Economics of Historic Preservation

This introductory course provides, through readings and lectures, an overview of the theory and practice of heritage preservation-based community redevelopment and economics. Students learn about financial aspects of real estate development (including economic incentives and constraints) by developing case studies of recent historic rehabilitation projects throughout Minnesota in which they examine details such as financial feasibility and compliance with design guidelines and other regulatory aspects often encountered in the adaptive reuse of historic properties. They also consider financial incentives available in other states in an effort to understand how new policies in Minnesota might positively influence preservation activity.