Does Preservation Accelerate Neighborhood Change? Examining the Impact of Historic Preservation in the City
Friday, November 13, 2015 : 10:15 AM
Ibis (Hyatt Regency Miami)
*Names in bold indicate Presenter
Extensive research examines the property value impacts of historic preservation, but few studies have looked at the impact of preservation on neighborhood composition. In this study, we ask whether the designation of historic districts contributes to changes in the racial composition and socioeconomic status in New York City neighborhoods. Bringing together data on historic districts with a panel of census tracts, we estimate a difference-in-difference regression accounting for prior trends in neighborhoods. We find little evidence of changes in the racial composition of a neighborhood after the designation of a historic district, but find that designation leads to a significant change in the socioeconomic status in neighborhoods.