Taking the Measure of Business Improvement DistrictsOn July 25, 2007, the Furman Center for Real Estate and Urban Policy issued a report measuring the impact of New York City's Business Improvement Districts on the value of properties within their boundaries. The Benefits of Business Improvement Districts: Evidence from New York City is the first empirical analysis of the effects of BIDs on property values, and can be used to better understand the role these organizations play in local economic development. The study was covered by Crain's upon its release. “BIDs are widely touted as a way to increase business activity and boost the commercial success of a neighborhood,” said Ingrid Gould Ellen, co-director of the Furman Center and a professor at NYU’s Wagner Graduate School of Public Service. “We wanted to test how much of a difference BIDs really make, and whether their investments were being reflected in the property values of the communities they serve. While we expected we might find positive impacts, we did not expect that large BIDs would generate such substantial impacts, nor did we expect to see such a significant difference between the impacts of large and small BIDs.”
Taub, Furman Centers Launch Housing Breakfast Series
The Taub Center For Urban Policy Research and the Furman Center For Real Estate and Urban Policy have begun a monthly breakfast series on housing. The first breakfast on February 28th featured Jerilyn Perine, Commissioner of the NYC Department of Housing Preservation and Development and a former Wagner graduate student in urban planning, who spoke on "New Directions in Housing Policy."