Do Housing Rehabs Pay Their Way?

32 Pages Posted: 5 Jan 2007

See all articles by Robert A. Simons

Robert A. Simons

Cleveland State University

A.J. Magner

ICI-Delux Paints Real Estate

Esmail Baku

Neighborhood Reinvestment Corporation

Abstract

This research focuses on if housing rehabilitation by community development corporations pays its own way. The recent experience of ten local housing organizations in the Neighborhood Reinvestment Corporation network is examined. These organizations assist homeowners in rehabbing existing units and acquire, rehab and transfer units to new occupants. The findings indicate that rehabbed housing units provide substantial benefits to the local economy. The rehabbed units return $0.55, on average, for every local government dollar invested. In addition, economic benefits such as increased property values and tax base, and construction jobs and permanent jobs were created and sustained.

Keywords: rehabbed housing, rehabilitation, community development, Neighborhood Reinvestment Corporation

JEL Classification: R51, R52, R58, R31, R11-14, R21

Suggested Citation

Simons, Robert A. and Magner, A.J. and Baku, Esmail, Do Housing Rehabs Pay Their Way?. Journal of Real Estate Research Vol. 25, No. 4, 2003, Available at SSRN: https://ssrn.com/abstract=954997

Robert A. Simons (Contact Author)

Cleveland State University ( email )

Levin College 1737 Euclid, No. 128
Cleveland, OH 44115
United States
216-687-5258 (Phone)
216-687-9239 (Fax)

A.J. Magner

ICI-Delux Paints Real Estate ( email )

United States

Esmail Baku

Neighborhood Reinvestment Corporation ( email )

1325 G Street NW
Suite 800
Washington, DC 20005
United States

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
55
Abstract Views
807
Rank
670,186
PlumX Metrics