Architecture Commons^™

Sustainable Adaptive Reuse – Economic Impact Of Cultural Heritage, Tris Kee

Faculty of Design & Environment (THEi)

Purpose

The purpose of this paper is to investigate the positive externalities of adaptive reuse of heritage buildings and the economic impact on adjacent residential property prices as adaptive reuse is emerging as a significant heritage management and cultural heritage conservation practice recognized by the International Council on Monuments and Sites.

Design/methodology/approach

Through mixed methodologies of hedonic price model and case studies of three tenement houses in Hong Kong, this paper argues that the adaptive reuse of heritage buildings increases the values of residential properties within the district and revitalizes the area economically and culturally because of the positive externalities …