JESSICA BOATWRIGHT (VIRGINIA TECH) KURT STEPHENSON, PHD (VIRGINIA TECH) KEVIN BOYLE, PHD (VIRGINIA...

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JESSICA BOATWRIGHT (VIRGINIA TECH) KURT STEPHENSON , PHD (VIRGINIA TECH) KEVIN BOYLE , PHD (VIRGINIA TECH) SARA NIENOW (NORTH CAROLINA DEPARTMENT OF ENVIRONMENT AND NATURAL RESOURCES) STORMWATER CONTROL INFRASTRUCTURE AND RESIDENTIAL PROPERTY VALUES Camp Resources XIX August 6, 2012 AUTHORS:

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Stormwater Control Infrastructure and Residential Property Values

Jessica Boatwright (Virginia Tech)Kurt Stephenson, PhD (Virginia Tech)Kevin Boyle, PhD (Virginia Tech)Sara NienoW (North Carolina Department of Environment and Natural Resources)

Stormwater Control Infrastructure and Residential Property Values

Camp Resources XIXAugust 6, 2012

AUTHORS:We are currently in the revision and resubmission proccess for the Journal of Water Resources Planning and Management 1Urban stormwater management in the United StatesConventional InfrastructureChannelization and treatment

Green InfrastructureVolume reductionRulemakingEnergy Independence and Security Act of 2007

EPA national stormwater program

http://www.deldot.gov/stormwaterian.umces.edu/imagelibrary2ObjectiveTo investigate property price effects of differing residential infrastructure design features that affect stormwater runoff Cul-de-sacsCurb-and-guttersWide streetsThere could be effects, other than changes in capital costs, of implementing low impact/green infrastructure to reduce stormwater volume3

The DataRetrieved 7.13.12 maps.google.comHanover County, VA 1,363 transactions between 1995 and 1996Average sale price: $273,365 ($2011)Chesapeake Bay Watershed

Chesapeake Bay Landsat imageAbove average sale price? 44% on cul-de-sac, 35% on curb-and-gutter; residential single-family transactiond4Hedonic-price equationKey Variables:Cul-de-sacs (CUL)Curb-and-gutters (CURBGUTTER) Street widths (STW30)STW>30 is the omitted category

LN(SP) = 0 + 1(SQFT) + 2(SQFT2) + 3(TOTALBATH) + 4(AGEWHENSOLD)

+ 5(ACRES) + 6(ACRES2)+ 7(BLGD12R)+ 26(CUL) + 27(CURBGUTTER) + 28(STW30) + 10(REC)+

+ 11-25 zsd+ 8(OS12) + 9(OS12T)

5Estimation Results (Spatial Error Model)Policy VariableCoefficient(standard error)% 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 STW30

0.038*** (0.014)3.8%$10,400 Note: * = significant at 10% level ** = significant at 5% level *** = significant at 1% level6Results indicate for an average priced home of $273,365 that:7Policy ImplicationsVirginia Department of Conservation and RecreationRhode Island Stormwater SolutionsVirginia Department of Conservation and Recreation Rhode Island Stormwater Solutions8