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1 Preservation Economics: Numbers Tell the Story:! taking the long view Tracking the Impact of Local Historic District Designation on Property Values, Greensboro, NC, Jo Ramsay Leimenstoll, AIA FORUM 2014!
2 Greensboro Local Historic Districts and Study Areas 3 local historic districts paired with 3 non-district study areas 1593 properties tracked over a 40 year time frame
3 College Hill Historic District Glenwood Study Area Local district designated in 1980 National Register District
4 College Hill Historic District Glenwood Study Area
5 College Hill Historic District Glenwood Study Area
6 College Hill Historic District Glenwood Study Area
7 Fisher Park Historic District Sunset Hills Study Area Local district designated in 1982 National Register District
8 Fisher Park Historic District Sunset Hills Study Area
9 Fisher Park Historic District Sunset Hills Study Area
10 Fisher Park Historic District Sunset Hills Study Area
11 Aycock Historic District Westerwood Study Area Local district designated in 1984 National Register District
12 Aycock Historic District Westerwood Study Area
13 Aycock Historic District Westerwood Study Area
14 Aycock Historic District Westerwood Study Area
15 College Hill HD and Glenwood Study Area 200, , , ,000 Assessed Value in dollars 120, ,000 80,000 60,000 40,000 College Hill HD Glenwood 20, College Hill 16,941 41,588 93, , , ,722 Glenwood 9,336 22,541 41,208 48,153 62,293 56,540
16 College Hill HD Glenwood Percent Change in Assessed Value:
17 Glenwood Study Area 2012! Properties acquired by UNCG Properties acquired by Preservation Greensboro!
18 Fisher Park HD and Sunset Hills Study Area 300, ,000 Assessed Value in dollars 200, , ,000 50,000 Fisher Park HD Sunset Hills Fisher Park 24,683 62, , , , ,242 Sunset Hills 23,427 59, , , , ,625
19 Fisher Park HD 200 Sunset Hills Percent Change in Assessed Value:
20 Aycock HD and Westerwood Study Area 180, ,000 Assessed Value in dollars 140, , ,000 80,000 60,000 40,000 Aycock HD Westerwood 20, Aycock 18,186 32,115 72,572 87, , ,162 Westerwood 17,607 37,984 82,709 96, , ,791
21 Aycock HD Westerwood Percent Change in Assessed Value:
22 ! ! Aycock District Percent Change for Last Two Assessments increase decrease
23 War Memorial Stadium Aycock Historic District!
24 Westerwood Study Area
25 Fisher Park HD Aycock HD HP!Tax!credit!projects!!!Fisher!Park!HD!=!59!! College!Hill!HD!=!11!! Aycock!HD!=!!12! Downtown! College Hill HD Map courtesy of the NC SHPO Preservation Tax Credit Projects in Greensboro non-income producing projects income-producing projects
26 College Hill HD The Province, $15 million student housing infill New Construction in the Historic District!
27 !! increase! decrease College Hill HD percent change by property!
28 College Hill HD Fisher Park HD Aycock HD Historic Districts Percent Change By Property increase decrease
29 By the numbers District and study areas increased at rates above the average in Greensboro and above the rates of post-1950s neighborhoods. This trend is continuing. The loss of historic properties in the three historic districts was minimal in the last 16 years: College Hill HD: 4 Glenwood: 28 Fisher Park HD: 6 Sunset Hills: 6 Aycock HD: 5 Westerwood: 13 Related Observations District Designation appears to have offered protection from expansions like the UNCG expansion into Glenwood. Design review due to district designation has resulted in new construction that is vetted by the community for compatibility. Greensboro Historic Districts Property Values Study
30 Limitations and other variables Straightforward study does not factor: property sales patterns construction permits issued foreclosure patterns owner/tenant occupancy ratio demographics of residents Change in assessment by Guilford County as of 2012: factored in number of low-income households in 2012 moving to assessments every 5 years instead of 8!!!!!! Greensboro district property values study
31 MaDhew!Catanzarite! GIS!mapping! Catherine!French! data!collecbon! Sunny!Stewart! excel!mentor! Special thanks goes to these three talented individuals for their invaluable support on this project.
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