A Study of Natural Gas Compressor Stations and Residential Property Values January 5, 2016 ... (PDFDrive)

RESEARCH REPORT:
A Study of Natural Gas Compressor Stations

and Residential Property Values
DATE REPORT:
January 5, 2016
PREPARED FOR:
Tennessee Pipeline Company LLC
PREPARED BY
Steven R. Foster, MAI

LPC Commercial Services, Inc.
53 State Street, 8th Floor
Boston, MA 02109
Research Report
A Study of Natural Gas Compressor Stations Page 2
TABLE OF CONTENTS
Page
TABLE OF CONTENTS................................................................................................................ 2
I. EXECUTIVE SUMMARY ....................................................................................................... 3

II. REPORT..................................................................................................................................... 9
PURPOSE ....................................................................................................................................... 9
HYPOTHESIS ................................................................................................................................ 9
METHODOLOGY ....................................................................................................................... 10
TERMINOLOGY ......................................................................................................................... 13
CASE STUDIES ........................................................................................................................... 16
CONCLUSIONS........................................................................................................................... 23
III: COMPRESSOR STATION STUDIES .............................................................................. 25

COMPRESSOR STATION 270 B1, PELHAM, NH ................................................................... 25
COMPRESSOR STATION 267, HOPKINTON, MA ................................................................. 48
COMPRESSOR STATION 264, CHARLTON, MA ................................................................... 85
COMPRESSOR STATION 261, 1615 SUFFIELD STREET, AGAWAM, MA ...................... 104
COMPRESSOR STATION 254, ROUTE 66, CHATHAM, NY............................................... 137
IV: REVIEW OF PUBLISHED LITERATURE .................................................................. 137
V: CONCLUSION .................................................................................................................. 140
VI: QUALIFICATIONS .......................................................................................................... 141

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I. EXECUTIVE SUMMARY
This study has been undertaken to measure the impact of compressor stations associated
with high pressure natural gas transmission pipelines (pipelines) on residential property values.
Compressor stations are external property characteristics (externalities), or uses in a
neighborhood, community, or larger area that influence the decisions of buyers and sellers and,
therefore, have the potential to impact property values. Positive externalities are typically
thought of and referred to as amenities. Amenities for residential properties typically include
access to parks, playground, open space, quality schools, services, public transportation and
highways. Negative externalities are sometimes referred to as disamenities and have been
referred to in some appraisal literature as neighborhood nuisances. Examples of externalities that
might be classified as a neighborhood nuisance include, but are not limited to, airports, prisons,
industrial uses, landfills, incinerators, power plants, compressor stations, windmills,
contaminated sites, railroads, highways, pipelines and power lines. These externalities are
thought to have the potential to negatively impact property values. Interestingly, some
externalities can be viewed as both an amenity and a disamenity. Convenient highway access is
generally viewed as an amenity, but highway noise is generally viewed as a disamenity. Access
to public transportation is generally viewed as an amenity, but close proximity to a noisy bus
terminal or railroad tracks is generally viewed as a disamenity.
The hypothesis of this study is that compressor stations are an externality that might be
viewed by market participants as a disamenity or neighborhood nuisance. The presence of
compressor stations could influence the decisions of buyers and sellers and, therefore, impact
residential property values. The most heavily impacted properties should be properties located
closest to a compressor station and any impact should be readily measurable from available
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market data. The study is not intended to measure whether an individual property has ever been
impacted by proximity to a compressor station, but whether there is a systematic, measurable
impact on land use and residential property values in general.
The study relies on real estate appraisal methodology and techniques to analyze market
transactions to measure the impact of a property’s proximity to a compressor station. Transaction
data involving properties located in close proximity to a compressor station are analyzed and
compared with transaction data for similar properties located greater distances from the
compressor station. Data on over 700 transactions has been analyzed using comparative analysis,
a general appraisal term for quantitative and qualitative techniques used to derive a value
indication for a property or particular characteristics of a property. The data analysis techniques
relied upon includes paired data and group data analysis. Graphic analysis and regression
analysis has not been utilized in this study due to a lack of sufficient transaction data. In addition,
the study included interviews with market participants experienced in developing, marketing and
valuing residential properties, town officials and the review of other literature on these impacts.
Four primary case studies have been presented in this report using transaction data for
residential properties located near existing compressor stations in Pelham, New Hampshire, and
Hopkinton, Agawam and Charlton, Massachusetts. These primary case studies were selected
because of their similarity to proposed compressor stations in New Ipswich, New Hampshire,
and Dracut, Northfield and Windsor, Massachusetts, as these compressor stations are generally
located on larger sites in rural or semi-rural areas. These rural and semi-rural locations limit the
market data available for analysis, particularly for properties in very close proximity to the
compressor station as there are fewer properties in these locations and, therefore, few
transactions to consider. Additionally, the comparative analysis is complicated given the natural
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dissimilarities in properties located farther from the compressor station. These properties are
often located in different areas of a town and sometimes are even located in different towns or
different states. Different neighborhoods, towns and states can be more or less desirable, having
different access to public transportation, highways, recreation, employment and other residential
linkages, as well as being negatively impacted by other externalities or neighborhood nuisances
such as airports, power plants, landfills, contaminated sites and power lines. These locational
differences, as well as differences in the physical characteristics of the properties, makes this
analysis more difficult and subjective. Despite these conditions, opinions can still be developed
from the data, and no data was uncovered that indicates a measurable impact in terms of the
marketability of residential properties or values of residential properties due to their proximity to
a compressor station, with new development occurring near compressor stations, and
neighborhoods located near compressor stations retaining residents and exhibiting similar value
trends and sales activity as other neighborhoods not located near compressor stations. New
construction near these existing compressor stations indicates that people appear to be indifferent
to building, purchasing and living in homes in close proximity to these compressor stations
despite having other alternatives.
Interviews were conducted with town officials for each of the four communities. A
representative from the assessor and building departments were interviewed in each community
and sometimes other government representatives such as the police or clerk were interviewed to
determine if the existing compressor station had been found by the assessor to impact property
values and if any complaints had been registered by area residents for noise, vibrations, odors or
other conditions that might impact the use and enjoyment of nearby residential properties. No
issues were uncovered in these interviews. Interviews were also conducted with officials in
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Chatham, New York relative to a compressor station in that community, with the Chatham
building inspector reporting that there was one complaint about noise at the Chatham compressor
station. The noise reportedly was related to equipment issues, and upon notification was
immediately repaired and no further complaints have been registered with the town.
No published literature was found relative to the impact of compressor stations on
residential property values. The literature on the impact of pipelines is somewhat limited, but all
of the literature I reviewed concludes that pipelines have no measurable impact on residential
property values. The studies I have completed on pipelines produced similar conclusions. There
are numerous articles and studies on the impact of high voltage transmission lines (HVTL) on
residential property values. These studies generally conclude to either no measurable impact or a
small impact that dissipates rapidly with distance from the HVTL. The studies that concluded to
an impact on value generally found the impact to be relatively minor and to impact only
properties that were both located close to the power lines and had significant views of the power
lines. There are many studies that have found that industrial uses can impact residential property
values, although the impact seems related more to the particular use of the property than the
actual building. Uses that produce noise, odors and heavy truck traffic are more likely to impact
the values of nearby residential properties. My review of this literature suggest that well
designed and well situated compressor stations should, at most, have minimal impact on nearby
residential properties and any impact should be limited to properties located in very close
proximity to the compressor station.
No data was uncovered in this study that suggests that proximity to compressor stations
measurably impacts value or land use. The study shows that compressor stations appear to have
no widespread, systematic impact on value or land use, particularly outside of 0.5 miles from the
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compressor station, as high end homes have been constructed and sold within about this distance
of the Hopkinton and Agawam of compressor stations. Condominium developments have been
developed in even closer proximity to the Agawam and Pelham compressor stations. The
Agawam condominium units are located in very close proximity and were all constructed after a
compressor station was constructed and operational. These units are also impacted by the
pipeline and HVTL. An analysis of these sales and interviews with real estate agents found no
measurable impact. The units in Pelham were mostly constructed before the compressor station,
but a few units were built after, and all of these units were built on a site that was impacted by an
existing pipeline. An analysis of these sales found no measurable impact. Limited recent
development has occurred near the Charlton compressor station.
The conclusion of this study is that these compressor stations have no impact on
residential property located as close as 0.5 miles of the compressor station. The study, given the
lack of sales data, is less conclusive as to any impact on properties located within 0.5 miles of
these four compressor station. The lack of data simply reflects the limited number of properties
within 0.50 miles of these compressor stations2. The transaction data for properties in close
proximity to the Pelham compressor station indicates no measurable impact, but the compressor
station is located in an industrial park and the closest transactions are still at least 0.15 miles
from the compressor station. The transaction data for several sales located adjacent to the
2
Compressor stations are typically located on larger sites. Of the four compressor stations in this study,
Pelham has the smallest site at 11.6± acres. It is located in an industrial park that contains over 100 acres
and is surrounded by wetland areas. The second smallest is Hopkinton at 19.3± acres. It is also
surrounded by other industrial type uses (LNG tanks and plant) as well as a large site formerly used by
Weston Nursery and now proposed for residential development. The Charlton site contains 33.9± acres
and the Agawam site contains 41.1± acres. For reference, a 35±-acre parcel contains 1,524,600± square
feet (35 x 43,560 SF), and if a perfect square, measures approximately 1,235 feet on each side. A distance
of 1,235 feet represents 23% or 0.23 miles. The size of these compressor station sites, along with the open
space associated with adjoining land uses, limits the number of properties within 0.25 miles.
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Carpenter Hill compressor station in Charlton indicates no reasonable impact. These transactions
include several single family homes within 0.10 to 0.25 miles. The transaction data on the
properties that are located in close proximity to the Suffield Street compressor station in
Agawam also indicates no measurable impact. These transactions include several sales of
condominium units in a development located on an adjoining site, with units within 0.10 miles of
buildings and the compressor station. The analysis completed for this study does support that if
the compressor station is well sited, designed and operated, then there appears to be limited
impact with no measurable, systematic impact on residential property values, particularly on
properties located more than 0.50 miles from the compressor station. No measurable impact was
found on residential property values on properties located close to these compressor stations
(0.10 to 0.50 miles), but this data is much more limited and, therefore, somewhat less conclusive.
New compressor stations are typically being located on larger tracts of land that provide a buffer
from other properties, and being designed to limit potential adverse impacts of noise, vibration,
lighting and odors, and some include building designs that blend into the local environment such
as looking like a local barn. These designs should assist in limiting potential impacts. The study
found no measurable impact on land use patterns, with land use patterns near compressor stations
being similar to other areas of the town, and residential subdivisions and condominium
developments located near these stations having similar layouts and densities as subdivisions and
developments located greater distances from these stations.

