From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house prices
We examine how converting an industrial heritage site in Aarhus, Denmark, into a center for arts and culture affects nearby residents’ welfare. Using a hedonic house‑price model and a difference‑in‑differences design, we track apartment prices before and after the conversion. Prices within the neigh...
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2025-06-01
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| Series: | Frontiers in Sustainable Cities |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/frsc.2025.1522520/full |
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| author | Lasse Læbo Matthiesen Marie Lautrup Toke Emil Panduro |
| author_facet | Lasse Læbo Matthiesen Marie Lautrup Toke Emil Panduro |
| author_sort | Lasse Læbo Matthiesen |
| collection | DOAJ |
| description | We examine how converting an industrial heritage site in Aarhus, Denmark, into a center for arts and culture affects nearby residents’ welfare. Using a hedonic house‑price model and a difference‑in‑differences design, we track apartment prices before and after the conversion. Prices within the neighborhood rose by 2.3–3 % relative to the rest of the city. This uplift represents a welfare gain of €17.5–21 million for the local community. As one of the few quasi‑experimental evaluations of creative‑led heritage revitalization, our study provides rigorous causal evidence of substantial indirect economic benefits. This evidence can guide future investments to convert disused industrial buildings into cultural and recreational spaces that serve local communities. |
| format | Article |
| id | doaj-art-b330fc369ef34ce4b6c2d6ecd233c169 |
| institution | OA Journals |
| issn | 2624-9634 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Sustainable Cities |
| spelling | doaj-art-b330fc369ef34ce4b6c2d6ecd233c1692025-08-20T02:05:17ZengFrontiers Media S.A.Frontiers in Sustainable Cities2624-96342025-06-01710.3389/frsc.2025.15225201522520From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house pricesLasse Læbo Matthiesen0Marie Lautrup1Toke Emil Panduro2Copenhagen Business School, Frederiksberg, DenmarkDepartment of Food and Ressource Economics, University of Copenhagen, Copenhagen, DenmarkDepartment of Environmental Science, Aarhus University, Aarhus, DenmarkWe examine how converting an industrial heritage site in Aarhus, Denmark, into a center for arts and culture affects nearby residents’ welfare. Using a hedonic house‑price model and a difference‑in‑differences design, we track apartment prices before and after the conversion. Prices within the neighborhood rose by 2.3–3 % relative to the rest of the city. This uplift represents a welfare gain of €17.5–21 million for the local community. As one of the few quasi‑experimental evaluations of creative‑led heritage revitalization, our study provides rigorous causal evidence of substantial indirect economic benefits. This evidence can guide future investments to convert disused industrial buildings into cultural and recreational spaces that serve local communities.https://www.frontiersin.org/articles/10.3389/frsc.2025.1522520/fullhedonicvaluationculture investmenturban renewalindustrialrevitalization |
| spellingShingle | Lasse Læbo Matthiesen Marie Lautrup Toke Emil Panduro From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house prices Frontiers in Sustainable Cities hedonic valuation culture investment urban renewal industrial revitalization |
| title | From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house prices |
| title_full | From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house prices |
| title_fullStr | From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house prices |
| title_full_unstemmed | From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house prices |
| title_short | From industry to center for arts and culture: the impact of industrial heritage transformation on neighborhood house prices |
| title_sort | from industry to center for arts and culture the impact of industrial heritage transformation on neighborhood house prices |
| topic | hedonic valuation culture investment urban renewal industrial revitalization |
| url | https://www.frontiersin.org/articles/10.3389/frsc.2025.1522520/full |
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