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The Impact of Community Development Corporations on Neighborhood Housing Markets

Modeling Appreciation

Western Michigan University

Housing investment activities of community development corporations (CDCs) can be associated with a positive impact on the residential real estate market within their respective service area. Relying on a pseudo-experimental approach, the appreciation rate of single-family housing in CDC treatment and comparison areas is tested with a traditional hedonic model with pooled data. The results suggest that the area that is served by the 12 established CDCs operating in Center Township in the city of Indianapolis experienced a higher overall appreciation in the mean residential home value from 1987 to 2000 than did a comparison area in Center Township not served by CDCs.

Key Words: urban redevelopment • housing • community investment

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				G. Galster, K. Temkin, C. Walker, and N. Sawyer Measuring the Impacts of Community Development Initiatives: A New Application of the Adjusted Interrupted Time-Series Method Eval Rev, December 1, 2004; 28(6): 502 - 538. [Abstract] [PDF]