Browsing by Subject "Airports--Location"
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Item The effects of an airport relocation on property values: a noxious siting or community development?(2004) Konda, Laura Suzanne; Fullerton, DonThis dissertation estimates property value gains and losses resulting from an airport siting decision and the distributional effects among neighborhoods with different socio-economic characteristics. Airports are rich sitings for research because they are simultaneously amenities (employment centers, magnets for growth) and disamenities (sources of noise, congestion, danger). The hedonic analysis includes characteristics and prices of 21,000 houses sold in Austin between 1980 and 2001 combined with GIS maps and census data, to provide the capitalized costs and benefits of airports to homeowners. Chapter One, “A Comparison of Methodologies to Measure Effects of Airport Siting Decisions,” uses four model specifications to consider the removal of an airport. It proposes two modifications to the traditional hedonic model to account for the non-linearity in the effect of distance to an airport on house values and to separately measure the amenity and disamenity aspects of proximity. Here, noise, distance, and access are separately identifiable, with noise and proximity being disamenities, but access to the facility is a boost to house prices. House values near the old airport changed little with early announcements but changed more with groundbreaking then with the final switch to the new airport. Chapter Two, “Capitalized Gains and Losses from an Airport Relocation,” compares the net value of removing an airport to homeowners near the old airport to the net value of adding an airport to homeowners near the new airport. Houses near both airports gain value in net, though the value is larger at the new airport because few houses are in close proximity where prices tumbled the most and many houses lie along the route where prices climbed the most. Chapter Three, “House Price Gains and Losses: An illustration of environmental justice in a noxious facility relocation decision,” estimates the distributional effects of the airport sitings. In this case, the same income and ethnic groups that bear the burden receive the benefits from changes in house prices near both airports, but the variance between the gains and losses are largest for the poorest and the tracts with the highest concentrations of Native American, black, and foreign-born populations.