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II. REPORT
PURPOSE
The purpose of this study is to research and analyze market transactions to evaluate the
impact of compressor stations associated with pipelines on residential values in New Hampshire
and Massachusetts. While the primary focus of this report is on the impact of compressor stations
on residential property values, the report also examines the impact on land use patterns, sales
activity and real estate tax revenue. Land use patterns and sales activity were studied around four
existing compressor stations in New Hampshire (Pelham) and Massachusetts (Agawam, Charlton
and Hopkinton).
HYPOTHESIS
The impact of property characteristics on residential property values can be neutral,
positive or negative. Compressor stations are an external property characteristic (externalities) or
an imposed condition that is sometimes referred to as a disamenity or neighborhood nuisance.
Other examples of externalities that might be classified as a neighborhood nuisance for
residential uses include, but are not limited to, airports, prisons, industrial uses, landfills,
incinerators, power plants, windmills contaminated sites, railroads, highways, pipelines and
power lines.
The impact of external property characteristics on property values, assuming there is
sufficient data, is measured through comparative analysis of market transactions. Given the
number of residential properties located near compressor stations and that information on the
sales of these properties is readily available, any impact of these facilities on land use patterns,
sales activity and property values should be readily measurable from market transactions. The
properties that are most impacted should be those properties that are located closest to the
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compressor station. The impact, if any, of compressor stations on residential property values is
considered likely to decrease rapidly with distance, as these stations generally are not visible
from great distances. The emission of noise, odors and vibrations is closely regulated and
monitored and tends to dissipate rapidly with distance, particularly with screening. The study,
therefore, concentrates on properties located within one mile of compressor stations and
compares transactions of these properties with transactions of other similar properties located
greater distances from the station.
METHODOLOGY
This study has been completed from a real estate appraisal perspective. Appraisal theory
states that the contributory value of each property characteristic is represented in the total price
that informed buyers and sellers negotiate for a property in an open and competitive market. The
contribution of individual property characteristics can be isolated and measured though
comparative market analysis.
Appraisers and analysts are not concerned with the actions of potential market
participants that would “never” purchase a property with a particular property characteristic.
Appraisers and analysts are concerned with the actions of those participants that have purchased
or would purchase a property with a particular characteristic. Appraisers and analysts measure
the market value or impact on value of a particular characteristic by comparing market data for
properties with and without the particular characteristic. If the goal is to determine the value of
adding a third bathroom to a two bathroom home, the analyst compares sales of homes that are as
similar as possible in all other property characteristics other than some sales have three
bathrooms and other sales have two bathrooms. In this study, data on transactions involving
properties located in close proximity to a compressor station is analyzed to determine how the
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prices paid for these properties compare to the prices paid for similar properties that are located
farther from a compressor station. Despite the general simplicity of the approach, great care must
be exercised to ensure that the analysis reflects differences considered by market participants,
with a direct relationship between the property characteristic and the price difference, and that
the conclusions are not influenced by unsupported associations, preconceived assumptions and
personal biases.
This study primarily relies on actual market transactions to analyze the impacts of
compressor stations on residential property values. Information on hundreds of real estate
transactions were sifted through to develop this study and a case study was created for four
compressor stations. The data presented in this report is only part of the data considered and
analyzed in this study. No data was found that supports the contention that compressor stations
have a systematic, measurable impact on residential property values or land use. The data not
presented in this report was excluded because it was less informative than the data that is
presented in the report, and because it is not practical to include data and analysis on every
transaction reviewed as part of this study.
Transaction data relative to these compressor stations is more limited with fewer
transactions to compare, particularly for the compressor stations in Hopkinton and Charlton. The
compressor stations in Agawam and Pelham offered the best sales data, given more development
immediately adjacent to these stations. The availability of housing units in a particular town or
neighborhood could also impact the actions of buyers. To show an impact or a lack of impact on
value, the buyer would have to have the opportunity to purchase similar houses at different
distances to the compressor station. Despite the general homogenous characteristics of the sales
utilized in this analysis, differences still exist between the locations, size, shape and topography
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of the lot, design, style, age, condition, amenities and other characteristics of the improvement.
In this instance, given the limited number of sales within close proximity of the station, it is
impossible to find 100% comparable sales.
The market dictates the value of individual components to the value of the whole.
Buyers may be unwilling to pay a higher sale price that includes the extra cost of
adding an amenity. Conversely, the addition of an amenity sometimes adds more
value to a property than its cost. In other cases, there may be no adjustment to value
for the existence or absence of an item.3
The sales for each case study are presented in a table with information on dates of sale,
year built, land area, building area, rooms and assessments. The sales data is analyzed using
primarily paired sales and group analysis. The case study data has also been utilized to analyze
whether there is any measurable impact on sales activity, marketing times, land use patterns and
assessed values.
The study includes a review of literature on the impact of compressor stations on
residential property values as well as the impact of other potential neighborhood nuisances or
disamenities on these property values. Additionally, the study includes interviews with market
participants familiar with the development, marketing and valuation of properties that are
impacted by pipelines and compressor stations.
3
The Appraisal of Real Estate, 14th edition, p. 419 (Chicago, IL: Appraisal Institute 2013)
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TERMINOLOGY
The primary purpose of this study is to measure the impact of a compressor station on
residential property values. For the purposes of this study, the term compressor station is
narrowly defined as a facility associated with an underground pipe used to transport natural gas.
Pipeline is defined as:
An underground pipe used to transport natural gas under pressure.
Compressor station is defined as:
A facility which helps moves gas along a pipeline. Natural gas, while being
transported through a gas pipeline, needs to be constantly pressurized at intervals
of 40 to 100 miles. In addition to compressors, compressors stations often include
equipment to remove and store water vapor, condensate and other remaining
impurities.
Price and value are generally defined differently in appraisal practice, but in this study,
price and value are used interchangeably as it is assumed that the price paid for a property in a
market transaction was reflective of the property’s value as of the date of the transaction.
Price is defined as:
The term price refers to the amount a particular purchaser agrees to pay and a
particular seller agrees to accept under the circumstances surrounding their
transaction. A price, once finalized, refers to a transaction price and implies an
exchange. The exchange can be temporary, as in a lease, or permanent, as in a sale.
But in all cases, price is a fact. Price is the buyer’s expression of the property’s
utility and scarcity combined with the buyer’s desire and purchasing power.4
4
The Appraisal of Real Estate, Fourteenth Edition, (Chicago, IL: Appraisal Institute 2013)
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Value is defined as:
In the marketplace, value is commonly perceived as the anticipation of benefits to

be obtained in the future. Because value changes over time, an appraisal reflects
value at a particular point in time. Because value is an economic concept, the
monetary worth of property, goods, or services to buyers and sellers is an
expression of value.”5
For the purposes of this report, compressor stations are simply considered another
property characteristic, the value of which, either positive or negative, is measured from data
from market transactions.
Property characteristic (attribute) is defined as:
The positive and negative characteristics of real estate that determine its
productivity. Property productivity depends on physical, legal or regulatory and
locational attributes.6
Property characteristics are one of the elements of comparison that explain the variances
in the prices paid for properties.
Elements of comparison is described as follows:
Elements of comparison are the characteristics of properties and transactions that help
explain the variances in the prices paid for real property. The appraiser determines the
elements of comparison for a given appraisal through market research and supports those
conclusions with market evidence. When properly identified, the elements of comparison
describe the factors that are associated with the prices paid for competing properties. The
market data, if analyzed properly, will identify the elements of comparison within the
comparable sales that are market-sensitive.7
5
Ibid.
6
The Dictionary of Real Estate Appraisal, 5th ed. (Chicago: Appraisal Institute, 2010)
7
The Appraisal of Real Estate, Fourteenth Edition, (Chicago, IL: Appraisal Institute 2013), p. 390
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Compressor stations are generally external property characteristics, conditions that are
imposed on a property by location. These conditions usually cannot be controlled by the property
owner. Positive external characteristics such as proximity to beaches or parks are sometimes
referred to as amenities, and negative external characteristics, such as proximity to a landfill,
incinerator and maybe a compressor station, are referred to as disamenities. The Appraisal
Institute’s book, Real Estate Damages: An Analysis of Detrimental Conditions, refers to these
potential negative external property characteristics or influences as “neighborhood nuisances.”

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CASE STUDIES
The following provides a summary of the four case studies developed in this report for
the four existing compressor stations in New Hampshire and Massachusetts.
Compressor Station 270B1, Pelham, NH

This compressor station, constructed in 2009, is located off the northerly side of
Industrial Park Drive in the Pelham Industrial Park just west of Mammoth Road (Route 128).
This is the newest of the four compressor stations studied. The compressor station has some
buffer, consisting of undeveloped land and wetlands and other industrial uses between it and the
nearest residential uses. A limitation of this analysis is that it is impossible to differentiate
between the impact of the compressor station and other industrial uses in the industrial park. The
area is also impacted by a pipeline and a HVTL.
There are a couple of residential neighborhoods that surround the industrial park. No
evidence was uncovered that these properties, primarily those located to the south and east and
closer to other industrial uses within the industrial park, have been impacted by the construction
of this compressor station. The most densely developed residential area consists of three
condominium developments located to the north of the compressor station in the Town of
Windham. Units in these developments are located within about 700 feet or 0.15 miles of
buildings at the compressor station. The study of sales within these condominium developments
and the comparison of these condominium developments to other condominium developments in
other areas of Windham supports no systematic, measurable impact on residential property
values. Interviews with the assessors for Windham and Pelham, as well as other town officials,
indicated that there have been no complaints relative to the compressor station, no property
owners have sought abatements because of it, and the property assessments do not reflect a
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specific adjustment for the presence of the compressor station. Interviews with real estate agents
indicated that neither the pipeline nor compressor station had a measurable impact on marketing
or pricing of these properties. This case study, therefore, no support for a systematic, measurable
impact on land use or residential property values related to the compressor station or the adjacent
industrial uses.
Compressor Station 267, Hopkinton, MA

This compressor station, located at 54 Wilson Road, was originally developed in 1963. It
is located in a mixed use area in the northwest part of town. It is surrounded by a significant
amount of undeveloped land, much of which is associated with Hopkinton State Park and the
former Weston Nursery property that is now an ongoing 750-acre residential development
known as Legacy Farms. The compressor station also abuts other similar uses, including an LNG
facility with three large storage tanks. The LNG facility is owned and operated by a different
entity than the compressor station. The existence of the large LNG facility in combination with
the compressor station, in theory, should increase the potential impact on land uses and property
values. The limitation of this analysis, if an impact is found, is that it is impossible to
differentiate between the impact of the compressor station and the impact of the LNG facility.
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There are few residential uses in very close proximity of these facilities. This is
attributable to the lack of available developable land as most of the land is controlled by a few
owners and much of the vacant land is held as public open space. The owner of the largest
privately held parcel, the Legacy Farms property, is planning to construct new residential units
within close proximity of both the compressor station and the LNG facility, with the northern
access road for this development intersecting with Wilson Road just north of the compressor
station. This proposed development, as well as other recent developments in the area, shows a
willingness to build within close proximity to both a compressor station and an LNG facility. At
this time, given that this section of the development is not complete, there are no sales available
for comparison. The fact that the developer has gone forward with plans, permits and approvals
indicate the developer anticipates that these proposed units will be marketable at prices that make
development financially feasible. No evidence was uncovered that suggests that this
development will not be successful.
An analysis was completed for the few sales that have occurred on Wilson Road. The
limited amount of data is somewhat inconclusive, but generally supports no significant or
measurable impacts on property uses or values, with $500,000 to over $1,000,000 homes located
within 0.5 to 1.0 miles of the compressor station. An analysis was also completed for sales in
several nearby subdivisions. One of the highest value subdivisions in the town, Deer Run, is
located within one mile of the compressor station. The highest valued homes, based on both sale
prices and assessments, are located at the westerly end of Fawn Ridge Road within about 0.5
miles of the compressor station. While the limited amount of data makes it impossible to prove
whether the prices of these homes are at all impacted by the compressor station and LNG
facility, the fact that homes valued at $1,500,000 to $2,000,000 were built within 0.5 to 1.0 miles
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of these facilities, and that the highest value homes are located closest to these facilities indicates
that any impact is limited and there is likely no impact beyond 0.5 miles.
One potential issue with this study is that the LNG facility, which appears larger and
more obtrusive than the compressor station, could have a greater impact on land uses and
residential property values. Given that the LNG facility and compressor station are on adjacent
properties, it is impossible to distinguish the impact of each use independently. Regardless, the
two uses together appear to have no measurable impact on value and use on residential properties
located at least 0.50 miles away, with no usable market data for properties located closer than
0.50 miles.
Compressor Station 264, Charlton, MA

