April 2024

News + Updates


ESI Work Cited by the Biden-Harris Administration

Dr. Richard Voith's research on the effects of concentrated low income housing tax credit (LIHTC) development on surrounding house prices has been cited in the White House's Economic Report of the President.

The analysis shows that stand-alone and clustered LIHTC properties have positive spillover effects on property prices in the surrounding communities. Moreover, neighborhoods with 3 or more LIHTC developments had even larger positive spillovers on neighboring property values. The largest impacts occurred within ¼ of a mile of the LIHTC development and diminished as distance from it increased, with property prices experiencing positive impacts up to ½ mile away from the LIHTC development. These positive spillovers were evident across a variety of neighborhoods including low-income neighborhoods and higher-income neighborhoods, including both neighborhoods with larger Black populations and in those with lower Black populations.

Read the full research paper here.


Gina Lavery will speak on a panel at the Meet the Developers event hosted by the Center City Business Association, on May 15 at Rivers Casino Philadelphia.

This event will include a moderated discussion about current developments, rationale behind site selection, challenges to construction, and the anticipated impact of various projects on the city's overall economic growth and quality of life.

ESI is proud to sponsor the Riverfront North Spring Fling and Silent Auction. This fundraiser will take place on May 9 from 5:30 to 8:00 at Glen Foerd. Get tickets here

Frank Robinson spoke about affordable housing at the Hampton Road Justice Conference, hosted by Christopher Newport University. 

Staff and Senior Advisor Updates

Anne Bovaird Nevins recently wrote a blog post for Accelerator for America, looking at the total cost of natural disasters across the United States.

Stephen Tang will deliver remarks at Lehigh University's Graduate Commencement and Doctoral Hooding Ceremony on May 18. He has also been named chairman of the board of NOWDiagnostics.

Joyce Lee authored a blog post for Green Building United about the Philadelphia Environmental Justice Advisory Commission (PEJAC), of which she is the inaugural commissioner.

Bernie Markstein was quoted in a Bankrate.com article regarding a survey on the Federal Reserve's interest rates. 

Geoffrey Roche is featured on several podcasts this month: Workr Beeing, My Fourth Act, and HR Confessions. He was also featured in a Healthcare Finance article based on his presentation at HIMSS24.

This month, Cori Packard Beasley was interviewed on the Women in Property podcast, where she discussed navigating the real estate industry, mentoring the next generation, and more.

Four Considerations When Building a Climate Resilient Economy

The notion of a climate resilient economy—an economy that can come back from shocks or stresses prompted by extreme weather events, sea level rise, and shifting ecosystems—is a central concern for this era of public policy analysts and planners. NK Ezeobele explores four factors government entities should consider. 

Read more here.

U.S. - China Research

Chinese Smartphone Brands May Lag Behind a Generation Due to AI

In the new wave of artificial intelligence (AI) development driven by the U.S., the Chinese industry is striving to catch up. However, although the industry in China claims to possess technological prowess, the actual development situation shows that it is lagging in many aspects

Read more here

Present Value

Expensive Eggs and Rising Gas Prices: How Does Inflation Help Me Pay My Mortgage?

by Dr. Mark Robinson

Read a high-level overview of how inflation can at times help people with debt under different kinds of inflationary episodes. As part of this conversation, Dr. Robinson examines the difference between simple-price inflation and income-price inflation.

Read more

How Does Sea Level Rise Affect Us? Learning from New Jersey

by Hyojin Lee

We examine the growing threat of sea level rise and how it will impact daily life for New Jersey residents in this Present Value post. Hyojin also takes a look at regulatory measures being implemented to mitigate hazards and build more resilient communities.

Read more

The Role of Regression Modeling in Assessing Economic Impacts: A Focus on Transit Premium and Housing Values

by Angel Zhong

Angel Zhong reviews the economic impact transit proximity has on housing prices, which accounts for factors such as proximity to new transit options, property size, age, and neighborhood characteristics.

Read more

Client Spotlight

On May 13, the Navy Yard is hosting the 2nd Smart & Sustainable Mobility Showcase in partnership with Quebec, the City of Philadelphia, and SEPTA

Philadelphia Parks and Recreation has announced that Martin Luther King Drive will be closed to vehicular traffic on the weekends until late fall of 2024, allowing people of all ages a safe place to walk, run and roll. 

Congratulations to Philadelphian and former head coach of Temple University Women's Basketball Dawn Staley for having an undefeated season with the University of South Carolina and winning a 3rd championship title!

Pew Charitable Trusts has released its 2024 Philadelphia State of the City report. 

Delaware County was recently awarded $2.5 million in federal funding to improve safety along 291 in the City of Chester.

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