The Impact of Wind Power Projects on Residential Property Values ...

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A.3 OKCC Study Area: Custer County (Oklahoma) Figure A - 4: Map <strong>of</strong> OKCC Study Area Note: “Sold Homes” include all sold homes both before and after construction. Area Description This study area is entirely contained within Custer County, Texas, and includes the Weatherford wind facility, which is situated near the city <strong>of</strong> Weatherford, 70 miles due west <strong>of</strong> Oklahoma City and near the western edge <strong>of</strong> the state. <strong>The</strong> 98 turbine (147 MW) Weatherford wind facility straddles Highway 40, which runs East-West, and U.S. County Route 54, which runs North- South, creating an “L” shape that is more than six miles long and six miles wide. Development began in 2004, and was completed in two phases ending in 2006. <strong>The</strong> turbines are some <strong>of</strong> the largest in the sample, with a hub height <strong>of</strong> 262 feet. <strong>The</strong> topography <strong>of</strong> the study area is mostly flat plateau, allowing the turbines to be visible from many parts <strong>of</strong> the town and the surrounding rural lands. <strong>The</strong>re are a number <strong>of</strong> smaller groupings <strong>of</strong> homes that are situated to the North and South <strong>of</strong> the city, many <strong>of</strong> which are extremely close to the turbines and have dramatic views <strong>of</strong> them. 90
Data Collection and Summary County Assessor Debbie Collins and mapping specialist Karen Owen were extremely helpful in gathering data and answering questions at the county level. Data were obtained directly from the county and from Visual Lease Services, Inc and OKAssessor, where representatives Chris Mask, Terry Wood, Tracy Leniger, and Heather Brown helped with the request. All valid single-family residential transactions within five miles <strong>of</strong> the nearest wind turbine and occurring between July 1996 and June 2007 were included in the dataset, resulting in 1,113 sales. 107 <strong>The</strong>se sales ranged in price from $11,000 to $468,000, with a mean <strong>of</strong> $100,445. Because <strong>of</strong> the relatively recent construction <strong>of</strong> the facility, 58% <strong>of</strong> the sales (n = 637) occurred before construction, leaving 476 sales with possible views <strong>of</strong> the turbines. Of those 476 sales, 25 had more-dramatic view ratings than MINOR and 17 sales occurred inside <strong>of</strong> one mile. Area Statistics Study Period Study Period Number <strong>of</strong> Median Mean Minimum Maximum Begin End Sales Price Price Price Price 7/7/1996 6/29/2007 1,113 $91,000 $100,445 $11,000 $468,000 Facility Statistics Facility Name Number <strong>of</strong> MW Number <strong>of</strong> Turbines Announce Date Construction Begin Date Completion Date Turbine Maker Hub Height (Meters) Weatherford <strong>Wind</strong> Energy Center 106.5 71 Mar-04 Dec-04 May-05 GE <strong>Wind</strong> 80 Weatherford <strong>Wind</strong> Energy Center Expansion 40.5 27 May-05 Oct-05 Jan-06 GE <strong>Wind</strong> 80 Source: AWEA & Ventyx Inc. Variables <strong>of</strong> Interest Statistics Development Period Pre Announcement Post Announcement Pre Construction 1st Year After Construction 2nd Year After Construction 2+ Years After Construction Total Custer, OK (OKCC) 484 153 193 187 96 1113 View <strong>of</strong> Turbines Pre Construction None Minor Moderate Substantial Extreme Total Custer, OK (OKCC) 637 375 76 6 7 12 1113 Distance to Nearest Turbine Pre Construction < 0.57 Miles 0.57 - 1 Miles 1 - 3 Miles 3 - 5 Miles > 5 Miles Total Custer, OK (OKCC) 637 16 1 408 50 1 1113 107 Portions <strong>of</strong> the town <strong>of</strong> Weatherford, both North and South <strong>of</strong> the town center, were not included in the sample due to lack <strong>of</strong> available data. <strong>The</strong> homes that were mapped, and for which electronic data were provided, however, were situated on all sides <strong>of</strong> these unmapped areas and were similar in character to those that were omitted. None <strong>of</strong> the unmapped homes were within a mile <strong>of</strong> the nearest wind turbine. 91
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LBNL-2829E ERNEST ORLANDO LAWRENCE
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LBNL-2829E The <st
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Table of Contents
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List of Tables Tab
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Acknowledgements The</stron