This compressor station is located at 192 Carpenter Road in a rural area of Charlton. It
was constructed in 1969. Land uses in the area are similar to other areas of Charlton and
surrounding towns. The neighborhood is also impacted by other potential disamenities or
neighborhood nuisances, including a power plant, HVTL, an electric substation, a solar farm and
an industrial facility. There is somewhat limited data available for analysis, but the data studied
and analysis completed shows no systematic, measurable impact.
The study includes the analysis of transactions located adjacent or across the street from
the compressor station (214 Carpenter Hill Road, 163 Carpenter Hill Road, 171 Carpenter Hill
Road, 14 Snake Hill Road and 18 Snake Hill Road), as well as one sale located close to the
station (258 Carpenter Hill Road). Most of these sales are located within 500 to 1,250 feet or
0.10 to 0.25 miles of buildings at the compressor station. These sales took place between 2006
and 2014 and have been compared with sales of other similar houses in other areas of town. One
of the houses sold for a price that seems somewhat low relative to other houses, but this could be
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related to other factors such as property condition or conditions of the sale. The sales data for this
transaction is based on assessor records, with no listing or sales data found in MLS. The other
sales, based on both MLS and assessor records, all sold at prices, both on a total price and price
per square foot basis, that were consistent with other similar houses in other areas of town.
Interviews with real estate agents involved in some of these transactions indicated the
compressor station and associated pipelines had no impact on marketing or pricing of these
properties. The analysis, because of the limited data, does not prove there is absolutely no impact
on the pricing of residential properties located in very close proximity, 0.10 to 0.25 miles, of a
compressor station. The analysis does indicate that these properties sell within a typical time
period (days on market or DOM) and for generally similar prices (total sale price and price per
square foot) as similar properties in other areas of town.
Compressor Station 261, Agawam, MA

This compressor station is located in a rural area of Agawam near the Suffield,
Connecticut town line. There is a significant amount of undeveloped land in the area, which is
typical of the land use patterns throughout this area of southwest Agawam and northern Suffield.
There are a few single family residences along Suffield Street and a condominium development,
Longbrook Estates, located just north of the compressor station. A densely developed residential
area is located just to the north of the condominium complex. To the east are parking areas
associated with the Six Flags New England amusement park and to the west across Suffield
Street is the Crestview Country Club (access from Shoemaker Lane). To the south are a mix of
open fields and woodland, as well as several residential subdivisions in Suffield, CT.
Approximately six miles to the south is Bradley International Airport. There are a mix of
commercial, industrial and residential uses along Suffield Street in Agawam. So this
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neighborhood is also impacted to some extent by other potential neighborhood nuisances such as
the Six Flags amusement park, HVTL, pipelines, industrial uses, commercial uses and an
international airport.
An analysis has been completed for residential sales in the Suffield, CT subdivision, sales
along Suffield Street in Agawam, Longbrook Estates, sales in the Longbrook Estates
condominium development adjacent to the north side of the compressor station, and sales in the
subdivision just north of this condominium development. The compressor station predated all of
these developments, indicating that the compressor station has had no measurable impact on land
uses in the area, with these developments undertaken and sold out despite the existence of the
compressor station. While this does not prove that the compressor station has no impact on the
value of individual properties, it does show that land located adjacent and in close proximity to a
compressor station has been successfully developed with similar developments and similar value
properties as other areas of town. The sales in these developments have been compared with
sales in other areas. Some of the highest value homes in the more recent subdivisions in Suffield
are located closest to the compressor station but these properties are all located at least 0.5 miles
away. These properties again suggest that there is no measurable impact beyond 0.5 miles. The
few residential properties that are located along Suffield Street were developed despite the
compressor station and seem to support no measurable impact, but given the uniqueness of each
property, this conclusion is impossible to prove. The Longwood Estates condominium
development located immediately adjacent to the north side of the compressor station provides
the best area for study. The closest units in this development are located about 500 feet or 0.10
miles from buildings at the compressor station. The comparison of sale prices for these units and
similar units in a condominium development (Castle Hills) located two miles to the north shows
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no systematic or measurable impact on land use or residential property values given the
proximity and pricing of units in these developments. Interviews with real estate agents involved
in the listing and sale of units in this development indicated that the compressor station had no
impact on marketing or pricing of these units in Longbrook Estates.

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CONCLUSIONS
A significant amount of market data was considered in this study, reflecting different
economic and market conditions, locations, housing types and prices. The analysis is somewhat
less conclusive than the analysis completed on the impact of pipelines, as there are relatively few
compressor stations compared to the miles of pipeline, there are fewer houses located in very
close proximity to these compressor stations, and the transaction data is less homogenous. No
data was uncovered that suggests that proximity to a compressor station measurably impacts
value or land use. The study shows that compressor stations appear to have no widespread,
systematic impact on value or land use, particularly outside of 0.5 miles from the compressor
station as high end homes have been constructed and sold within about this distance of the
Hopkinton and Agawam of compressor stations. Condominium developments have been
developed in close proximity to the Agawam and Pelham compressor stations. The Agawam
condominium units are located in very close proximity with the closest units about 0.10 miles
from the buildings at the compressor station, and were all constructed after the compressor
station was constructed and operational. These units are also impacted by the pipeline and
HVTL. The units in Pelham were mostly constructed before the compressor station, but a few
units were built after, and all of these units were built on a site that was impacted by an existing
pipeline. Limited recent development has occurred near the Charlton compressor station, but the
few sales of single family houses located within very close proximity of the compressor station,
0.10 to 0.25 miles (houses located on adjacent properties or properties across the street), indicate
no measurable impact.
Research Report
Interviews with appraisers, assessors, developers and real estate sales agents regarding
their experience with residential properties located near compressor stations indicated that the
compressor station had no measurable impact on the development, marketing or pricing of any
property. A survey of assessors in New Hampshire and Massachusetts found that none offered an
automatic reduction in assessed value for pipeline easements and/or compressor stations, and
indicated that no property owners had sought abatements because of a property’s proximity to a
compressor station. No published literature was found that supports that compressor stations
have a measurable impact on value but literature was found that indicates that industrial
properties can impact residential property values. The conclusion of this study is that compressor
stations have no definable and no measurable, systematic impact on residential real estate,
including property values, land use patterns, sales activity, or assessed values that are located
more than 0.5 miles from the compressor station and probably as close as 0.25 miles. The
analysis also indicates that properties closer than 0.25 miles (0.10 to 0.25 miles) are not
measurably impacted, but the data for these properties is much more limited and, therefore,
somewhat less conclusive. It appears that well designed and operated compressor stations located
on larger sites with adequate buffers should have minimal impact on surrounding land uses and
residential property values.

Research Report
III: COMPRESSOR STATION STUDIES
COMPRESSOR STATION 270 B1, PELHAM, NH

This compressor station is located off Industrial Park Drive in the Pelham Industrial Park.
It is surrounded by some undeveloped land and wetlands, with a couple houses along
S. Mammoth Road (Route 128) on the east located about 600 feet from the compressor station.
These uses existed prior to the construction of the plant in 2009. The industrial uses extend for
about 2,000 feet to the south and west. To the north, across Beaver Brook and wetland areas, are
a couple of residential condominium developments in the town of Windham, New Hampshire.
The location, zoning, surrounding uses and wetlands act to create a buffer, likely reducing the
potential impact of this compressor station but also making it difficult or impossible to isolate the
impact, if any, of the compressor station from the other industrial uses in the neighborhood.
Property Specifications
Land Area: 11.6± Acres (11.6± acres fenced)
Year Built: 2009
Compressor Building: 3,161± Sq. Ft.
Control Building: 490± Sq. Ft.
Auxiliary Building: 1,792± Sq. Ft.
In investigating the impact, if any, of this compressor station on residential land uses and
values, I have interviewed public officers, studied current and proposed land uses and completed
an analysis of residential property sales.

Research Report
Interviews
Phone interviews were conducted with the Pelham assessor and building inspector and
the Windham assessor. All three reported that they knew of no complaints filed relative to the
compressor station and both assessors indicated that they do not adjust assessed values for
proximity to the pipeline or compressor station as there is no market evidence of any impact.
Phone interviews were conducted with several real estate agents involved in the sales of
condominium units in the developments located just north of the compressor station. These
interviews found no measurable impact of the pipeline or compressor station on the marketing or
pricing of the properties.
Land Use Patterns

The Pelham compressor station is relatively new and there has been limited residential
development in this area since its construction. This reflects both the availability of land and
market conditions since 2009. The compressor station is located in an industrial park and is
surrounded by other industrial uses. The immediate area is also bisected by the natural gas
pipeline and an HVTL.

