Wednesday, July 20, 2011

Economics students study nonprofit's effect on property values, neighborhood satisfaction in Lynchburg neighborhood

The work of numerous Randolph College economics students has culminated in a project showing how nonprofits have improved the quality of life in one Lynchburg neighborhood.

For several years, students in Elizabeth Perry-Sizemore’s economics classes have studied the economic and social impact of Lynchburg Neighborhood Development Foundation (LNDF), which restores condemned homes and helps home buyers receive low-interest mortgages. During Randolph College’s 2011 Summer Research Program, Safiyah Lopez ’11 and Shradha Shrestha ’11 completed the research.

Their data analysis showed that LNDF’s restoration of condemned homes has helped raise the assessed values of neighboring properties. Based on the results of community satisfaction surveys, they concluded that the efforts of LNDF and other nonprofits have helped residents become more satisfied with their neighborhood.

“Residents who do not have vacant properties nearby have a greater neighborhood satisfaction,” Lopez said.

Lopez and Shrestha plan to present their findings to the Tinbridge Hill community members at a meeting in September.

Read more about the partnership between Perry-Sizemore’s students and LNDF in this Randolph Magazine story.