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Comparative Analysis of Housing in Conservation Developments: Colorado Case Studies

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  • Christopher Hannum
  • Steven Laposa
  • Sarah Reed
  • Liba Pejchar
  • Lindsay Ex

Abstract

Conservation development (CD) is an approach to the site design of a development property that combines residential development and land conservation. CD has been heralded as an environmentally-friendly development alternative and a means to finance land conservation. We employ a Box-Cox hedonic methodology using transaction data for all CD subdivisions in five Colorado counties, as well as a unique sample of homes in comparable nearby rural non-CD subdivisions to assess the value of the CD amenity to homeowners. Our research demonstrates significant sales price premiums for homes located in regulated and unregulated CDs relative to comparable non-CDs.

Suggested Citation

  • Christopher Hannum & Steven Laposa & Sarah Reed & Liba Pejchar & Lindsay Ex, 2012. "Comparative Analysis of Housing in Conservation Developments: Colorado Case Studies," Journal of Sustainable Real Estate, Taylor & Francis Journals, vol. 4(1), pages 149-176, January.
    • Handle: RePEc:taf:rsrexx:v:4:y:2012:i:1:p:149-176
    DOI: 10.1080/10835547.2012.12091835
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