Urban Stream Restoration Projects: Do Project Phase, Distance, and Type Affect Nearby Property Sale Prices?

Abstract

Between 1990 and, more than 200 restoration projects were implemented in the Johnson Creek Watershed, Oregon, to mitigate storm water runoff, restore floodplains, remove invasive plants, restore wetlands, and improve fish and wildlife habitat. We use a repeat-sales model to investigate if restoration projects have an effect on the sale price of nearby single-family residential properties, and if estimated effects vary by project phase, distance, and type. Properties in closest proximity to storm water, floodplain, and revegetation projects experience a positive effect during different project phases. Estimated effects for wetland projects are negative for 9 of the 12 distance/project phase variables.

Residents' perception of flood risk and urban stream restoration using multi‐criteria decision analysis

“…In both S1 and S2, respondents' community participation and annual incomes are good indicators of higher flood risk perception, while those variables are not significant in S3 and S4. Such different finding is likely due to the fact that residents living near S1 and S2 have ready access to Johnson Creek Park and other stream restoration sites in downstream sections (Jarrad, Netusil, Moeltner, Morzillo, & Yeakley, 2018). Those who have higher incomes (S1 and S2) are likely to participate in such outreach activities.…”

Sustainable Flood Risk and Stormwater Management in Blue‐Green Cities; an Interdisciplinary Case Study in Portland, Oregon

“…BES, with assistance from the Johnson Creek Watershed Council and multiple other private organizations, subsequently invested in extensive river restoration, riparian planting, and installation of BGI to gradually restore and reconnect the creek to its remaining floodplains, reduce local flood risk (JCWC 2012), and improve water quality through, for example, installation of set‐back stormwater outfalls and pocket wetlands designed to trap pollutants (Janes et al 2016). A total of 209 restoration projects were undertaken between 1990 and 2014, producing positive impacts ranging from the return of native salmon ( Oncorhynchus ) to increases in the values of nearby residential properties (Jarrad et al 2018). The East Lents Floodplain Restoration Project is a good example of urban stream restoration and floodplain re‐creation.…”

Examining the effects of green infrastructure on residential sales prices in Omaha, Nebraska

“…Numerous studies on property value effects from greenspace exist in the literature, however the relationship between property values and GI is not as well examined. A search of the literature found some hedonic papers that examined the effect of GI on property values, notably Netusil et al (2014); Ward et al (2008); Ichihara andCohen (2011), andJarrad et al (2018). Netusil et al (2014) evaluated relationships between property values and green street projects (e.g., sidewalk bioswales, grassed swales, curb extensions, and corner bump-outs) in Portland, OR.…”

“…However, their model did not control for differences in apartment quality or other amenities, so results may be subject to omitted variable bias. Jarrad et al (2018) used a repeat-sales model to estimate the effects of urban stream restoration projects, several of which were undertaken primarily to mitigate stormwater runoff, on property values in Portland, OR. Estimated effects vary considerably, depending on distance, project phase (e.g., pre-project, post-project, mature), and project type, but little evidence was found to suggest that stream restoration systematically increased nearby property values (Jarrad et al, 2018).…”

“…Properties sold on multiple occasions in the same year are problematic because they produce sales pairs without a time difference between transactions (Case et al, 2006;Cohen et al, 2016;Jarrad et al, 2018). There have been various approaches used to address this issue (Case et al, 2006); we elected to randomly select a single observation from sales records pertaining to the same property and sales year.…”