HOPE VI: An Analysis to Determine the HOPE VI Program's Influence on Home Sales

This article will examine the original Housing Opportunity for People Everywhere (HOPE) VI sites in the cities of Atlanta, Baltimore, Charlotte, and Washington, D.C., to determine if surrounding home sales increase after its completion. The author utilizes an Adjusted Interrupted Time Series (AITS) method, first developed by Galster, Temkin, Walker, and Sawyer (2004 Galster , G. C. , Tatian , P. , & Petit , K. ( 2004 ). Supportive housing and neighborhood property value externalities . Land Economics , 80 ( 1 ), 33 – 54 .[Crossref], [Web of Science ®] , [Google Scholar]), to examine the effects of the HOPE VI program on local real housing prices (which is utilized as a proxy for local economic development in this paper and in previous urban economic research). The author found that the prices of housing units in the HOPE VI concentric rings of a half mile and 1 mile around the HOPE VI site increased after completion. The results also showed that the housing price trend around the HOPE VI site began to increase after the completion date of each site. The price trend of housing units in the inner ring of the HOPE VI sites grew more than those in the outer ring. Therefore, the results indicate that the HOPE VI site has a significant and positive influence on housing prices.