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Presentation: Property-Value Movement in Old North Durham

By Katerina Valtcheva.

Presentation slides: DP_Valtcheva_Katerina


3 Comments

  1. This is a really interesting comparison between Old North and East Durham. It would also be interesting to see the demographic change through the past few years in both areas? I would assume that more young professionals moved to Old North Durham due to the affordability and exciting venues nearby.

    In terms of the regression model on housing sales price, I think you should also take into account some potential confounding variables, such as crime rate and income level, in your final term paper. Maybe it would give some interesting insights. Good luck!

  2. Katerina,
    Having also written a Durham paper about the revitalization of an economically depressed Durham neighborhood, I found your paper and presentation on the changing demographics and housing prices in Old North Durham as a result of increased economic activity in the area to be very fascinating. Your comparison of Old North Durham, which has experienced an inflow of new business investments such as Fullsteam Brewery and Motorco Music Hall, with East Durham, which hasn’t experienced such changes, to be very well done, and the presentation of this contrast helped demonstrate the positive effects of such economic activity in Old North Durham.
    One inquiry that I would encourage you to look into is how the revitalization of this area will affect the lower-income residents living there. Gentrification and revitalization of an area has many positive effects including raising housing prices and adding amenities to previously depressed areas. However, with increasing housing costs, low-income residents often can no longer afford the housing they were living in and are forced to find housing elsewhere. This is one of the greatest criticisms of gentrification, and I would be interested to hear your opinion on whether low-income individuals in the Old North Durham will be able to stay there as it continues to develop. Furthermore, if low-income residents can no longer afford housing in the area, where do you think they will move to?

  3. Katerina,

    Great job on your paper and presentation. I work part-time in Old North Durham, on Geer St. so it was really interesting seeing how the area has developed in comparison to a similar neighborhood. Only four years ago, most of us Dukies probably hadn’t even heard of Geer St., and now almost everybody has been there!

    Some of the questions that your paper brought to mind were:
    1) How far-reaching are the home value benefits of development around Fullsteam, MotorCo, and Cocoa Cinnamon? Is there an inflection point somewhere as you move further away from all the business activity?

    2) When business owners were first choosing to locate in Old North Durham, what made it more attractive than Edgemont? This isn’t the focus of your paper, but there might be some interesting business location theory at play.

    3) Does the development of Old North Durham prevent the development of East Durham for the time being? Or can both areas develop simultaneously? Will low-income residents from Old North Durham move to Edgemont?

    Most of all, I think it will be fascinating to actually observe the changes over the next 5, 10, and 15 years. I can only imagine what Durham will look like since it has changed so much in only 4 years!

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