| Summary: | Thesis: M.C.P., Massachusetts Institute of Technology, Department of Urban Studies and Planning, 2015. === Cataloged from PDF version of thesis. === Includes bibliographical references (pages 105-107). === Adaptive reuse and historic rehabilitation have been utilized as a development strategy since the creation of the Federal Historic Preservation Tax Credit in 1976. In many cases, the adaptive reuse of vacant properties has been utilized as a tool for neighborhood economic development and revitalization. This strategy has increased in popularity since the start of the 21st century, with many states creating additional historic tax incentive programs, and investment in rehabilitation projects using the Federal Historic Tax Credit reaching nearly $6 billion in 2014. This thesis examines three residential projects in Massachusetts developed during the 1980s, in order to investigate the long-term impacts of adaptive reuse on the surrounding neighborhood. The case studies include the Baker Chocolate Factory in Dorchester, Museum Square in Lawrence, and the Francis Cabot Lowell Mill in Waltham. Through an in depth analysis of these case studies using qualitative and quantitative research methods, this thesis connects aspects of the development process and external influences to positive or negative neighborhood development outcomes. Findings reveal that these case studies had varied impacts on their surrounding neighborhoods; while the Baker Chocolate Factory development was associated with increased property values and additional investment, the Museum Square project appeared to affect very little change in the adjacent community. From these findings, it appears that residential adaptive reuse is an effective tool for neighborhood social and economic development under the right political and economic conditions, and with strategic decision-making during the development process. Key factors that contributed to the success of the adaptive reuse projects focused on in this thesis include the following: effective use of financial incentives and subsidies, local political support, local resident involvement, CDC and nonprofit involvement, and the presence of broader plans for neighborhood revitalization. The thesis concludes by presenting recommendations for how the strategy of adaptive reuse can be improved to have a more significant, positive long-term impact on the surrounding community. === by Evan C. Easterbrooks-Dick. === M.C.P.
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