Market impact of concrete batch plant

[Kirby Dog]

Hello. This is a twofold question. I am a Certified Appraiser living within less than 1/2 mile from a proposed concrete batch plant. While I am looking for any input on possible property devaluations for personal reasons, I also need insight for professional reasons. I recently declined an assignment in an adjacent neighborhood due to conflict of interest since I am actively working to stop the construction of this plant. Since this is a proposed plant in an acreage area that is primarily residential but does have mixed light commercial (wedding facilities, wineries, service dog training, etc) with, to date, no other industrial type properties, how is the best way to determine potential impacts to property values if the plant is built? Plant is just outside city ETJ, and within close proximity two three schools and a nursing home. The road it is proposed to be built on is not designed for the truck traffic being very narrow and winding. My home (as well as the residential appraisal I declined) are in deed restricted neighborhoods adjacent to the above described area. Probably too much information, but there are lots of moving parts. Any input or directions on where to research more would be greatly appreciated!

 

[Michigan CG]

We had one of these in one of the communities I work in and there was no detrimental effect on values. In another community we have a large quarry within 1/2 mile and it doesn't effect values either.

 

[Terrel L. Shields]

It is hard to determine an impact for same. I've never found any of our limestone or gravel quarries made much difference.

 

[Howard Klahr]

Is it to be a permanent or temporary plant?

 

[BRCJR]

I have a friend that installed a concrete plant in a small town. Zoning was OK for such.

I then had two friends that were hired by adjacent residents to determine if there was an adverse impact on their property values.

Dust, noise pollution and light pollution were major factors. Although in total compliance with the local authority the issue was settled out of court. The concrete plant paid the neighbors to "go away".

 

[Sid Holderly]

A batch plant may only be temporary while a road is being built or rebuilt. Also if construction picks up and the area is built up it may be a plus. The south side of Lafayette, IN is built around a concrete plant and it is the fast growing area of the city.

 

[Mark K]

Its a psychological detriment to value in the minds of the individuals currently living nearby.

I hear the same thing when a road is being widened from 2 to 4 lanes...how its "...going to destroy the value of my home...". Not really. When the homes eventually sell, there's no discernible effect on value to the new buyer.

You can do the research but I doubt that you'll find evidence of diminution in value.

 

[Red Flint]

A tough question, stigma effects on value likely heavily dependent on distance from the site, and perceptions in the affected communities.

Good place to start listed below, see references in rear of paper. They like hedonic regression analysis, but one would need credible data, time to build expertise, and processing programs to build a model for your location.

https://sge.lclark.edu/wp/wp-content/uploads/2014/05/Superfund-Stigma-Final-Version.pdf

 

[Mr Rex]

It would depend on how badly the market needed concrete.

 

[Michigan CG]