853.
- William F. Fox & Matthew N. Murray, 2004. "Do Economic Effects Justify the Use of Fiscal Incentives?," Southern Economic Journal, Southern Economic Association, vol. 71(1), pages 78-92, July.
- Moretti, Enrico, 2004.
"Bidding for Industrial Plants: Does Winning a 'Million Dollar Plant' Increase Welfare?,"
Santa Cruz Department of Economics, Working Paper Series
qt5cz0h23t, Department of Economics, UC Santa Cruz.
- Michael Greenstone & Enrico Moretti, 2003. "Bidding for Industrial Plants: Does Winning a 'Million Dollar Plant' Increase Welfare?," NBER Working Papers 9844, National Bureau of Economic Research, Inc.
- Alberini, Anna & Longo, Alberto & Tonin, Stefania & Trombetta, Francesco & Turvani, Margherita, 2002.
"The Role Of Liability, Regulation And Economic Incentives In Brownfield Remediation And Redevelopment: Evidence From Surveys Of Developers,"
28582, University of Maryland, Department of Agricultural and Resource Economics.
- Alberini, Anna & Longo, Alberto & Tonin, Stefania & Trombetta, Francesco & Turvani, Margherita, 2005. "The role of liability, regulation and economic incentives in brownfield remediation and redevelopment: evidence from surveys of developers," Regional Science and Urban Economics, Elsevier, vol. 35(4), pages 327-351, July.
- Anna Alberini & Alberto Longo & Stefania Tonin & Francesco Trombetta & Margherita Turvani, 2003. "The Role of Liability, Regulation and Economic Incentives in Brownfield Remediation and Redevelopment: Evidence from Surveys of Developers," Working Papers 2003.7, Fondazione Eni Enrico Mattei.
- Newman, Robert J. & Sullivan, Dennis H., 1988. "Econometric analysis of business tax impacts on industrial location: What do we know, and how do we know it?," Journal of Urban Economics, Elsevier, vol. 23(2), pages 215-234, March.
- Kris Wernstedt & Peter B. Meyer & Anna Alberini, 2006. "Attracting private investment to contaminated properties: The value of public interventions," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 25(2), pages 247-369.
- Hanley, Nick & Mourato, Susana & Wright, Robert E, 2001. " Choice Modelling Approaches: A Superior Alternative for Environmental Valuation?," Journal of Economic Surveys, Wiley Blackwell, vol. 15(3), pages 435-62, July.
- Anna Alberini, 2006.
"Determinants and Effects on Property Values of Participation in Voluntary Cleanup Programs: The Case of Colorado,"
2006.1, Fondazione Eni Enrico Mattei.
- Anna Alberini, 2007. "Determinants And Effects On Property Values Of Participation In Voluntary Cleanup Programs: The Case Of Colorado," Contemporary Economic Policy, Western Economic Association International, vol. 25(3), pages 415-432, 07.
- Anna Alberini, 2006. "Determinants and Effects on Property Values of Participation in Voluntary Cleanup Programs: the Case of Colorado," ERSA conference papers ersa06p126, European Regional Science Association.
- Philippe Cyrenne & Robert Fenton & Joseph Warbanski, 2006. "Historic Buildings and Rehabilitation Expenditures: A Panel Data Approach," Journal of Real Estate Research, American Real Estate Society, vol. 28(4), pages 349-380.
- Timothy J. Bartik, 1991. "Who Benefits from State and Local Economic Development Policies?," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number wbsle.
- Christopher De Sousa, 2004. "The greening of brownfields in American cities," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 47(4), pages 579-600.
- Arthur Sementelli & Robert A. Simons, 1997. "Regulation of Leaking Underground Storage Tanks: Policy Enforcement and Unintended Consequences," Economic Development Quarterly, , vol. 11(3), pages 236-248, August.
- McGrath, Daniel T., 2000. "Urban Industrial Land Redevelopment and Contamination Risk," Journal of Urban Economics, Elsevier, vol. 47(3), pages 414-442, May.
When requesting a correction, please mention this item's handle: RePEc:taf:jenpmg:v:53:y:2010:i:2:p:257-281. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If references are entirely missing, you can add them using this form.