Page 16 - Waxahachie, TX Residential Design Guidelines

IntroductIon

e c o n o m i c c o m p o n e n t o f

s u s t a i n a b i l i t y

This component of sustainability relates to the economic
balance and health of the community. Historic buildings represent
a substantial economic investment by previous generations.
The economic benefits of protecting historic resources are well
documented across the nation. These include higher property
values, job creation in rehabilitation industries, and increased
heritage tourism. Quality of life improvements associated with
living in historic neighborhoods may also help communities recruit
desirable businesses.

Historic Rehabilitation Projects
Direct and indirect economic benefits accrue from a rehabilitation
project. Direct benefits result from the actual purchases of labor
and materials, while material manufacture and transport results in
indirect benefits. Preservation projects are generally more labor
intensive, with up to 70% of the total project budget being spent on
labor, as opposed to 50% when compared to new construction. All
of these purchases of labor and materials add dollars to the local
economy. Further, a rehabilitation project will provide functional,
distinctive, and affordable space for new and existing small
businesses. This is especially relevant to the local economy where
many local businesses operate in historic buildings.

Heritage Tourism
The National Trust for Historic Preservation defines cultural
heritage tourism as, “traveling to experience the places, artifacts,
and activities that authentically represent the stories and people
of the past and present. It includes cultural, historic, and natural
resources.” Heritage tourism is another benefit of investment
in historic preservation, as people are attracted to the cultural
heritage sites within the area. Historic resources provide visitors
with a glimpse into Waxahachie’s history. Heritage tourists spend
more on travel than other tourists, which generates jobs in hotels,
bed and breakfasts, motels, retail stores, restaurants and other
service businesses.

8 Waxahac hie Residential design guidelines