What is the value of brownfields? A review of possible approaches

Valuing Complex Natural Resource Systems: The Case of the Lagoon of Venice

Volumn , Issue , 2006, Pages 143-161

  Tonin, Stefania ^a  

^a IUAV University   (Italy)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84865626810     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Chapter

References (55)

1. Appraisal Institute of Canada (1998), 'Environmental Impacts', Appraisal Guidelines, available at http://www.pwgsc.gc.ca/realproperty/text/pubs_valuation/toc-e.html (last access: November 2005).
2. Bartsch, C., (2001), 'Financing Brownfield Cleanup and Redevelopment', available at http://www.nemw.org/brownfin.htm (last access: November 2005).
3. Bible, D.S., C. Hsieh, G. Joiner and D.W. Volentine (2001), 'Environmental Effects on Residential Property Values Resulting from the Contamination Effects of a Creosote Plant Site', paper presented at the 'I Congresso Mondiale della International Real Estate Society in Alyeska Resort', July 2001.
4. Bond, S. (2000), 'Estimating Stigma of Ex-Contaminated Land: the Buyer Beware Principle Reigns', paper presented at the 6th Conference of Pacific Rim Real Estate Society, Sydney, 23-27 January 2000.
5. Bond, S. (2001), 'Conjoint Analysis: Assessing Buyer Preferences for Property Attributes to Assist with the Estimation of Land Contamination Stigma', Paper presented to at the Conference of Pacific Rim Real Estate Society, Adelaide, 21-24 January, 2001.
6. Chan, N. (2000), 'How Australian Valuers Value Contaminated Land', paper presented at the Conference of Pacific Rim Real Estate Society, Sidney, 23-27 January 2000.
7. Chan, N. (2001), 'Stigma and its Assessment Methods', paper presented at the Conference of Pacific Rim Real Estate Society, Adelaide, 21-24 January 2001.
8. Dale, L., J.C. Murdoch, M.A. Thayer and P.A. Waddell (1997), 'Do Property Values Rebound from Environmental Stigmas? Evidence from Dallas', Law and Economics Consulting Group, Emeryville.
9. Dixon, T.J. (1996), 'Contaminated Land: a changing landscape', Estate Gazette, 9608, 136-8.
10. Elliot-Jones, M. (1999), 'Markets for Contaminated Properties', Paper n. 19, Bala Research Inc.
11. Fisher, J.D., G.H. Lentz and K.S.M. Tse (1992), 'Valuation of Commercial Properties Contaminated With Asbestos', Journal of Real Estate Research, 7, 331-50.
12. Gronow, S. (1998), 'Contaminated Land: The Inevitability of an Explicit Appraisal Model', Property Management, 16(1), 24-32.
13. Gronow, S. (1999), 'Contaminated Land: Quantifying the Inputs to an Explicit Appraisal Model', Property Management, 17(2), 169-85.
14. Guntermann, K.L. (1995), 'Sanitary Landfills, Stigma and Industrial Land Values', The Journal of Real Estate Research, 10(5), 531-42.
15. Hirshfeld, S., P.A. Veslind and E.I. Pas (1992), 'Assessing the True Cost of Landfills', Water Management and Research, 10, 471-84.
16. Howland, M. (2002), 'What Makes for a Successful Brownfield Redevelopment? Three Baltimore Case Studies', available at http://www.smartgrowth.umd.edu/ research/researchpapers-landuseandenvironment.htm (last access: November 2005)
17. Hurd, B.H. (2002), 'Valuing Superfund Site Cleanup: Evidence of Recovering Stigmatized Property Values', The Appraisal Journal, 70(4), 426-37.
18. Ihlanfeldt, K. R. and L.O. Taylor (2004), 'Externality Effects of Small-scale Hazardous Waste Sites: Evidence from Urban Commercial Property Markets', Journal of Environmental Economics and Management, 47, 117-39.
19. International City/County Management Association (2001), Brownfields Redevelopment: A Guidebook for Local Governments and Communities, Second Edition, chapter 6.
20. Jackson, T.O. (2001), 'The Effect of Environmental Contamination on Real Estate: A Literature Review', Journal of Real Estate Literature, 9(2), 93-116.
21. Jackson, T.O. (2002), 'Environmental Contamination and Industrial Real Estate Prices', Journal of Real Estate Research, 23(1/2), 179-99.
22. Jackson, T.O. (2003), 'Appraisal Standards and Contaminated Property Valuation', The Appraisal Journal, 71(2), 127-33.
23. Keating, D.M (1994), 'Appraising Continuing Care Retirement Centers: The Income Approach', The Appraisal Journal, 62(4), 546-52.
24. Ketkar, K. (1992), 'Hazardous Waste Sites and Property Values in the State of New Jersey', Applied Economics, 24, 647-59.
25. Kiel, K.A. (1995), 'Measuring the Impact of the Discovery and Cleaning of Identified Hazardous Waste Sites on House Values', Land Economics, 71, 428-35.