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Aerial View – Industrial Park Drive Area, Pelham, NH (1/2 mile, 1 mile, 2 mile radius)
Compressor
Station
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Compressor
Station
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Zoning Map
Subject
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The closest residential units to the Pelham compressor station are the Whispering Winds
condominium units along Pleasant Street, as well as the Windham Meadows condominium units
located along Brookview Road and Misty Meadow Road in Windham, NH. The Tennessee
natural gas pipelines bisect these developments and a detailed analysis of sales in these
developments found no correlation between unit prices and proximity to the pipeline. There also
appears to be no correlation between prices relative to proximity of the compressor station. The
closest condominium units in this development are located about 1,000 feet from the compressor
station and the farthest units are located about 2,000 feet from the compressor station. Several of
the highest priced sales are located closer to the compressor station, including 5 Misty Meadow
Road that sold in January 2015 for $450,000 and 9 Misty Meadow Road that sold in June 2015
for $470,000. The unit at 17 Brookview Road, located somewhat farther from the station, sold in
April 2015 for $455,000. These units are depicted in the following table and plan.
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Windham Meadows Condominium Sales
Compressor Station
Research Report
This development also has attached condominium units that are located on Brookview
Road at the rear of the detached units. There are also attached units in the Whispering Winds
development on Pleasant Street. This development is located between the detached units in the
Windham Meadows development (described above) and the compressor station. The units on
Pleasant Street are 600 to 1,400 feet from the compressor station, with the lower numbered units
closest and the higher numbered units farther from the station. The attached units along
Brookview Road (at the rear of the Windham Meadows development) are similar in style and
design and are 1,500 to 2,000 feet from the compressor station. The lower numbered units are
located farthest from the compressor station and the highest numbered units are located closet to
from the compressor station.
Attached Units - Brookview Road, Windham, NH – Resales Since 1/09

Property Sale Date Sale Price
35 Brookview Road 10/14 $225,000
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Brookview Road, Windham, NH – Resales Since 1/09
Compressor
Station
Research Report
Pleasant Street, Windham, NH – Resales Since 1/09

Property Sale Date Sale Price
5 Pleasant Street 1/14 $189,000
Only sales since 2009 were considered, as the compressor station was constructed in
2008/2009.
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Pleasant Street, Whispering Winds, Windham, NH – Resales Since 1/09
Pleasant Street
Compressor
Station
Research Report
The sales along Brookview Road show no impact on price by proximity to the
compressor station as the two highest priced sales, 84 and 85 Brookview Road, are located closer
to the compressor station and the remaining sales, regardless of price, are evenly dispersed
throughout the development. The prices along Pleasant Street are also evenly dispersed
throughout the development with no correlation to proximity of the units to the compressor
station.
A comparison has also been developed between these condominium units and other
condominium units in Windham. These sales are shown in the following table.
Windham, NH Condominium Sales

Sale Sale Year Bedrooms/ Listing
Property Date Price Built Baths Area (SF) Price PSF Date
12 Nesmith Road 10/15 $324,000 2014 2/2 1,900 $171 7/15
143 Pleasant Street 9/15 $216,000 2001 2/2 1,522 $142 8/15
52 Pleasant Street 9/15 $215,000 2001 2/2 1,522 $141 7/15
58 Gordon Mountain Road 8/15 $403,850 2014 2/2 1,744 $232 6/15
10 Stacey Circle 9/15 $230,000 1987 2/2 1,534 $150 8/15
3 Hadleigh Road 8/15 $300,000 2004 2/2 1,419 $211 6/15
17 Stacey Circle 9/15 $212,795 1987 2/2 1,548 $137 8/15
96 Mountain Village Rd. 8/15 $307,400 2004 2/2 1,458 $211 5/15
38 Hickory Road 8/15 $242,500 1987 2/2 1,508 $161 6/15
36 Hickory Road 8/15 $230,000 1987 2/2 1,448 $159 3/15
71 Stacey Circle 8/15 $220,000 1987 2/2 1,548 $142 6/15
45 Stacey Circle 6/15 $220,000 1987 2/2 1,336 $165 6/15
79 Pleasant Street 7/15 $250,000 2001 2/2 1,522 $164 5/15
5 Stacey Circle 6/15 $184,900 1987 2/2 1,534 $121 1/15
9 Misty Meadow Rd. 6/15 $470,000 2006 2/2 2,042 $230 4/15
91 Pleasant Street 4/15 $280,000 2001 2/2 1,522 $184 1/15
56 Gordon Mountain Rd. 5/15 $392,700 2014 2/2 1,545 $254 4/15
55 Pleasant Street 4/15 $222,500 2001 2/2 1,522 $146 11/14
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Windham, NH Condominium Sales
Gordon Mt. Rd.

Hadleigh Road Mountain Vill. Rd.
Hickory Lane,
Stacey Cir.
Nesmith Road
Misty Meadow Rd.

Pleasant St.
Compressor
Station
Research Report
The highest price sale is at 9 Misty Meadow Road at $470,000. It was built in 2006 and is
located adjacent to the pipeline and around 1,000 feet from the compressor station. The next two
highest priced sales are units at 56 and 58 Gordon Mountain Road, units that were built in 2014.
These two units sold at the highest prices on a per square foot basis, reflecting that these are
newer and slightly smaller units. The next highest sale price on a square foot basis is 9 Misty
Meadow Road, which is located near the compressor station. The Pleasant Street sales are
generally in line with the other units on a total price and per square foot basis, indicating no
measurable difference attributable to the proximity to the compressor station.
The following tables present a sales and resales analysis for units in Whispering Winds
(Pleasant Street) and Windham Meadows (Misty Meadow Road and Brookview Road), which
are closer to the compressor station, and sales and resales for other condominium developments
in Windham. The purpose of this analysis is to determine if the construction of the compressor
station in 2009 has caused prices to change differently at the developments located near the
compressor station as compared with developments located in other areas of town. The difficulty
is that the economy and real estate market changed significantly during this time and any value
decline cannot be definitively attributed to either the economy/market or the construction of the
compressor station.
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Earlier Later Dollar %

Unit Sale Date Sale Price Sale Date Sale Price Difference Change
3 Pleasant Street 3/01 $227,470 1/04 $255,000 $27,530 12.10%
3 Pleasant Street 1/04 $255,000 12/05 $285,000 $30,000 11.76%
5 Pleasant Street 2/01 $276,870 1/14 $189,000 -$87,870 ‐31.74%
9 Pleasant Street 1/01 $192,300 4-0 $200,000 $7,700 4.00%
9 Pleasant Street 4/09 $200,000 011 $206,333 $6,333 3.17%
11 Pleasant Street 3/01 $171,340 9/13 $159,000 -$12,340 ‐7.20%
15 Pleasant Street 1/01 $191,100 4/04 $265,000 $73,900 38.67%
16 Pleasant Street 8/01 $185,270 3/10 $192,000 $6,730 3.63%
18 Pleasant Street 7/01 $166,530 4/10 $187,000 $20,470 12.29%
19 Pleasant Street 4/01 $195,133 7/04 $243,600 $48,467 24.84%
20 Pleasant Street 8/01 $168,000 11/04 $199,000 $31,000 18.45%
21 Pleasant Street 3/01 $182,900 11/05 $250,000 $67,100 36.69%
21 Pleasant Street 11/05 $250,000 7/12 $180,000 -$70,000 ‐28.00%
23 Pleasant Street 3/01 $219,000 4/07 $225,000 $6,000 2.74%
23 Pleasant Street 4/07 $225,000 9/09 $212,533 -$12,467 ‐5.54%
24 Pleasant Street 7/01 $178,000 12/04 $238,000 $60,000 33.71%
29 Pleasant Street 3/01 $180,333 1/10 $190,000 $9,667 5.36%
30 Pleasant Street 3/01 $228,470 8/04 $267,533 $39,063 17.10%
30 Pleasant Street 8/04 $267,533 7/07 $235,000 -$32,533 ‐12.16%
31 Pleasant Street 2/01 $200,940 8/09 $214,933 $13,993 6.96%
33 Pleasant Street 10/01 $229,930 10/03 $186,533 -$43,397 ‐18.87%
35 Pleasant Street 3/02 $210,600 7/03 $240,000 $29,400 13.96%
36 Pleasant Street 5/01 $176,800 11/11 $180,533 $3,733 2.11%
38 Pleasant Street 4/01 $178,933 12/05 $284,000 $105,067 58.72%
39 Pleasant Street 3/04 $274,666 9/14 $205,000 -$69,666 ‐25.36%
40 Pleasant Street 6/01 $201,260 4/06 $287,533 $86,273 42.87%
41 Pleasant Street 2/02 $212,000 7/07 $220,000 $8,000 3.77%
42 Pleasant Street 7/02 $216,000 7/04 $245,000 $29,000 13.43%
42 Pleasant Street 7/04 $245,000 2/07 $239,000 -$6,000 ‐2.45%
42 Pleasant Street 2/07 $239,000 1/13 $207,000 -$32,000 ‐13.39%
45 Pleasant Street 11/01 $205,000 11/05 $251,000 $46,000 22.44%
52 Pleasant Street 8/02 $205,800 8/07 $225,000 $19,200 9.33%
52 Pleasant Street 8/07 $225,000 10/15 $215,000 -$10,000 ‐4.44%
53 Pleasant Street 5/02 $237,060 5/13 $192,000 -$45,060 ‐19.01%
55 Pleasant Street 6/02 $249,130 10/04 $278,933 $29,803 11.96%
55 Pleasant Street 10/04 $278,933 4/15 $225,533 -$53,400 ‐19.14%
58 Pleasant Street 9/02 $256,000 4/11 $212,000 -$44,000 ‐17.19%
60 Pleasant Street 9/02 $196,000 4/05 $257,000 $61,000 31.12%
63 Pleasant Street 6/02 $209,800 11/13 $185,000 -$24,800 ‐11.82%
65 Pleasant Street 6/02 $217,930 8/04 $249,000 $31,070 14.26%
65 Pleasant Street 8/04 $249,000 2/13 $165,000 -$84,000 ‐33.73%
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Earlier Later Dollar %

Unit Sale Date Sale Price Sale Date Sale Price Difference Change
66 Pleasant Street 9/02 $202,730 6/07 $205,000 $2,270 1.12%
68 Pleasant Street 9/02 $208,130 12/02 $259,000 $50,870 24.44%
68 Pleasant Street* 12/02 $259,000 3/07 $211,941 -$47,059 ‐18.17%
68 Pleasant Street 3/07 $211,941 10/07 $190,000 -$21,941 ‐10.35%
69 Pleasant Street 6/02 $206,060 9/13 $180,000 -$26,060 ‐12.65%
70 Pleasant Street 9/02 $205,600 9/08 $210,000 $4,400 2.14%
71 Pleasant Street 7/02 $242,000 1/05 $284,000 $42,000 17.36%
71 Pleasant Street 1/05 $284,000 4/05 $284,000 $0 0.00%
71 Pleasant Street 4/05 $284,000 12/13 $190,000 -$94,000 ‐33.10%
72 Pleasant Street 8/02 $194,930 6/10 $195,000 $70 0.04%
72 Pleasant Street 6/10 $195,000 8/14 $194,933 -$67 ‐0.03%
73 Pleasant Street 6/03 $279,333 10/13 $175,000 -$104,333 ‐37.35%
74 Pleasant Street 9/02 $212,460 12/07 $201,000 -$11,460 ‐5.39%
78 Pleasant Street 3/04 $286,533 9/11 $200,000 -$86,533 ‐30.20%
79 Pleasant Street 4/03 $235,600 7/15 $250,000 $14,400 6.11%
80 Pleasant Street 1/03 $226,400 7/08 $220,000 -$6,400 ‐2.83%
82 Pleasant Street 1/03 $241,933 9/05 $280,000 $38,067 15.73%
83 Pleasant Street 9/05 $280,000 7/13 $185,000 -$95,000 ‐33.93%
83 Pleasant Street* 5/03 $269,533 11/07 $222,000 -$47,533 ‐17.64%
83 Pleasant Street 11/07 $222,000 10/09 $206,533 -$15,467 ‐6.97%
84 Pleasant Street 1/03 $235,600 4/13 $182,533 -$53,067 ‐22.52%
85 Pleasant Street 5/03 $304,000 6/09 $209,000 -$95,000 ‐31.25%
89 Pleasant Street 5/03 $272,666 5/11 $185,000 -$87,666 ‐32.15%
*Potentially a foreclosure sale

