URBAN REDEVELOPMENT AND HOUSING VALUES: A CASE STUDY OF THE ATLANTA BELTLINE

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2018
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Haverford College. Department of Economics
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Thesis
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Award
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eng
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Open Access
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Abstract
The BeltLine is a large scale, publicly funded urban redevelopment initiative that is transforming the landscape of the city of Atlanta. With an expected completion date of 2030, the plan will ultimately connect 45 in-town Atlanta neighborhoods with a 22-mile loop of trails, parks, and an expansive streetcar system. Research regarding gentrification and public development projects gives rise to evidence of significant impacts on housing values. Using neighborhood-level price index data, this thesis examines the effect that the BeltLine has had on the value of homes at varying distances from the BeltLine across several different time periods and stages of the project’s completion. Depending on the time period and location of homes, values rose anywhere from 10% to around 40% due to announcement and construction of new phases of the BeltLine. These results point towards the success of the BeltLine as an urban redevelopment and renewal project, but several policy questions are also raised regarding some of the potential economic and social costs of the BeltLine’s implementation.
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