Comment 91332

By erskinec (registered) - website | Posted August 24, 2013 at 09:41:39 in reply to Comment 91289

True, Hamilton is not covered by this research. Nevertheless, the point of the research is to draw conclusions that can be applied to all communities.

With regards to commercial properties, the 2000 paper by Professor Shipley looked a designated properties and compared them to sales data for all properties (including commercial). He and his researchers excluded churches, cemeteries and city properties because of a lack of published sales data. Commercial properties were included but likely given less weight than residential.

The 2005 Lazarus paper did look at commercial properties. In particular, Professor Shipley and the other researchers did explore whether there were differences in returns based on the size of the projects (residential or commercial).

Again, while costs may vary (between new and old), developers were able to achieve returns on their investment.

So, the research counters those who would argue that developers can't make money off heritage properties or that heritage properties are not good re-sell investments for potential buyers.

Comment edited by erskinec on 2013-08-24 09:56:22

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