The Value of Urban Forests: Empirical Analyses of Green Space Valuation

Principle Investigators:
Dr. David Newman, Professor,
Warnell School of Forest Resources, University of Georgia, Athens, GA
E-mail: newman@smokey.forestry.uga.edu
&
Dr. J. Michael Bowker, USDA Forest Service, Athens, GA
E-mail: mbowker@fs.fed.us


Beginning/Ending Dates: August 1, 2003, thru July 31, 2005

Brief Description:
Our initial forays into the valuation of urban trees have been bearing fruit. We have essentially completed an annotated bibliography of the use of hedonic methods in the valuation of urban amenities, including trees. We have completed our initial analysis of the impact of residential trees on housing values in Athens, Georgia, and have presented the results at the recent SOFEW conference in New Orleans (Sidor et al. 2005). Other submissions are being prepared. This research has allowed us the opportunity to examine the literature and to point to emerging questions and directions for future research.

Our current testing will enable us to examine questions regarding the use of benefit transfer techniques in the valuation of tree values. In addition, these new datasets may allow the investigation of the related question of the estimating of tree values for apartments and other commerial developments.

Objectives:

• Expand our hedonic analysis of residential tree valuation by adding at least 2 more city/county data bases;
  
• Initiate a hedonic valuation study for apartments and commercial properties;
  
• Invesitate the opportunity for benefit transfer of hedonic values;
  
• Initiate a GIS based analysis of the hedonic value of urban green space.