Table 4

Time to Capitalization of Effects of Brownfield Cleanup Program Site Entry and Cleanup on Local Property Values

(1) Log Sale Price
Entry (0–3 years)  0.0012 (0.0011)
Entry (3–5 years)  0.0029*** (0.0011)
Entry (5–7 years)  0.0048*** (0.0013)
Cleanup (0–3 years)–0.0020 (0.0017)
Cleanup (3–5 years)  0.0041** (0.0019)
Cleanup (5–7 years)  0.018*** (0.0034)
Controls:
  Quarter FEYes
  Property FEYes
  Census tract – Year FEYes
Observations123,852
R-squared0.89

  • Note: Standard errors are in parentheses and clustered at the property level. FE, fixed effects.

  • ↵** p < 0.05;

  • ↵*** p < 0.01.