Unit 4
Does Heritage Pay?

Because heritage is both a cultural and an economic commodity, the value of heritage property does not depend solely on its intrinsic economic worth. Although conservation and development are commonly considered to be in opposition to each other, a growing interest in the integration of sites and buildings into sustainable communities demands a balance between the two.

Learning Objectives

After completing this unit, you should be able to:

1. Explain the history and role of property tax and insurance regimes in built heritage conservation.
2. Outline the central debates between demolition and conservation stakeholders.
3. Discuss the role of heritage preservation in economic revitalization.
4. Describe some alternative stewardship and partnership mechanisms and strategies.