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Economic Impacts of Residential Property Abandonment and the Genesee County Land Bank Urban Revitali

Economic Impacts of Residential Property Abandonment and the Genesee County Land Bank Urban Revitali 2025

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The report examines the economic impacts of residential property abandonment in Flint, Michigan, and the role of the Genesee County Land Bank (GCLB) in addressing these issues. It highlights how abandoned properties negatively affect surrounding property values and discusses GCLB's programs aimed at revitalizing neighborhoods through property management, demolition, and rehabilitation efforts. The study uses a hedonic price model to quantify the effects of abandoned structures on housing prices, revealing that GCLB's demolition program has significantly increased property values in affected areas, with an estimated net benefit exceeding $109 million from demolitions alone.

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