The Impact of a Shopping Center on the Value of Surrounding Properties

  • April 21, 1985
  • • Written by: Peter F. Colwell Surinder S. Gujral Christopher Coley 

Spring/Summer 1985, Vol 10, No 1

Abstract: The question is whether neighborhood shopping centers increase, decrease or increase/decrease the value of proximate residential property. This paper analyzes the impact of a small neighborhood shopping center in Urbana, Illinois on the value of surrounding properties. A regression model is developed to explain the variations in property values before and after the announcement of the proposed shopping center.