University of Hawaiʻi–West Oʻahu Instructor of Economics Peiyong “Patricia” Yu published the paper “The Effect of Eminent Domain on Private and Mixed Development on Property Values” in the Journal of Regional Analysis and Policy.
The purpose of the study was to assess the impact of eminent domain for private and mixed development on property values in Rochester, New York within an approximately nine-year period following policy announcements and start of construction.
“There were two major eminent domain cases in Rochester—Midtown Plaza redevelopment purely for private development, and the Brooks Landing project for both public and private revitalization,” said Yu. “I was curious to see how those eminent domain cases would affect the property values citywide and regionally.”
By using both parametric and semiparametric models, Yu concluded that the Midtown Plaza redevelopment project generated positive policy effects on property values across the city. However, homeowners lost property value if they lived within a one-mile radius of the Midtown Plaza center after the policy announcement. There was no significant credible policy impact from the Brooks Landing project due to many construction false start announcements.
Yu’s research focuses on regional economics, environmental economics and urban economics.
—By Julie Funasaki Yuen
