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LSE Business Review

BIDs bring benefits but gentrifies London

Helena Vieira

2024-02-16 05:00:28

Full article at: Source link

Summary

The article discusses the impact of business improvement districts (BIDs) in the UK, specifically in London. It highlights the positive effects of BIDs on house prices, as well as the potential for gentrification. The research also covers the formation and goals of BIDs, as well as prior research on the reduction of crime and increase in property values in other cities like Los Angeles and New York City.

Key Themes

BIDs Formation and Goals: The formation and objectives of business improvement districts, including their purpose, partnership structure, annual budget, and how they operate.
Prior research: The effectiveness of BIDs in reducing local crime and the impact on commercial and residential property values, as shown through previous studies in other cities.
Results: The positive impact of BID formation on house prices, the benefits extending to surrounding areas, and the effects on resident household profiles.

This information would be key for business leaders and decision makers in understanding the potential outcomes of implementing BIDs in their areas.

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