[CPEO-BIF] "Measuring the Affect of Brownfield Clean-up on Surrounding Real Estate Values"

[Lenny Siegel <lsiegel@cpeo.org>]

Measuring the Affect of Brownfield Clean-up on Surrounding Real Estate Values

by J. Nicholson
Hazmat Management
August 11, 2016  

A study on the benefits of cleaning up brownfield sites versus the cost was recently published by a professor at North Carolina State University.  The North Carolina State study attempts to determine if the benefits of cleaning up contaminated sites outweigh the costs.  

The study was different from previous attempts to determine the post clean-up value of properties surrounding a contaminated site in that its addresses an important source of omitted variable bias and allows identification of stigma effects in a way not seen in past studies.  The study estimated difference-in-differences models that pool observations across a metro area and across time, as well as repeat sales models that rely on multiple transactions per home.

The study itself consisted of an examination of the effects of cleaning up brownfield sites in the state of Minnesota and determining the before and after land value of nearby properties.…

For the entire article and a link to the study, see
http://www.hazmatmag.com/hazmat/measuring-affect-brownfield-clean-surrounding-real-estate-values/1003274398/

--

Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

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