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The Effect of Community Gardens on Neighboring Property Values

43 Pages Posted: 8 May 2008  

Ioan Voicu

Office of the Comptroller of the Currency (OCC)

Vicki Been

New York University School of Law

Abstract

Cities across the United States that have considerable vacant land are debating whether to foster community gardens on that land, while cities with land shortages are debating when to replace gardens with other uses. Meanwhile, many cities are looking for new ways to finance green spaces. Little empirical evidence about the neighborhood impacts of community gardens is available, however, to inform the debate or to help cities design financing schemes. This article estimates the impact of community gardens on neighborhood property values, using rich data for New York City and a difference-in-difference specification of a hedonic regression model. We find that gardens have significant positive effects, especially in the poorest neighborhoods. Higher-quality gardens have the greatest positive impact.

Suggested Citation

Voicu, Ioan and Been, Vicki, The Effect of Community Gardens on Neighboring Property Values. Real Estate Economics, Vol. 36, Issue 2, pp. 241-283, Summer 2008. Available at SSRN: https://ssrn.com/abstract=1127945 or http://dx.doi.org/10.1111/j.1540-6229.2008.00213.x

Ioan Voicu (Contact Author)

Office of the Comptroller of the Currency (OCC) ( email )

400 7th Street SW
Washington, DC 20219
United States

Vicki Been

New York University School of Law ( email )

40 Washington Square South
New York, NY 10012-1099
United States
212-998-6223 (Phone)
212-995-4341 (Fax)

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