(1) From 10 Benefits of Establishing a Local Historic District (2015). Please see the article for more on each benefit. There’s also a video there on this subject.
- Local districts protect the investments of owners and residents of historic properties.
- Properties within local historic districts appreciate at rates greater than the local market overall as well as faster than similar, non-designated neighborhoods.
- Local districts encourage better quality design.
- Local districts help the environment.
- Local districts are energy-efficient.
- Historic districts are a vehicle for education.
- Historic districts can positively impact the local economy through tourism. “According to a 2009 report, 78% of all U.S. leisure travelers are cultural and/or heritage travelers who spent, on average, $994 on their most recent trips―compared to $611 spent by non-cultural and heritage travelers. “
- Protecting local historic districts can enhance business recruitment potential.
- Local districts provide social and psychological benefits.
- Local districts give communities a voice in their future.
(2) Michigan-based reports: 2014, Ten Years of Excellence: The Economic Impacts of Main Street in Michigan; 2006, Report Card: The Economic Impacts of Historic Preservation in Michigan; and 2002, Investing in Michigan’s Future: the Economic Benefits of Historic Preservation.