Russ Peterson quotes Ed Goetz's book:
"We find that proximity to nonprofit-developed subsidized
housing actually enhances property values at a rate of $.86
per foot...Crime data on fourteen nonprofit projects show
that there were significantly fewer crime calls at these
properties after their rehabilitation and conversion to
subsidized housing...The tenants of subsidized nonprofit
projects are less transient than other renters in the
project neighborhoods."
David Piehl writes:
I haven't read the book, but I've heard this info at community meetings.
Some thoughts:
If a non-profit developed property enhances values by X amount, I wonder how
that compares to a privately developed property?
When renters in post-rehabilitation non-profit properties are compared to
renters in "the rest of the project neighborhood", are they comparing to renters
in privately rennovated buildings, or renters in blighted properties? It makes
a difference, as blighted properties would be far more likely to accomodate
problem renters than a recently rennovated property given the larger pool of
renters that gravitate to recently rennovated properties.
Does anyone know how this study was constructed? (yes, I know I should read the
book.....)
David Piehl
Central
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