The Economic Impact of Preserving Historic Buildings

GBX Group has engaged Rutgers Edward J. Bloustein School of Planning and Public Policy to study the economic impacts of GBX’s historic preservation properties in urban markets throughout the U.S. The school is one of the nation’s key centers for the theory, practice, and research of these impacts through the deployment of their proprietary R/ECON™ input-output (I-O) model. Rutgers has long been involved in the study of the economic impacts of historic preservation, having produced the Annual Report on the Economic Impact of the Federal Historic Tax Credit for the National Park Service. GBX has also partnered with PlaceEconomics to complete impact studies in Columbia, SC and Columbus, OH.

Empire Improvement Building, Cleveland, OH
Empire Improvement Building, Cleveland, OH

The Empire Improvement Building was constructed in 1913 and is a prominent structure in the Superior Avenue Garment District of Cleveland, Ohio. After being nearly vacant for decades, an extensive rehabilitation completed in February 2018 transformed the historic building into…

View the Report
The Yuster Building, Columbus, OH
The Yuster Building, Columbus, OH

The Yuster Building (also known as the Empire Building), completed in 1924, is a Beaux-Arts Style steel-frame building designed by noted Columbus, OH architect…

View the Report
The Foundry Hotel Asheville, Asheville, NC
The Foundry Hotel Asheville, Asheville, NC

Built in 1915, the Asheville Supply & Foundry Company provided steel to build much of early Asheville, including the expansion of the Biltmore Estate. The foundry had been abandoned for years when in 2016, …

View the Report
YWCA Building, Nashville, TN
YWCA Building, Nashville, TN

This Georgian Revival style building was designed by Chicago architects, Shattuck & Hussey, who were the sole designers of more than sixty Christian Association buildings. The new YWCA opened its doors on…

View the Report
Pepper Building, Winston-Salem, NC
Pepper Building, Winston-Salem, NC

The 1928 Pepper Building, named after the family that owned the parcel, was constructed as a department store and is a very good local example of Art Deco design. The building reflects the important urban and…

View the Report