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Did Southpoint Mall Lower Property Values?

by David Wang DP_WangDavid


2 Comments

  1. Hi David,

    Really interesting paper! I loved South Square mall as a child and was disappointed to see it close—didn’t realize at the time that this was a direct result of Southpoint’s opening.

    What I found particularly interesting about this was that prior research suggested housing price will decrease with proximity to a commercial area—to me proximity to stores, offices and entertainment would be a positive attribute to a home. Your finding that prices of houses within a 0.75-mile band around SPM rose is more consistent with my qualitative observations of life in and around SPM. In the years since the mall opened, a variety of apartment complexes and housing developments have popped up in the Southpoint area, most notably there is an apartment complex actually on the main through-way at the mall—I would be curious to see how rates at this complex compare to other complexes in the same school district.

    Another thing I am curious about is the effect Southpoint had on Durham overall—before Southpoint there were only Northgate and South Square malls, which couldn’t really compete with Crabtree and Triangle Town Center in Raleigh. Is a shopping center a compelling enough reason for families to choose Durham over Raleigh (assuming both cities are within reasonable distance of employment)?

    -Carmen

  2. David,

    Your Durham paper on the effect of Southpoint Mall on property values was extremely interesting and very well organized. The entirety of your paper was very easy to follow, as you clearly laid out a foundation and a roadmap to guide readers, allowing maximum readability and presenting a logical thought flow. The literature review is very clear and provides a comprehensive overview of the externalities of land use on surrounding property values. Although the theoretical model was somewhat complex with a number of different key variables, you were able to elegantly and effectively explain the methodology with which you analyzed your data. Although the empirical analysis you have provided in this paper is not a result of your original, independent findings, you managed to very clearly outline the key statistics of prior studies and explain the major findings in an easily comprehensible fashion (nice use of tables and graphs!). Overall, your paper is excellent and your strong conclusion really ties together the major themes of your study.

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