The Mt. Lebanon Real Estate Premium
Educational achievement is driven by: a) Students, b) Family, c) Faculty, d) Administration or e) Bricks and Mortar
A, B, C and D appear to be the critical factors. The article in today's Post Gazette about Mt Lebanon leading public schools in SW PA in SAT scores, makes me wonder how important "E" is. Will we be off the charts by spending money on a new High School or will it not move the needle? We are doing pretty well with our crummy, old, hard to get around, leaky window building.
Here is the P-G link:
http://www.post-gazette.com/pg/07056/764840-298.stm
Here are the questions that the comment prompts:
To what extent -- if any at all -- should development, re-development, and renovation decisions involving public facilities be guided by the need to protect residential real estate values? If, for example, having a "crummy, old, hard to get around, leaking window building" makes the jobs of Mt. Lebanon real estate agents more difficult, when St. Clair agents can point to a gorgeous new building, how should that factor into decisionmaking about the future of the high school? There are other examples of this sort of issue around Mt. Lebanon, both present and past. The question can be restated more bluntly: My taxes go up; public services may not improve, but real estate churn and a steady supply of "prestige" public and commercial properties ensures that neighboring houses increase in value each year. Is that a bargain that Mt. Lebanon should strike?
Discuss, and include flaws in or modifications of my premises. Thanks.