The Making of a Historic District and the Economic Impact upon Housing Value: An Empirical Analysis of the Tree Streets Neighborhood in Johnson City, Tennessee

Ke Chen

Department of Political Science, International Affairs, and Public Administration, East Tennessee State University, Johnson City, USA.

DOI: 10.4236/me.2013.412090                

Abstract

Many urban communities in the United States faced deteriorating physical infrastructure and social environment in the second half of the 20^th century. To restore such inner city neighborhoods, many neighborhoods have adopted historic preservation as a means to both aesthetically and fiscally improve the condition. This paper studies a historic district in the Tree Streets neighborhood, Johnson City, Tennessee in regard to its road toward historical preservation and neighborhood restoration. We find that through decades of a local civic organization’s efforts and government planning initiatives, the community has successfully turned from a university slum into a livable neighborhood. We also find that the benefits are not strictly nostalgic but there is a positive economic impact of historic preservation designation on property values. The making of the historic district in the Tree Streets neighborhood both socially and economically has provided a great example of smart growth for Johnson city and other American cities to revitalize urban residential neighborhoods in central cities.

 

Keywords

Historic Preservation; Revitalization; Property Value

Conflicts of Interest

The authors declare no conflicts of interest.

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