BENEFITS OF A HISTORIC DISTRICT

It’s been said that the one of the best ways to ensure a neighborhood’s future is to recognize its past. By recognizing the historical significance of Goodyear Heights and taking appropriate steps to preserve it and promote it, both our residents and our city government are making a statement that “we believe in this neighborhood’s future.”

Historic designation—whether it’s on the local, state or national level—signifies that a neighborhood is important, and worthy of preservation and protection. It says “this place is special” – and that translates into more community pride, more development opportunities and support for strong property values.

Studies have overwhelmingly shown that historic designation—supported by a community that actively works to preserve the historic character of a neighborhood, increases overall property values and investment levels. Undervalued properties become “worth” fixing up, and property owners realize that sensitive, historically-appropriate repairs provide a higher return on their investment. This effect is borne out through numerous marketing studies, realtor interviews and sales statistics.

With the City of Akron’s new policies on tax abatements for property improvements and repairs, it's easy to see that these investment can pay off. They pay off even more if they are done right—and that means doing them in a way that enhances the historic character of a property, whether it’s a home or a commercial building.

In addition to the ways it can make a neighborhood look better and live better, historic designation and encouragement of repairs/upgrades/restoration by homeowners also has a strong economic impact. A historic designation, along with the establishment of a neighborhood CDC (Community Development Corporation) can help attract private investment, foundation funding and public funding to support the efforts of homeowners. In addition, it supports jobs involving the work of construction, design and restoration specialists who can both perform the work and provide technical assistance and advice to homeowners.