Research Report
Attached Units
Earlier Later Dollar
Unit Sale Date Sale Price Sale Date Sale Price Difference % Change
35 Brookview Road 4/05 $241,133 10/14 $225,000 -$16,133 -6.69%
38 Brookview Road 4/05 $288,400 7/09 $198,000 -$90,400 -31.35%
39 Brookview Road 4/05 $247,400 7/10 $214,933 -$32,467 -13.12%
40 Brookview Road 6/05 $280,333 12/12 $212,533 -$67,800 -24.19%
50 Brookview Road 12/04 $309,933 6/11 $224,933 -$85,000 -27.43%
53 Brookview Road 10/04 $237,400 8/09 $200,000 -$37,400 -15.75%
54 Brookview Road 2/05 $293,666 7/11 $179,933 -$113,733 -38.73%
54 Brookview Road 7/11 $179,933 5/13 $212,533 $32,600 18.12%
56 Brookview Road 3/05 $287,266 12/13 $216,000 -$71,266 -24.81%
58 Brookview Road 12/04 $270,600 6/07 $229,934 -$40,666 -15.03%
64 Brookview Road 1/05 $285,933 8/09 $197,533 -$88,400 -30.92%
65 Brookview Road 3/05 $239,200 8/08 $209,000 -$30,200 -12.63%
65 Brookview Road 8/08 $209,000 8/11 $177,000 -$32,000 -15.31%
65 Brookview Road 8/11 $177,000 9/13 $205,933 $28,933 16.35%
66 Brookview Road 12/04 $270,266 7/12 $225,000 -$45,266 -16.75%
68 Brookview Road 8/11 $324,200 8/11 $229,933 -$94,267 -29.08%
72 Brookview Road 9/04 $251,533 8/07 $225,000 -$26,533 -10.55%
72 Brookview Road 8/07 $225,000 3/14 $220,000 -$5,000 -2.22%
74 Brookview Road 8/04 $260,933 9/13 $225,000 -$35,933 -13.77%
75 Brookview Road 3/04 $249,200 7/14 $220,000 -$29,200 -11.72%
77 Brookview Road 11/04 $231,600 5/07 $205,000 -$26,600 -11.49%
81 Brookview Road 6/04 $233,200 12/05 $273,000 $39,800 17.07%
81 Brookview Road 12/05 $273,000 11/09 $189,000 -$84,000 -30.77%
83 Brookview Road 12/05 $252,133 7/07 $220,200 -$31,933 -12.67%
84 Brookview Road 3/04 $300,933 6/14 $254,000 -$46,933 -15.60%
Freestanding Units
10 Misty Meadow Road 10/07 $402,000 8/13 $434,933 $32,933 8.19%
11 Misty Meadow Road 11/09 $369,000 10/12 $368,000 -$1,000 -0.27%
2 Brookview Road 4/09 $425,000 12/11 $415,000 -$10,000 -2.35%
10 Brookview Road 2/07 $493,122 6/10 $410,000 -$83,122 -16.86%
10 Brookview Road 2/07 $493,122 6/14 $425,000 -$68,122 -13.81%
17 Brookview Road 2/08 $511,522 8/10 $419,000 -$92,522 -18.09%
21 Brookview Road 12/09 $451,933 9/13 $425,000 -$26,933 -5.96%
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Unit Sales in Other Condominium Developments

90 Mountain Village Road 8/04 $330,000 7/15 $295,733 -$34,267 -10.38%
96 Mountain Village Road 10/09 $266,533 8/15 $307,400 $40,867 15.33%
14 Stacey Circle 10/04 $240,000 8/14 $190,000 -$50,000 -20.83%

17 Stacey Circle 10/04 $270,000 2/14 $178,000 -$92,000 -34.07%
19 Stacey Circle 4/07 $252,533 10/13 $190,000 -$62,533 -24.76%
33 Stacey Circle 5/01 $190,000 5/14 $170,000 -$20,000 -10.53%
36 Stacey Circle 7/01 $174,930 7/04 $230,000 $55,070 31.48%
36 Stacey Circle 7/04 $230,000 6/05 $255,000 $25,000 10.87%
36 Stacey Circle 6/05 $255,000 6/10 $200,000 -$55,000 -21.57%
41 Stacey Circle 8/01 $172,000 3/10 $183,000 $11,000 6.40%
43 Stacey Circle 6/02 $181,000 7/13 $189,933 $8,933 4.94%
45 Stacey Circle 4/05 $258,000 7/15 $220,000 -$38,000 -14.73%
48 Stacey Circle 6/02 $197,000 7/04 $263,800 $66,800 33.91%
52 Stacey Circle 4/07 $248,800 9/12 $180,000 -$68,800 -27.65%
56 Stacey Circle 11/00 $160,000 2/07 $260,000 $100,000 62.50%
56 Stacey Circle 2/07 $260,000 12/14 $200,000 -$60,000 -23.08%
29 Hickory Lane 6/04 $290,933 6/07 $310,000 $19,067 6.55%

29 Hickory Lane 6/07 $310,000 4/12 $220,000 -$90,000 -29.03%
31 Hickory Lane 11/03 $268,000 7/09 $250,000 -$18,000 -6.72%
33 Hickory Lane 7/09 $249,933 4/12 $225,000 -$24,933 -9.98%
36 Hickory Lane 10/03 $277,000 8/15 $230,000 -$47,000 -16.97%
38 Hickory Lane 6/02 $254,000 8/15 $242,533 -$11,467 -4.51%
48 Hickory Lane 10/01 $245,000 9/02 $265,000 $20,000 8.16%
48 Hickory Lane 9/02 $265,000 7/09 $245,000 -$20,000 -7.55%
8 Hadleigh Road 10/04 $284,400 4/11 $222,533 -$61,867 -21.75%

16 Hadleigh Road 6/04 $256,400 9/13 $257,400 $1,000 0.39%
20 Hadleigh Road 10/04 $289,400 7/09 $247,000 -$42,400 -14.65%
21 Hadleigh Road 5/04 $286,200 7/14 $279,000 -$7,200 -2.52%
26 Hadleigh Road 3/04 $264,400 7/11 $213,000 -$51,400 -19.44%
31 Hadleigh Road 10/03 $254,400 9/13 $275,000 $20,600 8.10%
34 Hadleigh Road 9/04 $247,800 2/13 $203,000 -$44,800 -18.08%
52 Hadleigh Road 12/03 $255,000 5/13 $228,000 -$27,000 -10.59%
Research Report
No clear pattern is discernable from this data. Prices in developments located near the
compressor station (units on Pleasant Street, Brookview Road and Misty Meadow Road) have
fluctuated in similar ranges as prices in developments in other areas of town. Some comparisons
that show similar changes are:

Property Sale Date Sale Date Price Change % Change
5 Pleasant Street 2/01 1/14 -$87,870 -32%
21 Pleasant Street 11/05 7/12 -$70,000 -28%
39 Pleasant Street 3/04 9/14 -$69,666 -25%
65 Pleasant Street 8/04 2/13 -$84,000 -34%
71 Pleasant Street 4/05 12/13 -$94,000 -33%
73 Pleasant Street 6/03 10/13 -$104,333 -37%
78 Pleasant Street 3/04 9/11 -$86,533 -30%
83 Pleasant Street 9/05 7/13 -$95,000 -34%
85 Pleasant Street 5/03 6/09 -$95,000 -31%
89 Pleasant Street 5/03 5/11 -$87,666 -32%
106 Mountain Village Road 8/05 6/1 -$117,000 -34%
17 Stacey Circle 10/04 2/14 -$92,000 -34%
52 Stacey Circle 4/07 9/12 -$68,800 -28%
29 Hickory Lane 6/07 4/12 -$90,000 -29%
These sales and resales show generally the same trends throughout all the developments,
trends that mirror the general market. Prices generally increased through 2004/2005 and then
declined through around 2011 before increasing slowly into 2015. The units on Pleasant Street,
which are the closest units to the compressor station, appear to experience similar declines in
value as the general market and units in other developments in Windham. This tends to indicate
that construction of the compressor station in 2009 did not cause values on Pleasant Street to
decline any more than units in other developments.

Research Report
Rockingham County, NH Residential Sales History

Days
Year Units sold % Change Median Price % Change On Market % Change
1998 4,112 N/A $153,200 N/A 123 N/A
1999 4,228 +2.8 $169,900 +10.9 83 -33
2000 3,896 -7.9 $200,000 +17.7 77 -7
2001 3,662 -6.0 $237,850 +18.9 69 -10
2002 3,797 +3.7 $264,900 +11.4 72 +4
2003 3,551 -6.5 $285,400 +7.7 75 +4
2004 3,889 +9.5 $314,373 +10.2 75 0
2005 3,458 -11.1 $337,500 +7.4 81 +8
2006 2,628 -24.0 $330,000 -2.2 112 +38
2007 2,576 -2.0 $316,000 -4.2 132 +18
2008 2,299 -10.8 $285,000 -9.8 135 +2
2009 2,392 +4.0 $257,950 -9.5 112 -17
2010 2,417 +1.0 $266,900 +3.5 109 -3
2011 2,552 +5.6 $250,000 -6.3 113 +4
2012 3,085 +20.1 $260,000 +4.0 106 -6
2013 3,464 +12.3 $275,000 +5.8 86 -19
2014 3,460 -0.1 $289,900 +5.4 73 -15
Source: Northern New England Real Estate Network/NHAR
Hillsborough County, NH Residential Sales History

Units
Year Sold % Change Median Price % Change DOM % Change
1998 4,340 N/A $131,500 N/A 82 N/A
1999 4,210 -3.0 $141,900 +7.9 70 -15
2000 4,201 -0.2 $165,000 +16.3 60 -14
2001 3,964 -5.6 $192,595 +16.7 50 -17
2002 4,186 +5.6 $228,500 +18.6 56 +12
2003 4,494 +7.4 $245,000 +7.2 60 +7
2004 4,665 +3.8 $270,900 +10.6 62 +3
2005 4,461 -4.4 $290,000 +7.1 68 +10
2006 3,503 -21.5 $285,000 -1.7 91 +34
2007 3,149 -10.1 $278,000 -2.5 106 +16
2008 2,754 -12.5 $248,000 -10.8 111 +5
2009 2,935 +6.6 $230,000 -7.3 90 -19
2010 2,669 -9.1 $233,000 +1.3 92 +2
2011 2,722 +2.0 $214,080 -8.1 95 +3
2012 3,350 +23.0 $213,000 0 95 0
2013 3,612 +7.8 $230,000 +8.0 74 -22
2014 3,656 +1.2 $233,000 +1.3 72 -3
Source: Northern New England Real Estate Network/NHAR
Research Report
The prior tables present changes in sales activity, median prices and days on market for
residential sales in Rockingham and Hillsborough Counties. These tables show that median
prices for all residential properties fell 26.6% in Hillsborough County and 25.9% for
Rockingham county between 2005 and 2011/2012. This analysis of condominium sales shows a
similar to slightly higher decrease which was somewhat typical for the market. An analysis of
sales activity and days on market found no discernible difference between sales of properties
located near the pipeline and compressor station and sales of properties located some distance
from the pipeline and compressor station.
The Pelham compressor station is located in an industrial park, and is reasonably well
buffered from the surrounding residential uses. The compressor station appears to have had no
measurable impact on the sales or pricing of the adjacent condominium units.

