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Vacancy and property values in shrinking downtowns: A comparative study of three New England cities

Hollander, Justin B. and Hartt, Maxwell 2019. Vacancy and property values in shrinking downtowns: A comparative study of three New England cities. Town Planning Review 90 (3) , pp. 247-273. 10.3828/tpr.2019.18
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Abstract

When a city loses people and jobs, downtowns tend to face high vacancy rates and diminished tax collections due to property abandonment. With fewer resources and structures in poorer condition, these shrinking downtowns become less and less attractive for investors. This paper tackles this paradox by examining overall patterns of decline and downtown change in three New England (USA) cities. Specifically we ask, how does the process of urban decline impact occupancy, building conditions and property values in downtown districts? We found that statistically significant relationships emerge between property valuations and occupancy patterns, though these relationships vary among the three cities.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Geography and Planning (GEOPL)
Publisher: Liverpool University Press
ISSN: 0041-0020
Date of First Compliant Deposit: 9 January 2019
Date of Acceptance: 2 January 2019
Last Modified: 07 Nov 2019 09:01
URI: http://orca.cf.ac.uk/id/eprint/118244

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