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Urban Stream Restoration Projects: Do Project Phase, Distance, and Type Affect Nearby Property Sale Prices?

Author

Listed:
  • Maya Jarrad
  • Noelwah R. Netusil
  • Klaus Moeltner
  • Anita T. Morzillo
  • J. Alan Yeakley

Abstract

Between 1990 and 2014, more than 200 restoration projects were implemented in the Johnson Creek Watershed, Oregon, to mitigate storm water runoff, restore floodplains, remove invasive plants, restore wetlands, and improve fish and wildlife habitat. We use a repeat-sales model to investigate if restoration projects have an effect on the sale price of nearby single-family residential properties, and if estimated effects vary by project phase, distance, and type. Properties in closest proximity to storm water, floodplain, and revegetation projects experience a positive effect during different project phases. Estimated effects for wetland projects are negative for 9 of the 12 distance/project phase variables.

Suggested Citation

  • Maya Jarrad & Noelwah R. Netusil & Klaus Moeltner & Anita T. Morzillo & J. Alan Yeakley, 2018. "Urban Stream Restoration Projects: Do Project Phase, Distance, and Type Affect Nearby Property Sale Prices?," Land Economics, University of Wisconsin Press, vol. 94(3), pages 368-385.
    • Handle: RePEc:uwp:landec:v:94:y:2018:i:3:p:368-385
    Note: DOI: 10.3368/le.94.3.368
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    Citations

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    Cited by:

    1. Guilfoos, Todd & Walsh, Jason, 2023. "A hedonic study of New England dam removals," Ecological Economics, Elsevier, vol. 203(C).
    2. Polyakov, Maksym & Iftekhar, Md Sayed & Fogarty, James & Buurman, Joost, 2022. "Renewal of waterways in a dense city creates value for residents," Ecological Economics, Elsevier, vol. 199(C).
    3. Charles Towe & H. Allen Klaiber & Joe Maher & Will Georgic, 2021. "A Valuation of Restored Streams Using Repeat Sales and Instrumental Variables," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 80(2), pages 199-219, October.
    4. Netusil, Noelwah R. & Moeltner, Klaus & Jarrad, Maya, 2019. "Floodplain designation and property sale prices in an urban watershed," Land Use Policy, Elsevier, vol. 88(C).

    More about this item

    JEL classification:

    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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