NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Preserving History or Hindering Growth? The Heterogeneous Effects of Historic Districts on Local Housing Markets in New York City

Vicki Been, Ingrid Gould Ellen, Michael Gedal, Edward Glaeser, Brian J. McCabe

NBER Working Paper No. 20446
Issued in September 2014

---- Acknowledgments ----

We would like to thank Gerard Torrats-Espinosa for his exceptional research assistance. We also wish to thank Sara Lense and Paul Salama for their assistance in preparing and analyzing the data, and Rohan Jolly and Clint Wallace for their research on the law of historic designation and the policy controversies that accompany designation. We are grateful for suggestions and questions we received from participants in the 2011 and 2013 fall APPAM meetings, the 2013 AREUEA meetings, and Furman Center for Real Estate and Urban Policy brown bag lunch series. We would especially like to thank our conference discussants, Matthew Freedman and Claudia Sharygin. We are indebted to the Furman Center for Real Estate and Urban Policy at NYU for supporting this research, and to the Filomen D'Agostino and Max E. Greenberg Faculty Research Fund for support of Professor Been. Note that Professor Been worked on this project before she became Commissioner of Housing Preservation and Development in New York City. The views represented here are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Edward Glaeser ----

I have received speaking fees from organizations that organize members that invest in real estate markets, including the National Association of Real Estate Investment Managers and the Pension Real Estate Association.

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