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COMPRESSOR STATION 267, HOPKINTON, MA

The compressor station is located at 54 Wilson Road in Hopkinton, Massachusetts. It is
surrounded by sparsely developed land, including a significant amount of open space. The
nearest residential structures are located about 2,000 feet or 0.40 miles from the main building at
the compressor station. A new phase of an ongoing residential development known as Legacy
Farms is proposed for construction on a large tract of the vacant land that abuts the western side
(rear) and northern side of the compressor station. The compressor station is located adjacent to
other facilities and across the street from an LNG facility with three large storage tanks. The
LNG facility is owned and operated by a different owner than the compressor station. The LNG
facility makes it impossible to extract a specific impact for just the compressor station, and that
any measurable impact may be more severe or solely related to the LNG facility.
Property Specifications
Year Built: 1963-1980
Compressor Building A: 2,060± Sq. Ft.

Compressor Building B: 3,350± Sq. Ft.
Station Warehouse: 2,000± Sq. Ft.
Water Heater Building: 100± Sq. Ft.
Compressor Station House: 3,400± Sq. Ft.
Control Building: 1,550± Sq. Ft.
Equipment Garage: 975± Sq. Ft.
Auxiliary Building: 155± Sq. Ft.
values, I have interviewed public officials, studied current and proposed land uses and completed

Research Report
Interviews
Phone interviews were conducted with the Town of Hopkinton assessor, building
inspector and police department. All three indicated that no complaints have been filed relative
to the compressor station with their departments. The assessor indicated that they have not
received any abatement applications citing the compressor station as a negative impact on value
and that they do not apply any automatic reduction to the assessed value for a property’s
proximity to the pipeline or the compressor station.
Land Use Patterns

The compressor station is located in a rural area of town that has seen somewhat limited
residential development. Development has been limited because a significant amount of land is
public open space associated with Hopkinton State Park, as well as privately owned land
controlled by large land owners. Much of the undeveloped land has limited street frontage as
well as topographical issues. There are other areas in Hopkinton and surrounding towns with
similar large areas of undeveloped land.
One of the largest parcels is part of the ongoing Legacy Farms development, a 750±-acre
development with some 500± acres of open space. This property was formerly owned and used
by Weston Nurseries for a large commercial nursery operation. The original phases of the
Legacy Farms development are located on the south side of Route 135. Future phases involve the
land north of Route 135 and will include a connector road between Routes 185 and 85 that runs
near the east and north sides of the compressor station. At this time, given that this section of the
development is not complete, there are no sales available for comparison. The fact that the
developer has gone forward with plans, permits and approvals indicates that the developer
anticipates that these proposed units will be marketable at prices that make development
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financially feasible. No evidence was uncovered to suggest that this development will not be
successful. This development is shown on a following page.

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Aerial Views – Hopkinton, MA (1/2 mile, 1 mile, 2 mile radius)
Compressor
Station
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Compressor
Station
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Legacy Farms Development, Hopkinton, MA
Compressor
Station
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Hopkinton Zoning Map
Subject
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Open Space Map (Hopkinton)
Compressor
Station
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Hopkinton Assessors Plan
Compressor
Station
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VIEW ALONG WILSON STREET
VIEW OF THE PROPERTY

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The limited number of residential properties within close proximity of the compressor
station severely limits the number of property sales available for analysis.
One sale considered in this analysis is the June 2014 sale of the 3-bedroom single family
residence at 12 Wilson Street. It is located about 1.0 mile from the compressor station. This sale,
along with six other 3-bedroom residences in the area, are shown on the following table. The
property at 12 Wilson Street appears to have sold at a similar price to these other properties
located farther from the compressor station.

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3-Bedroom Homes, Hopkinton, MA

Distance to Rooms/
Compressor Year Land Area Bedrooms/ Living
Sale # Address Station (Miles) Sale Date Sale Price Built (Acres) Baths Area (SF) Price PSF
1 12 Wilson Street 1.00 6/14 $500,000 1985 1.30 7/3/2 2,387(1 $209(1)
1,701(2) $294(2)
2 57 Granite Street 3.50 4/14 $464,900 1974 1.05 8/3/3 1,881 $247
3 2 Erins Way 2.50 6/14 $455,500 1993 2.85 7/3/1.5 1,600 $285
4 11 East Street 3.00 8/14 $483,000 1985 2.25 7/3/2 2,026 $238
5 13 Valentine Road 2.75 8/14 $535,000 1983 1.21 9/3/2.5 2,271(1) $236
6 130 Wood Street 2.25 10/14 $603,000 2014 1.04 8/3/2.5 2,478 $243
7 12 Briarcliff Drive 3.00 10/14 $465,000 1972 0.70 7/3/1.5 1,588 $293
(1)
Includes finished basement
(2)
Excludes finished lower level
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3-Bedroom Homes, Hopkinton (1 mile, 2 mile, 3 mile radius)
Compressor
Station
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Other sales considered in this analysis are the sales of 2 Whitman Lane and 50 Cedar
Street Extension which are 4-bedroom single family residences located within 1.0 to 1.5 miles of
the compressor station. The following table presents data on these sales, as well as 21 other
4-bedroom residences in Hopkinton that sold around the same time. Again, these houses at
2 Whitman Lane and 50 Cedar Street Extension appear to sell at similar prices to houses farther
from the compressor station.

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4-Bedroom Homes, Hopkinton, MA

Distance to Rooms/
Compressor Sale Year Land Area Bedrooms/ Living Price
Sale # Address Station (Miles) Date Sale Price Built (Acres) Baths Area (SF) PSF
1 2 Whitman Lane 1.00 7/14 $970,000 1998 0.97 12/4/3.5 4,424(1) $219
2 50 Cedar Street Ext. 1.50 7/14 $660,000 1991 2.36 11/4/2.5 3,900(1) $169
3 20 W. Elm Street 3.00 5/14 $686,000 1990 1.13 9/4/3.5 4,308(2) $159
4 21 Appaloosa Cir. 2.00 6/14 $745,000 2004 0.80 11/4/3.5 4,500(1) $166
5 11 Jackson Street 3.00 9/14 $855,000 1998 1.05 9/4/3.5 5,107(1) $167
6 37 Saddle Hill Road 2.00 6/14 $674,000 2001 1.39 9/4/2.5 3,581 $188
7 1 Chadwick Way 3.00 8/14 $949,000 1999 1.41 9/4/2.5 4,842 $196
8 2 Equestrian Drive 2.00 11/14 $929,900 2014 1.71 9/4/4 3,767 $247
9 4 Ralph Road 3.50 8/14 $757,500 1996 1.93 10/4/2.5 4,053 $187
10 19 Pendulum Pass 3.00 7/14 $757,000 1994 1.39 12/4/3.5 3,939 $192
11 8 Kimball Road 3.00 8/14 $775,000 1991 0.70 8/4/3.5 4,272(1) $181
12 9 Glen Road 3.50 8/14 $724,900 1999 0.58 10/4/3.5 3,706(2) $196
13 5 Bowker Road 3.00 8/14 $975,000 2003 1.03 15/4/3.5 5,095(1) $191
14 110 Saddle Hill Road 2.00 8/14 $744,000 2000 2.69 10/4/3.5 4,007(2) $186
15 13 Saddle Hill Road 2.00 12/14 $635,000 1986 1.40 10/4/2.5 3,800(2) $167
16 34 Pond Street 3.00 10/14 $710,000 1994 1.38 11/4/3 3,807(1) $186
17 13 Dicarlo Road 4.00 9/14 $671,300 1986 0.93 10/4/2.5 3,670(3) $183
18 16 Stoney Brook 2.00 11/14 $781,500 1993 1.14 11/4/3.5 4,372(2) $179
19 16 Jamie Lane 4.00 8/14 $750,750 1994 0.92 10/4/3.5 4,300(1) $175
20 117 Saddle Hill Road 2.00 11/14 $702,000 1995 1.41 9/4/2.5 4,216(1) $167
21 12 Ledgestone Dr. 3.00 8/14 $760,000 1990 1.54 11/4/2.5 3,698(2) $206
22 18 Ridge Road 2.00 10/14 $708,500 2011 2.96 10/4/2.5 3,700 $191
23 26 Kimball Road 3.00 8/14 $799,900 1995 2.11 11/4/2.5 3,617(1) $221
(1)
Includes 800-1,400 SF in finished basement
(2)
Includes finished basement (unspecified)
(3)
Excludes finished basement
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4-Bedroom Homes, Hopkinton (1 mile, 2 miles, 3 miles radius)
Compressor
Station
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The following table presents all the sales along Wilson Street over the last 15 years. The
data, consisting of seven sales over the 15 years, is limited and too varied for good comparisons.
A total of three properties sold in 2012 for $570,000 to $840,000. The lowest priced sale and the
smallest house is located at 38 Wilson Street, closest to the compressor station. On a square foot
basis, it sold for the second highest at $218.22 and close to the highest priced sale at $224.30 per
square foot, and much higher than the lowest priced sale at $162.73 per square foot. The other
two sales are both larger houses located nearly twice as far from the station. There were two
sales in 2001 at very similar prices but both properties are located a similar distance from the
compressor station.
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Sales Along Wilson Street, Hopkinton

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The following tables present data on several subdivisions in Hopkinton. The highest
priced subdivision is located closest to the compressor station. The two properties with the
highest prices and highest assessments are located at the western end of Fawn Ridge Road
closest to the compressor station. The distance between the compressor station and the house is
about 0.67 miles or 3,500 feet. This data, without consideration of other factors, would indicate
that proximity to the compressor station was desirable and these houses sold for higher prices.
This, of course, is not the case, but it does indicate that the proximity of the compressor station
was not a significant issue.

