The Benefits of Historic Preservation
Historic preservation is a dynamic and evolving field that can be used to safeguard our built environment for future generations and as a tool to improve local economies and communities.
The benefits of historic preservation include serving as a catalyst for the revitalization of blighted areas, helping to create vibrant, thriving neighborhoods rooted in their unique history and character, attracting tourists, and acting as cultural hubs for the creative industry. Benefits of historic preservation can also be less tangible such as seen in the field’s positive impact on the environment. By reducing the need for new construction and promoting sustainable land use practices, historic preservation is on the forefront of the “green movement.” Find out more about how preservation benefits us all:
Economic Benefits
Preservation is simply a good, forward looking, economic development strategy that is as much about community and positive economics as it is about protecting our architectural heritage. Preserving places fosters economic development by attracting visitors to historic places which promotes tourism, creating jobs through rehabiliation projects, and revitalizing neighborhoods thereby spurring investment.
Local districts protect the investments of owners and residents, and potential buyers know that the aspects that make a particular area attractive to them will be protected over time. Real estate agents in many cities use Historic District status as a marketing tool to sell properties.
Nationwide, study after study has shown that properties in National Register listed and/or Local Historic Districts have more stable property values, and often economically outperform other areas within the same city. In most Connecticut communities, homes in a Local Historic District have property values that increase at a faster rate than those located outside of a district. These increases are between 4%-19% per year. Donovan Rypkema, principal of Place Economics and one of the nation’s leading preservation economists, says:
“Protecting the character of a neighborhood can have economic benefits. No matter the region of the U.S. or the wealth within a neighborhood, rates of real estate appreciation in local historic districts outpace comparable neighborhoods and the city as a whole. Local districts’ property appreciation even outperforms those on the National Register. It’s almost counterintuitive, but it’s really because of the protections that a local district provides that the National Register does not provide.”
Historic preservation tax credits are a powerful economic tool that help spur revitalization, private investment, and job creation in the community. Maintaining and/or rehabilitating an older Building contributes to the local economy by employing local tradespeople, and by bringing new businesses and people to the community, which, in turn, generates tax revenue for the state and local economies.
A recent study found that during fiscal year 2022, Connecticut projects using the Federal Historic Tax Credit generated $150.5 million in total Rehabilitation costs. This $150 million investment, created 2,155 full and part time jobs of which 1,317 were located in Connecticut; generated $104,800,000 in income nationally, including $66,900,000 in Connecticut; and recouped $21,754,600 in federal, state, and local taxes.
Also, between 2019-2024, the CT State Historic Rehabilitation Tax Credit Program (C.G.S. section 10-416c) generated $127,779,445 in tax credit vouchers, which leveraged $507,375,637 in private investment, and created:
- 2,405 new residential units;
- including 1,155 affordable housing units;
- over 800,456 square feet in commercial space.
Cultural/Tourism Benefits
People also want to interact with historic buildings, as we see through the rise of heritage tourism, now the fastest growing segment of the tourism industry globally. About half of travelers will pay more for lodging that has a distinctive cultural or heritage component (historic building, local art or decor, interesting architecture). Furthermore, it has been shown through comparative studies that there is a greater sense of relatedness, more innovative use of materials, and greater public appeal within historic districts than in areas without historic designations.
Cultural venues for the arts, music, and theater are often housed in historic buildings. From the Bushnell Theater and Wadsworth Museum in Hartford, to Infinity Hall in Norfolk, and the Garde in New London, visiting these venues becomes part of the cultural experience.
Community Benefits
Community is the essence of historic preservation. When we think of the 169 towns and more than a thousand villages, we visualize their unique buildings or pattern of development. It is this character that differentiates the many places in our small state. Historic preservation is not the opposite of development and is not intended to stop growth. Instead, it can facilitate growth and make sure that it is rooted in the history and character of the community.
A community benefits from having a concerted and well-defined planning approach for the protection of historic buildings while accommodating healthy growth. Preservationists recognize that communities need to grow and be dynamic to remain viable, but that development can be carefully considered and planned with an overall vision that includes all aspects of the past, present, and future.
Educational Benefits
Historic preservation differentiates itself from just history. Historic properties are authentic. They validate and provide testimonials to history. These properties allow us to learn about Connecticut and its communities, and:
- Are a continuous source of inspiration for interpreting and reinterpreting the past
- Literally embody historical information
- Invite discussion & exploration of virtually every aspect of human life – economics, social relations, familial Structure, politics, etc.
- Each generation will learn different lessons from them according to their needs
Environmental Benefits
Preservation has been at the forefront of the “green movement” for 50 years and preservation jobs are the ultimate green jobs, those that help make our existing buildings more energy efficient and contribute to more sustainable communities.
Adaptively reusing and rehabilitating historic buildings is the quintessential form of recycling, and the greenest building is almost always the one already standing.
PCT tracks demolitions of historic properties for towns that have a delay of demolition ordinance. Although data is reliant on municipalities’ self- reporting, an alarming increase in demolition of historic properties has been recorded.
In 2021, 26 municipalities provided data on 253 demolitions, compared to 191 reported in 2020, and 121 in 2019. That’s a 32% increase in demolition of typically sound, well-built historic structures in the course of one year, and a 109% increase since 2019.
What’s more, those 253 demolished buildings total approximately 1,328,447 square feet (that is over 30 acres or the area of more than 23 football fields) of wood framing, brick chimneys, stone foundations, wood flooring, and historic windows, not to mention carpeting, linoleum, drywall, and other non-historic materials that wound up in landfills. Now, think about the fact that these numbers represent only 15% of towns in the state. What would the number be for all 169?