Conservation Designation and the Revaluation of Property: the risk of heritage innovation

The relationship between the designation of heritage areas, property values and the role of local authority policy is examined through the case of Canada's oldest and largest Heritage Conservation District, St. John's Newfoundland. Investment in renovation by public authorities and individuals is a risky undertaking which does not necessarily result in private and public gains. The causes of the failure of the St. John's Heritage Conservation Area (HCA) to generate private property investment for renovation and enhancement of the historic district are investigated. Conclusions are drawn about the relationship of local authority goals and policies and private initiatives so that the preconditions for possible success and the minimising of risk, of relevance elsewhere, can be established.