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Deer Run/Fawn Ridge Road, Hopkinton (0.67 to 1 Mile East of Compressor Station and LNG Tanks)
Assessed Assessed
Lot Size Living Living Area Full Half Year Building Assessed Total Living
Address Map/Lot Sale Date Sale Price (SF) Area (SF) Price PSF Bedrooms Bath(s) Bath(s) Built Value Land Value Assessed Value Area PSF Book/ Page Plan
18 Fawn Ridge Road R9-17-2 Aug-01 $1,150,000 50,093 4,566 $251.86 5 3 1 2001 $806,900 $273,800 $1,080,700 $236.68 33459/531 1325 of 2000
20 Fawn Ridge Road R9-17-3 May-03 $2,200,000 97,848 5,168 $425.70 4 5 3 2002 $1,321,700 $284,800 $1,606,500 $310.86 39836/63 1325 of 2000
15 Fawn Ridge Road R9-17-5 Jun-03 $1,330,000 51,412 4,602 $289.00 5 4 2 2003 $887,200 $274,100 $1,161,300 $252.35 39421/176 1325 of 2000
13 Fawn Ridge Road R9-17-6 Jul-02 $1,123,450 50,095 3,985 $281.92 5 3 2 2002 $752,800 $273,800 $1,026,600 $257.62 35916/153 1325 of 2000
13 Fawn Ridge Road R9-17-6 Jul-06 $1,362,500 50,095 3,985 $341.91 5 3 2 2002 $752,800 $273,800 $1,026,600 $257.62 49141/33 1325 of 2000
13 Fawn Ridge Road R9-17-6 May-07 $1,150,000 50,095 3,985 $288.58 5 3 2 2002 $752,800 $273,800 $1,026,600 $257.62 49791/161 1325 of 2000
17 Fawn Ridge Road R9-17-4 Jul-02 $1,520,000 50,095 5,857 $259.52 5 3 2 2002 $1,473,600 $283,600 $1,757,200 $300.02 35952/233 1325 of 2000
17 Fawn Ridge Road R9-17-6 Sep-08 $1,800,000 50,095 5,857 $307.32 5 3 2 2002 $1,473,600 $283,600 $1,757,200 $300.02 51758/425 1325 of 2000
16 Fawn Ridge Road R9-17-1 Dec-01 $1,060,000 50,316 4,156 $255.05 5 3 2 2001 $616,100 $273,900 $890,000 $214.15 34325/247 1325 of 2000
16 Fawn Ridge Road R9-17-1 Sep-04 $1,282,500 50,316 4,156 $308.59 5 3 2 2001 $616,100 $273,900 $890,000 $214.15 43886/568 1325 of 2000
16 Fawn Ridge Road R9-17-1 Jul-14 $1,145,000 50,316 4,156 $275.51 5 3 2 2001 $616,100 $273,900 $890,000 $214.15 63917/591 1325 of 2000
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Aerial
Fawn Ridge
Compressor Brook Hollow

Station
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The other subdivisions are more typical, with similarly priced homes in all three
subdivisions and no pattern that houses closer to the compressor station sell at lower prices than
houses farther from the station.
Brook Hollow Lane is located near Fawn Ridge Road, about one mile from the
compressor station. 2 Brook Hollow Lane sold in August 2001 for $663,500 and 7 Brook Hollow
Lane sold in August 2001 for the same price. The houses were built at the same time and are
similar in size. 2 Brook Hollow Lane is located about 0.25 miles closer to the compressor station
than 7 Brook Hollow Lane, but the prices were the same.
The properties on Greenwood Road are located 1.5 to 2.0 miles on the opposite side of
the compressor station on Brook Hollow Lane. The house at 14 Greenwood Road sold in
September 2001, around the time of the 2 and 7 Brook Hollow Lane sales, for $585,248. It is a
larger house and despite being farther from the compressor station, sold for a lower price and
lower price per square foot than the Brook Hollow Lane sales. This would indicate that
properties closer to the compressor station are more desirable and sell for higher prices, but the
difference appears to be related to an inferior location or neighborhood.

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Brook Hollow Lane, Hopkinton – 1 Mile East of Compressor Station and LNG Tanks - Pipeline is Just South of Subdivision
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Brook Hollow
Compressor
Station
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Daniel Shays Road/Emerald Hills West, Hopkinton – Nearly 2 Miles West of Compressor Station and LNG Tanks
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Aerial
Emerald Hills
West
Compressor
Station
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Emerald Hills East, Hopkinton (a/k/a Huckins Farm) – 1.5 to 2.0 Miles West from Compressor Station and LNG Tanks
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Aerial
Emerald Hills
East
Compressor
Station
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The adjacent LNG facility complicates the Hopkinton analysis as there is no way to
differentiate between the compressor station and the LNG facility. Regardless, the Hopkinton
data shows no correlation between the compressor station and LNG facility and residential
property values located over 0.5 miles from the compressor station. The lack of properties in
very close proximity (less than 0.5 miles) to the compressor station limits the ability to measure
any impact on properties within 0.5 miles.

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COMPRESSOR STATION 264, CHARLTON, MA

This compressor station is located at 196 Carpenter Hill Road, a rural area of Charlton.
Carpenter Hill Road runs between Sturbridge Road (Route 20) on the north to Southbridge Road
(Route 169) on the south. Both Southbridge Road and Sturbridge Road are developed with a mix
of residential, commercial and industrial uses. Carpenter Hill Road is also developed with a
variety of uses, although the primary uses are farmland and residential. Towards the northern end
is a large solar facility, about a mile north of the compressor station is a large
office/manufacturing facility occupied by Karl Storz, a manufacturer of endoscopy equipment,
and about 0.5 miles north of the compressor station are high voltage transmission lines and a
substation (Carpenter Hill #435). Uses within 0.5 miles of the compressor station include several
single family residences, old farms, farm land and woodland, and a small multifamily property
(Hi-View Apartments). Along Southbridge Road, within 0.5 to one mile of the compressor
station are several commercial and industrial uses, including the Millennium power plant. These
uses make it impossible to isolate any impact of the compressor station.

Compressor Building A: 2,100± Sq. Ft.

Compressor Building B: 4,250± Sq. Ft.
Compressor Building C: 5,586± Sq. Ft.
Valve Shed: 5,125± Sq. Ft.
Control Building: 588± Sq. Ft.
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Aerial – Charlton (1 mile, 2 mile, 3 mile radius)
1 Solar Farm
2 Karl Storz
3 Substation
4 Compressor
1
Station
5 Millennium
Power Plant
2 6 Southbridge
3
Municipal
Airport
4
Compressor
Station
6
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values, I have interviewed public officials, studied current and proposed land uses and completed
Interviews
Phone interviews were conducted with the Town of Charlton assessor, building inspector
and police department. All three indicated that no complaints had been filed relative to the
compressor station with their departments. The assessor indicated that they have not received any
abatement applications citing the compressor station as a negative impact on value and that they
do not provide an automatic reduction in value for a property’s proximity to the pipeline or the
compressor station. Phone interviews were completed with several real estate agents involved in
the sales of houses in close proximity to the compressor station. These agents indicated that the
compressor station had no impact on the marketing or pricing of the property.
Land Use Patterns

The land use patterns around this compressor station are essentially identical to other
areas of the town.

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Aerial Views – Charlton (1/2 mile, 1 mile, 2 mile radius)
2 1 Solar Farm
3 2 Karl Storz
3 Substation
4 Compressor
4 Station
Compressor
Station
5 Millennium
Power Plant
6 Southbridge
Municipal
5 Airport
6
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Compressor
Station
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4 2
Compressor 3
Station
1 Solar Farm 4 Compressor Station

2 Karl Storz 5 Millennium Power Plant
3 Substation 6 Southbridge Municipal Airport
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4
Compressor 3
Station
1 Solar Farm 4 Compressor Station

2 Karl Storz 5 Millennium Power Plant
3 Substation 6 Southbridge Municipal Airport
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Charlton Assessors Map

