Effect of historic designation on property values in the three historic districts in the city of Atlanta

The purpose of this paper is to analyze the effect of local historic designation on property values of the three historic districts in the City of Atlanta. The research includes background information on the three historic districts in Atlanta. A general literature review of the correlation between property value and historic preservation is provided. A brief history of Atlanta and the historic preservation movement in the City of Atlanta is given to assist the reader who in unfamiliar with the Atlanta area. The purpose behind this study is to compare the property values of the three historic districts in the City of Atlanta and determine if these values have been affected by historic designation, while controlling for inflation. The methodology used for this study is a time series design for the three locally designated historic districts of the City of Atlanta. The national historic preservation community has maintained and perpetuated a belief that designation stabilizes and increases property values. There has also been opposition to this belief, which claims that a historic district is too restrictive and discourages investment. This study will determine if the historic districts of the City of Atlanta reflect patterns of either of these two categories. After determining whether or not the property value of the historic districts in the City of Atlanta is affected by designation, it may be possible to make assumptions as to how and why designation has affected these districts.