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An Economic Analysis of Alternative Development Options in Coastal Marshlands Areas


PIs: Warren Kriesel (Ag & Applied Econ, University of Georgia, Athens, GA) and Jeff Mullen (Ag & Applied Econ, University of Georgia, Athens, GA)

Support: Georgia Sea Grant College Program, R/CED-2

Timeframe: 3/1/06 - 1/31/10

Project Objectives:

To identify important price determinants in coastal real estate markets with appropriate statistical and GIS tools, with particular attention to marshland environments.

To improve the information base on development alternatives available to public officials and private developers.

   

Accomplishments:
Data collection and analysis has been completed for Camden, Chatham and Glynn counties. The data describe individual properties,with particular attention to environmentally-friendly design characteristics including impervious surfaces, vegetated buffer, open space, and sidewalks. An econometric results indicate that the real estate market has capitalized the value of these and other property characteristics. [Overall, the results say that buyers place a premium on larger parcels, but this can be outweighed by the higher premium they place on planned open space inside the subdivision.] Therefore, property developers can use this information to design future developments that will be environmentally sensitive and more profitable.

   

    The project has been leveraged into a one-year agreement with the Coastal Resources Division of the Georgia DNR. The project will result in the production of a new economics chapter in the Green Growth Guidelines, and a website that presents economic decision tools for land developers, lenders, homeowners and local governments.

Presentations:

Kriesel, Warren, and Jeff Mullen.  “Are There Incentives for Growing Green? Evidence from the Coastal Marshlands of Georgia.”  Paper presented at the Western Regional Science Association meetings, Kona, HI, Feb, 2008.

Kriesel, Warren, “ Alternative Development Options in a Saltwater Marsh Environment.”  Paper presented at Regional Science Association International Meetings, Savannah, GA., November, 2007.

Kriesel, Warren, and Jeffrey Mullen, “Economics of Alternative Marshland Development Options.”  Paper presented at NOAA conference, Coastal Zone ’07, Portland OR, July, 2007.

Publications:


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This page was updated November 22, 2010