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The Environmental and Economic Benefits of Historic Preservation

by Cameel Halim

A licensed structural engineer with expertise in commercial and residential real estate, Cameel Halim serves as the founder and president of CH Ventures, LLC, a real estate investment firm with interests in Chicago and Wisconsin. Cameel Halim also encourages and engages in urban revitalization, which often involves historic preservation efforts.
The Washington Trust for Historic Preservation explains that historic preservation offers a wide range of long-term benefits to society, including sustainability benefits. According to the trust, historic preservation advances the practice of resource conversation by promoting restoration and redevelopment rather than new construction. Historic preservation efforts capitalize on the value of previous energy investment, while new construction negates past energy expenditure and consumes current energy resources.
Along with environmental advantages, recent research has shown that historic preservation delivers numerous economic benefits, such as job creation, local economic stimulation, and capital generation. Studies also indicate that buildings and homes located in historic districts appreciate at considerably higher rates than similar sites in non-historic districts at both the local and states levels. From the studies, it becomes apparent that investment in preservation is important because society values properties with historical significance.                            
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