Estimating the local economic impacts of HOPE VI

Zielenbach, Sean; Voith, Richard; Mariano, Michael

doi:10.1080/10511481003788794

Cited by 16 publications

(6 citation statements)

References 19 publications

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“…Several studies, using a range of methodologies, aim to quantify the demand-side impacts of housing projects or policies. Using the Regional Input–Output Multiplier (RIMS) modelling framework, Zielenbach et al (2010) investigate the economic impacts of the redevelopment and operation of the low-income housing HOPE VI program in the USA. The authors find significant direct, indirect and induced impacts in terms of employment and economic output across the program.…”

Section: Review Of the Literature On The Macroeconomic Impact Of Affo...mentioning

confidence: 99%

“…The authors find significant direct, indirect and induced impacts in terms of employment and economic output across the program. Similar to Zielenbach et al (2010), Campos and Guilhoto (2017) make use of an IO model for the economic impacts of the construction of a low-income housing program, this time the MCMV in Sao Paulo Brazil. For the study, an interregional IO model was employed, estimating the impacts in the Sao Paulo region as well as the rest of Brazil with different types of housing modelled.…”

Section: Review Of the Literature On The Macroeconomic Impact Of Affo...mentioning

confidence: 99%

See 1 more Smart Citation

The regional macroeconomic impact of projected affordable housing developments: Facilitating the ‘levelling up’ Agenda?

Boyle

Connolly

McGregor

et al. 2022

Local Economy: The Journal of the Local Economy Policy Unit

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While investment in social housing is mentioned in the Government’s white paper on levelling up, it does not receive the emphasis extended to infrastructure investment. Traditionally, the case for affordable housing was based on merit goods arguments. While the economic effects of housing have been explored, this has mainly been through traditional economic impact studies whose perceived weakness has led to a degree of policy scepticism around the findings of such studies. Recently, however, a strong case has been made for treating investment in housing on a comparable basis to infrastructure on the basis of its potentially important impacts on the supply side, stimulating labour supply and productivity. The purpose of this paper is to evaluate the potential economic impacts of meeting the projections of affordable housing needed in Scotland to combat homelessness using a framework that overcomes the weaknesses of conventional impact analyses.

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Section: Review Of the Literature On The Macroeconomic Impact Of Affo...mentioning

confidence: 99%

Section: Review Of the Literature On The Macroeconomic Impact Of Affo...mentioning

confidence: 99%

The regional macroeconomic impact of projected affordable housing developments: Facilitating the ‘levelling up’ Agenda?

Boyle

Connolly

McGregor

et al. 2022

Local Economy: The Journal of the Local Economy Policy Unit

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“…To our knowledge, only three studies have investigated the regional job creating impacts of social housing redevelopment programmes. 3 Zielenbach et al (2010) and Hanka et al (2015) used economic multiplier models to analyse the employment impacts of HOPE VI investments in several cities, concluding that these effects were substantial. Their method is essentially tautological, however.…”

Section: Potential Employment Impacts Of Social Housing Regeneration ...mentioning

confidence: 99%

The effects of social housing regeneration schemes on employment: The case of the Glasgow Stock Transfer

et al. 2021

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Regeneration is an internationally popular policy for improving distressed neighbourhoods dominated by large social housing developments. Stimulating employment is often touted as a secondary benefit, but this claim has rarely been evaluated convincingly. In 2003, Glasgow City Council transferred ownership of its entire social housing stock to the Glasgow Housing Association and over £4 billion was invested in physical repairs, social services and other regeneration activities. Using a linked census database of individuals (Scottish Longitudinal Study), we evaluate the causal effect of the Stock Transfer on employment in Glasgow through a quasi-experimental design that exploits idiosyncrasies and changes in Glasgow’s administrative boundaries. We find that the Stock Transfer had a positive effect on employment for Glasgow residents who were not living in transferred social housing stock. We establish that this effect was mainly accomplished through the local employment multiplier effect of capital spending rather than through any other programmatic elements of the Stock Transfer. Exploratory analysis shows heterogeneous effects: individuals who were over 21, female, living with dependent children and with less education were less likely to benefit from the intervention. We did not find significant subgroup effects by neighbourhood deprivation.

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“…VI grant on residential prices, while Castells (2010) found null effects. We identified an additional nine studies that lacked quasi-experimental design; four of them found statistically significant increases in property values through pre-post comparison of the HOPE VI neighborhood (Holin et al, 2003;Bair & Fitzgerald, 2005;Zielenbach & Voith, 2010;Zielenbach et al, 2010), and an additional five studies included only descriptive analyses and did not establish statistical significance of HOPE VI investments (Cloud & Roll, 2011;Turbov & Piper, 2005;Turner et al, 2007;Zielenbach, 2003aZielenbach, , 2003boverview in Popkin et al, 2004).…”

Section: Prior Research About Hope VI Effects On Local Real Estate Pricesmentioning

confidence: 99%

Does Large-Scale Neighborhood Reinvestment Work? Effects of Public–Private Real Estate Investment on Local Sales Prices, Rental Prices, and Crime Rates

Baird

Schwartz

Hunter

et al. 2019

Housing Policy Debate

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During the 1990s, the U.S. Department of Housing and Urban Development awarded more than $6 billion in competitive grants called HOPE VI to spur neighborhood redevelopment. We add to HOPE VI research by examining the impacts of a large set of public-private real estate investments, including HOPE VI, made over a 16-year period in a distressed Pittsburgh neighborhood called the Hill District. Specifically, we estimate the effects of the $468 million additional public-private investments that Hill District received compared to a demographically similar neighborhood on sale prices, rental prices, and crime. We find large and statistically significant impacts of the public-private investments on residential sales prices, commercial sales prices, and on rental prices, but only a marginally significant yet meaningful decline in non-violent arrests. For each additional $10 million of public-private investment, we find a 0.95 percent increase in residential sales prices, 2.7 percent increase in commercial sales prices, and 0.55 percent increase in rental prices. Because there was an accumulated difference over 16 years of $468 million in the amount of public-private investment across the two neighborhoods we examine, these percentage increases amount to large changes in real estate prices over that time. Commercial real estate investors and homeowners benefited the most, followed by residential landlords. Our analyses imply cities should anticipate the potential impacts of major neighborhood investment on low-income households, especially unsubsidized renters that most directly experience the brunt of rising rents.

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Estimating the local economic impacts of HOPE VI

Cited by 16 publications

References 19 publications

The regional macroeconomic impact of projected affordable housing developments: Facilitating the ‘levelling up’ Agenda?

The regional macroeconomic impact of projected affordable housing developments: Facilitating the ‘levelling up’ Agenda?

The effects of social housing regeneration schemes on employment: The case of the Glasgow Stock Transfer

Does Large-Scale Neighborhood Reinvestment Work? Effects of Public–Private Real Estate Investment on Local Sales Prices, Rental Prices, and Crime Rates

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