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This report builds on the previous
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Table ES-2: Impact
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Figure ES-3: Base Model Results: Sc
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In the Distance Stability Model, fo
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1. Introduction Wind</stron
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model 7 and uses various forms <str
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A particularly useful application <
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Using different statistical methods
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Table 1: Summary of</strong
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By using a variety of</stro
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minimum of 164 fee
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3.2.2. GIS Data GIS data on parcel
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In addition to the qualitative VIEW
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with the rest of t
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Figure 4: Frequency of</str
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4. Base Hedonic Model This section
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impose the least structure on the u
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of the home, home
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etween the reference study area (WA
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Figure 7: Results from the Base Mod
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5. Alternative Hedonic Models <stro
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concentrated inside of</str
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all other components are as defined
Page 57 and 58: the distance from them might not oc
Page 59 and 60: explanation is that the additional
Page 61 and 62: 6) More than four years after const
Page 63 and 64: Table 19: Results from Temporal Asp
Page 65 and 66: Turning to the coefficient differen
Page 67 and 68: Table 21: Frequency Crosstab <stron
Page 69 and 70: 5.6.1. Dataset and Model Form Data
Page 71 and 72: with the scenic vista. In other wor
Page 73 and 74: 6. Repeat Sales Analysis In general
Page 75 and 76: Table 27: List of
Page 77 and 78: adjustment, and represent another t
Page 79 and 80: that are located within one mile <s
Page 81 and 82: 7. Sales Volume Analysis Th
Page 83 and 84: Figure 11: Sales Volumes by PERIOD
Page 85 and 86: three years before announcement), a
Page 87 and 88: 8. Wind Pr
Page 89 and 90: Drawing from the previous literatur
Page 91 and 92: Taken together, the results from al
Page 93 and 94: 9. Conclusions Though surveys gener
Page 95 and 96: Davis, L. W. (2008) The</st
Page 97 and 98: LeSage, J. P. (1999) The</s
Page 99 and 100: Watson, M. (2005) Estimation <stron
Page 101 and 102: Figure A - 1: Map of</stron
Page 103 and 104: all very small communities with lit
Page 105 and 106: A.2 TXHC Study Area: Howard County
Page 107: Census Statistics Name Type 2007 Po
Page 111 and 112: A.4 IABV Study Area: Buena Vista Co
Page 113 and 114: Variables of Inter
Page 115 and 116: facilities than the towns o
Page 117 and 118: A.6 WIKCDC Study Area: Kewaunee and
Page 121 and 122: elatively high elevations o
Page 123 and 124: A.8 PAWC Study Area: Wayne County (
Page 125 and 126: Census Statistics Name Type 2007 Po
Page 127 and 128: ural landscapes, with the largest p
Page 129 and 130: A.10 NYMC Study Area: Madison Count
Page 133 and 134: account, combined with the determin
Page 135 and 136: Appendix C: Field Data Collection I
Page 137 and 138: Figure A - 14: Field Data Collectio
Page 139 and 140: ABOVE AVERAGE VISTA PREMIUM VISTA 1
Page 141 and 142: EXTREME VIEW 6 turbines visible fro
Page 143 and 144: 5 is a vector of d
Page 145 and 146: values, that effect seems likely to
Page 147 and 148: unrestricted Home and Site Characte
Page 149 and 150: with coefficients above zero and th
Page 151 and 152: Figure A - 15: Histogram of
Page 153 and 154: The M Distance his
Page 155 and 156: sold within the preceding six month
Page 157 and 158: Appendix H: Alternative Models: Ful
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Table A - 8: Full Results for the C
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Table A - 10: Full Results for the
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Table A - 11: Full Results for the
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The Impact of Wind Power Projects on Residential Property Values ...

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