26. Kiel, K.A. and K.T. McClain (1995), 'House Price Recovery and Stigma after a Failed Siting', Applied Economics, 28, 1351-8.
27. Kiel, K. and J. Zabel (2001), 'Estimating the Economic Benefits of Cleaning Up Superfund Sites: The case of Woburn, Massachusetts', Journal of Real Estate Finance and Economics, 22(2/3), 163-84.
28. Kinnard, W.N. and E.W. Worzala (1999), 'How North American Appraisers Value Contaminated Property and Associated Stigma', The Appraisal Journal, 67(3) 269-78.
29. Kohlhase, J.E. (1991), 'The Impact of Toxic Waste Sites on Housing Values', Journal of Urban Economics, 30, 1-26.
30. Leon, H. (2003), 'Squeezing Green out of Brownfield Development', National Real Estate Investor, 45 (6), 48-51.
31. Liang, N. (1992), 'Putting a Price on the Problem -Valuation Issues', Conference paper, Drivers Jonas, London.
32. McCluskey, J.J. and G.C. Rausser (1999), Stigmatized Asset Value: Is it Temporary or Permanent?, College of Natural Resources, University of California, Berkeley.
33. McGrath, D.T. (2000), 'Urban Industrial Land Redevelopment and Contamination Risk', Journal of Urban Economics, 47, 414-42.
34. McLean, D.G. and B. Mundy (1998), 'The Addition of Contingent Valuation and Conjoint Analysis to the Required Body of Knowledge for the Estimation of Environmental Damages to Real Property', Journal of Real Estate Practice and Education, 1(1), 1-19.
35. Mundy, B. (1992), 'Stigma and Value', The Appraisal Journal, 60(1), 7-13.
36. Munneke, H.J. (1996), 'Redevelopment Decisions for Commercial and Industrial Properties', Journal of Urban Economics, 39, 229-53.
37. Neustein, R.A. (1992), 'Estimating Value Diminution by the Income Approach', The Appraisal Journal, 60(2), 283-7.
38. OECD (2000), 'Urban Brownfields', OECD Territorial Development Service.
39. Patchin, P.J. (1988), 'Valuation of Contaminated Properties', The Appraisal Journal, 10, 7-16.
40. Patchin, P.J. (1991), 'Contaminated Property: Stigma Revisited', The Appraisal Journal, 56 (1), 167-72.
41. Patchin, P.J. (1994), 'Contaminated Properties and the Sales Comparison Approach', The Appraisal Journal, 62(3), 402-9.
42. Ramsett, D.E. (1998), 'The Cost Approach: An Alternative View', The Appraisal Journal, 20, 172-80.
43. Roddewig, R.J. (1996), 'Stigma, Environmental Risk and Property Value: 10 Critical Inquiries', Appraisal Journal, 67, 98-102.
44. Roddewig, R.J. (1999), 'Classifying the Level of Risk and Stigma Affecting Contaminated Properties', Appraisal Journal, 31, 98-102.
45. Schoenbaum, M. (2002), 'Environmental Contamination, Brownfields Policy, and Economic Redevelopment in an Industrial Area of Baltimore, Maryland', Land Economics, 78(1), 60-71.
46. Simm, G. (1992), 'Problems for the Valuation Surveyor', paper presented at Seminar on Environmental Assessment, Sheffield City Polytechnic, 5 March 1992.
47. Smith, V.K. and W.H. Desvousges (1986), The Value of Avoiding a LULU: Hazardous Waste Disposal Sites', The Review of Economics and Statistics, 68, 293-9.
48. Strachota, R.J. (1998), Stigma Damage: Recent Trends Affecting the Value of Contaminated Properties, Shenehon Company, available at http://www.shenehon.com/ Library/valuation_viewpoint/stigma.htm (last access: November 2005).
49. Thayer, M., H. Albers and M. Rahmatian (1992), 'The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic Housing Value Approach', The Journal of Real Estate Research, 7(3), 265-82.
50. Urban Institute, Northeast-Midwest Institute, University of Louisville, University of Northern Kentucky (1997), The Effect of Environmental Hazards and Regulation on Urban Redevelopment, UI Project N. 06542-003-00.
51. US Environmental Protection Agency (2001), The Brownfields Economic Redevelopment Initiative Proposal Guidelines for Brownfields Cleanup, EPA 500-F-01-348.
52. Weber, B.R. (1997), 'The Valuation of Contaminated Land', Journal of Real Estate Research, 14(3), 379-98.
53. Wilson, A.R. (1992), 'Environmentally Impaired Valuation: A Team Approach To a Balance Sheet Presentation, Technical Report: Measuring the Effects of Hazardous Materials Contamination on Real Estate Values: Techniques and Applications', Appraisal Institute, 23-42.
54. Wilson, A.R. (1994), The Environmental Opinion: Basis for an Impaired Value Opinion', The Appraisal Journal, 62(3), 410-23.
55. Wolfe, C.R. (2000), 'Turning Brownfields Green is a Team Effort', available at http://www.djc.com/special/environment2000/wolfe.html (last access: November 2005).