We’ve all often heard the expression, “It’s cheaper to build new than it is to reconstruct.” That’s not true. I’ve always found that it’s much cheaper to use an existing structure. Now, doing so is more complicated, and you actually have to be a better builder to do that kind of work, but if you know what you’re doing, it costs you less money. A lot of the building is already done – you already have your structure – so that’s why it’s much cheaper.
– Donald Trump
While we are not ones to normally quote the great wigged one, clearly Mr. Trump realizes the financial benefits of heritage preservation.
The economic value of heritage
This comparison is for every $1 million in investment:
| Non-Residential Historic Rehabilitation |
New Construction |
| Generated 38.5 jobs | Generated 36.1 jobs |
| $1,302,000 in income | $1,223,000 in income |
| $1,711,000 in gross domestic product |
$1,600,000 in gross domestic product |
| $202,000 in taxes | $189,000 in taxes |
At a recent workshop hosted by Heritage Guelph, members of Guelph City Council heard that not only does heritage preservation make great business sense, it is also good for the environment.According to Donovan Rypkema, principal of Place Economics, Washington, D.C.:
- Demolishing a typical two-storey downtown building wipes out the entire environmental benefits of 1,344,000 recycled pop cans
- Embodied energy in heritage buildings equals money in the bank(the embodied energy in the shell of a two-storey, three-unit, brick apartment building = 32,000 litres of gasoline)
For the full power point presentation, check out Heritage Presentation PP