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• J ESS ICA BOATWRIGHT ( V I R G I N I A T E C H )
• KURT STEPHENSON , P H D ( V I R G I N I A T E C H )
• KEVIN BOYLE , P H D ( V I R G I N I A T E C H )
• SARA N IENOW ( N O RT H C A R O L I N A D E PA RT M E N T O F E N V I R O N M E N T A N D N AT U R A L R E S O U R C E S )
STORMWATER CONTROL INFRASTRUCTURE AND
RESIDENTIAL PROPERTY VALUES
Cam
p R
eso
urc
es
XIX
August
6, 2
01
2AUTHORS:
URBAN STORMWATER MANAGEMENT IN THE UNITED STATES
Conventional Infrastructur
e• Channelization
and treatment
Green Infrastructur
e• Volume
reduction
Rulemaking• Energy
Independence and Security Act of 2007
• EPA national stormwater program
http://www.deldot.gov/stormwater ian.umces.edu/imagelibrary
OBJECTIVE
• To investigate property price effects of differing residential infrastructure design features that affect stormwater runoff • Cul-de-sacs• Curb-and-gutters• Wide streets
THE DATA
Retrieved 7.13.12 maps.google.com
• Hanover County, VA • 1,363 transactions between 1995 and
1996• Average sale price: $273,365 ($2011)• Chesapeake Bay Watershed
Chesapeake Bay Landsat image
HEDONIC-PRICE EQUATION
Key Variables:• Cul-de-sacs (CUL)• Curb-and-gutters (CURBGUTTER) • Street widths (STW≤30)• STW>30 is the omitted category
LN(SP) = β0 + β1(SQFT) + β2(SQFT2) + β3(TOTALBATH) + β4(AGEWHENSOLD)+ β5(ACRES) + β6(ACRES2)+
β7(BLGD12R)+ β26(CUL) + β27(CURBGUTTER) + β28(STW≤30)
+ Β10(REC)+ ε
+ β11-25 z’sd
+ β8(OS12) + β9(OS12T)
ESTIMATION RESULTS (SPATIAL ERROR MODEL)
Policy VariableCoefficient(standard
error)
% Δ in sale price
$ amount(average
priced home: $273,365)
CUL0.013**
(0.007) 1.3% $3,500
CURBGUTTER 0.076*** (0.016) 7.6% $20,700
STW≤30 0.038*** (0.014) 3.8% $10,400
Note: * = significant at 10% level ** = significant at 5% level *** = significant at 1% level
RESULTS INDICATE FOR AN AVERAGE PRICED HOME OF $273,365 THAT:
Excluding cul-de-sacs and requiring narrower streets in new subdivisions could
have a net positive effect on property prices of about $6,900 ($10,400 − $3,500) while also enhancing stormwater control.
The price premium of narrow streets could not offset the price diminution of
eliminating curb-and-gutters (−$10,300 = $10,400 − $20,700).
POLICY IMPLICATIONSFocusing rule discussions only on
infrastructure construction costs may not reflect the full net costs of stormwater
controls
Conventional curb-and-gutters could be designed with intermittent cuts or
diversions into bioretention and infiltration trenches
Cul-de-sacs with a “donut” design reduce effective impervious cover and
corresponding runoff
Virginia Department of Conservation and Recreation
Rhode Island Stormwater Solutions