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VIEW ALONG CARPENTER HILL ROAD
VIEW ALONG CARPENTER HILL ROAD

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VIEW OF THE FACILITY

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An analysis has been completed for the sales of properties along Carpenter Hill Road
closest to the compressor station. These properties, located within 500 to 2,500 feet or 0.10 to
0.50 miles of buildings at the compressor station, have been compared with the most similar
sales in other areas. With the exception of 163 Carpenter Hill Road, the properties located
adjacent to or across the street from the compressor station have sold for similar prices to similar
homes in other areas of town. This indicates that the compressor station has no measurable
impact on value.
The study includes an analysis of the sales of several properties located adjacent to the
compressor station. A ranch style house at 214 Carpenter Hill Road sold in May 2014 for
$274,500 or $104.69 per square foot. It was on the market for 146 days. Seven other 2014 sales
are presented that sold for $249,500 to $260,000 and $104.42 to $137.25 per square foot.
214 Carpenter Hill Road is one of the oldest and largest houses, thus the lower price per square
foot. A split style house at 163 Carpenter Hill Road sold in December 2012 for $153,250 or
$99.77 per square foot. This was according to the assessors records. This sale was not listed in
MLS and I was unable to interview anyone involved with the sale. It sold for what appears to be
a somewhat low price. This could be related to the compressor station or other factors such as
condition or it could be a distressed sale. Ranch style houses at 171 Carpenter Hill Road and
258 Carpenter Hill Road sold for very similar prices as other similar properties in other areas of
town. The split style house at 14 Snake Hill Road sold in April 2012 at a similar price as other
similar houses in other as of town. It sold after 35 days on market. The split style house at
18 Snake Hill Road sold within 90 days on market in August 2013 for a similar price to other
similar properties in other areas of town. Interviews with real estate agents involved in these
sales indicated the compressor station had no impact on marketing or pricing of these properties.
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Rooms/
Sale Land Area Year Building Bedrooms/ Sale Price Days on
Property House Style Date (Acres) Built Area (SF) Baths Sale Price PSF Market
214 Carpenter Hill Road Ranch 5/14 8.41 1971 2,622 8/2/1.5 $274,500 $104.69 146
412 Stafford Street Cape 10/14 0.59 1976 2,004 7/3/2 $249,500 $127.25 37
29 Gale Road Cape 12/14 1.20 1987 1,885 8/4/2 $250,000 $132.63 72
149 Berry Corner Road Ranch 8/14 2.00 1994 1,887 6/4/3 $259,000 $137.25 62
9 T Hall Road Cape 10/14 1.00 1987 2,167 8/4/1.5 $250,000 $115.37 294
51 King Road Ranch 6/14 2.92 1980 1,854 9/3/2 $250,000 $134.84 101
103 Smith Road Cape 1/14 0.93 1977 2,490 7/3/2 $260,000 $104.42 217
98 Southbridge Road Ranch 1/14 3.00 1965 2,370 12/5/2.5 $260,000 $109.70 121
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Rooms/
163 Carpenter Hill Road Split 12/12 2.07 1977 1,536 6/2/2 $153,250 $99.77 N/A(1)
17 S. Sullivan Road Ranch 9/12 0.64 1972 1,248 4/2/1 $165,000 $132.21 71
72 King Street Contemporary 4/13 1.59 1999 1,072 6/2/1 $177,500 $165.58 222
26 Daniels Road Ranch 8/13 1.59 1992 1,512 4/2/1 $192,500 $127.31 43
52 Old Spencer Road Split 9/13 1.39 1995 1,304 4/2/1 $202,500 $155.29 36
41 King Street Ranch 9/12 1.38 2001 123 5/2/1 $207,000 $155.29 172
(1)
Not in MLS – based on assessors records
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Rooms/
171 Carpenter Hill Road Ranch 10/06 1.88 1988 1,560 4/2/1 $251,600 $161.28 N/A
258 Carpenter Hill Road Ranch 5/06 1.81 1986 1,900(1) 6/3/2 $349,900 $184.16 79
25 Curtis Road Cape 10/06 1.05 1972 1,688 7/3/2.0 $314,900 $186.35 184
46 Ramshorn Road Cape 6/06 0.92 1987 1960 6/3/2 $315,000 $160.71 125
103 Smith Road Cape 10/06 0.92 1977 1,870 8/3/2 $345,000 $184.49 341
20 Nugget Drive Split 3/06 1.31 1972 2,150 7/3/2 $300,000 $139.53 113
28 Bond Road Colonial 11/06 0.95 1997 2,040 6/3/2.5 $319,000 $156.37 65
189 Center Depot Road Colonial 8/06 0.93 1999 2,000 6/3/2.5 $337,500 $168.75 92
19 Prince Road Cape 8/06 1.96 1979 2,054 7/3/2 $335,000 $163.10 36
10 Timber Heights Road Colonial 10/06 1.10 2006 2,080 8/3/2.5 $369,900 $177.84 209
2 Baker Pond Road Colonial 6/06 0.93 2006 2,230 7/3/2.5 $386,400 $173.27 188
33 Stoneybrook Road Colonial 10/06 0.93 1993 2,426 7/3/2.5 $380,000 $156.64 59
51 Baker Pond Road Colonial 6/06 1.37 2005 2,376 8/3/2.5 $376,500 $158.46 153
8 Larnerd Hill Road Cape 7/06 1.37 1998 2,045 6/3/2.5 $375,000 $183.37 80
167 Freeman Road Colonial 9/06 1.75 2006 2,509 7/3/2.5 $385,000 $153.45 180
19 City Depot Road Ranch 6/07 1.00 1953 1,056 5/2/1 $199,900 $175.19 115
230 Southbridge Road Ranch 12/06 1.50 1940 1,227 5/2/1 $198,000 $161.37 237
230 Southbridge Road Ranch 5/07 1.50 1940 1,227 5/2/1 $200,000 $163.00 8
80 Hiland Road Raised Ranch 8/06 0.19 2006 1,104 4/2/2 $244,000 $221.01 183
(1)
Excludes finished basement
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Rooms/
14 Snake Hill Road Split 4/12 3.2 1987 1,290 6/3/2 $194,000 $150.39 36
23 Carpenter Hill Road Contemporary 11/12 1.5 1953 1,583 7/3/1 $159,000 $100.44 35
36 Ten Schoolhouse Rd. Split 12/12 0.92 1982 1,084 6/3/1.5 $160,000 $147.60 108
82 Oxford Road Ranch 12/12 0.23 1956 1,144 5/3/1 $160,000 $139.86 90
239 Dresser Hill Road Ranch 10/12 2.00 1955 1,482 5/3/1 $170,000 $114.71 21
39 Ten Schoolhouse Rd. Contemporary 10/12 1.98 1970 1,410 6/3/2 $190,000 $134.75 25
60 H Putnam Road Cape 9/12 1.21 1979 1,512 6/3/1 $190,000 $125.66 133
90 Partridge Hill Road Ranch 8/12 1.35 2007 1,344 6/3/2 $199,000 $148.74 270
6 Ponnakin Hill Road Split 5/12 1.01 1986 1,864 7/3/2 $205,000 $109.98 76
69 Prince Road Ranch 8/12 11.01 1995 1,926 7/3/2 $210,000 $109.03 143
3 Merriam Road Split 2/12 0.92 1992 1,500 7/3/2 $230,000 $153.33 73
24 Partridge Hill Road Contemporary 8/12 3.64 1985 1,894 6/3/2 $230,000 $121.44 92
6 Flint Road Split 8/12 1.76 1982 1,710 7/3/2 $246,250 $144.01 106
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Rooms/
18 Snake Hill Road Split 8/13 1.28 1988 2,036(1) 5/3/2 $228,000 $111.98(1) 90
109 Richardson Corner Rd. Split 1/13 1.34 1986 1,248 5/3/2 $178,000 $142.63 23
38 Gale Road Ranch 7/13 0.92 1992 1,670 6/3/1.5 $212,000 $126.95 26
52 A F Putnam Road Multi-level 4/13 4.18 1975 1,642 6/3/2 $217,000 $132.94 372
6 Flint Road Split 10/13 1.08 2012 1,232 5/3/2 $231,000 $187.50 249
43 Colburn Road Ranch 8/13 0.99 1985 1,400 6/3/2 $224,900 $160.64 2
95 Partridge Hill Road Split 5/13 1.03 19073 1,414 6/3/2 $245,000 $173.27 257
61 Old Worcester Road Split 3/13 1.02 1987 1.628 7/3/1.5 $237,500 $145.88 83
20 Ponnakin Hill Road Cape 9/13 0.93 1995 1,944 6/3/1.5 $250,000 $128.60 85
(1)
Assessors indicate 1,595 sq. ft. which adjusts price per sq. ft. to $142.95
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18 Snake Hill
14 Snake Hill
167 Carpenter Hill
Compressor 171 Carpenter Hill

Station
214 Carpenter Hill
258 Carpenter Hill

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The data from Charlton, while somewhat limited and not conclusive, generally indicates
that the compressor station likely has no measurable impact on property values and no impact on
marketing times.
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COMPRESSOR STATION 261, 1615 SUFFIELD STREET, AGAWAM, MA

This compressor station is located at 1615 Suffield Street (Route 75) in a rural area of
southern Agawam essentially adjacent to the Suffield, Connecticut town line.

Compressor Building A: 1,900± Sq. Ft. (1995)

Compressor Building B: 725± Sq. Ft. (1965)
Compressor Building C: 1,260± Sq. Ft. (1976)
Compressor Building C: 3,150± Sq. Ft. (1991)
Control Building: 1,825± Sq. Ft. (1999)
Equipment Garage: 2,500± Sq. Ft. (1991)
Pipeline Warehouse: 4,150± Sq. Ft. (1991)
Office Building: 2,050± Sq. Ft. (1992)
District Office Building: 3,100± Sq. Ft. (1992)
values, I have interviewed public officers, studied current and proposed land uses and completed

Research Report
Interviews
Phone interviews were conducted with the Town of Agawam assessor, building inspector
and police department. All three indicated that no complaints had been filed relative to the
compressor station with their departments. The assessor indicated that they have not received any
abatement applications citing the compressor station as a negative impact on value and that they
do not provide an automatic reduction in assessed value for a property’s proximity to the pipeline
or the compressor station. Phone interviews were conducted with several real estate agents
involved in the sales of condominium units located in the Longbrook Estates development
immediately to the north of the compressor station. These interviews indicated that the
compressor station had no impact on marketing or pricing of the properties.
Land Use Patterns

The compressor station is located in a rural area of town that has seen somewhat limited
residential development. Development has been limited because a significant amount of land is
public open space and the privately owned land is controlled by large land owners. This is
similar to other areas of Agawam and surrounding towns.
One of the largest uses in the area is Six Flags New England theme park. The rides are
located some distance, but the open parking areas take up much of the land immediately east of
the compressor station. There is also a golf club on the opposite side of Suffield Street and
considerable farm land to the south in Suffield, Connecticut. The station is located essentially on
the state line.

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Aerial Views – Agawam, MA (1/2 mile, 1 mile, 2 mile radius)
Compressor
Station
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Compressor
Station
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VIEW ALONG SUFFIELD STREET

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VIEW TOWARDS LONGBROOK ESTATES

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The closest residential properties to the subject include the Longbrook Estates
condominiums just to the north of the subject in Agawam. Beyond this is a single family
residential neighborhood. There are a few single family residences located along Suffield Street
in Agawam. The compressor station is located adjacent to the Connecticut line and numerous
residential subdivisions have been developed in this area of Suffield, Connecticut over the last
ten years.
The following table presents sales from Castle Hills, a condominium development
located about two miles north of the compressor station and sales from Longbrook Estates, a
condominium development located immediately to the north of the compressor station.
Longbrook Estates includes units on Dogwood Lane, Brookfield Lane and Ash Lane.
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Agawam Condominium Sales

Rooms/
Date Unit Size Bedrooms/ Garage Year Sale Price
Property of Sale Sale Price (SF) Baths Spaces Built PSF
17B Castle Hill Road 10/13 $215,000 1,208 4/2/2 1 1995 $177.98
21A Castle Hill Road 10/13 $236,000 1,800 5/2/2 1 1986 $131.11
4D Castle Hill Road 11/13 $177,500 1,669 6/2/2.5 0 1973 $106.35
28G Castle Hill Road 11/13 $243,200 1,800 7/3/2.5 1 1998 $135.11
28F Castle Hill Road 4/14 $213,900 1,208 6/2/2 1 1998 $177.07
1B Castle Hill Road 6/14 $176,900 1,438 5/2/1.5 0 1986 $123.02
17H Castle Hill Road 6/14 $205,000 1,208 4/2/2 1 1993 $169.70
7A Castle Hill Road 8/14 $217,777 1,785 6/2/2 1 1986 $122.00
20D Castle Hill Road 9/14 $202,000 1,659 6/2/2.5 1 1986 $121.76
21G Castle Hill Road 9/14 $239,200 1,659 6/2/2.5 1 1986 $144.18
25H Castle Hill Road 9/14 $226,901 1,208 5/2/2 2 1996 $187.83
28E Castle Hill Road 9/14 $225,000 1,800 6/2/2 1 1998 $125.00
29C Castle Hill Road 12/14 $231,000 1,700 5/2/3 1 1999 $135.88
4C Castle Hill Road 3/15 $182,000 1,659 7/2/1.5 0 1986 $109.70
25B Castle Hill Road 3/15 $225,000 1,208 6/3/3 1 1996 $186.26
1A Castle Hill Road 8/15 $214,000 1,428 5/2/1.5 0 1986 $149.86
43 Dogwood Lane 12/13 $195,000 1,314 5/2/2.5 1 1987 $148.40

164 Brookfield Lane 2/14 $195,000 1,418 5/3/2 1 2005 $137.52
28 Ash Lane 2/14 $160,000 1,288* 5/2/2.5 1 1987 $124.22
62 Dogwood Lane 4/14 $170,000 1,288 5/2/2.5 1 1987 $131.99
3 Ash Lane 5/14 $170,000 1,236 5/2/2.5 1 1987 $137.54
32 Ash Lane 8/14 $192,500 1,229 5/2/3.5 1 1987 $156.63
4B Brookfield Lane 1/15 $170,000 1,659 6/2/2.5 0 1986 $102.47
206 Brookfield Lane 2/15 $184,000 1,314 5/2/2.5 1 1992 $140.03
51 Dogwood Lane 4/15 $142,000 1,131 4/2/2 0 1987 $125.55
116 Brookfield Lane 4/15 $125,000 848 4/2/1 1 1993 $147.41
12 Ash Lane 5/15 $174,000 1,288 5/2/2.5 1 1987 $135.09
13E Brookfield Lane 5/15 $197,000 1,659 6/2/2.5 1 1986 $118.75
95 Dogwood Lane 6/15 $168,000 1,229 7/2/2.5 1 1987 $136.70
69 Dogwood Lane 6/15 $166,500 1,308 4/2/2 0 1987 $127.29
157 Brookfield Lane 6/15 $227,500 1,418 5/2/2 1 2006 $160.44
*Finished lower level

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LONGBROOK ESTATES
LONGBROOK ESTATES
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LONGBROOK ESTATES
CASTLE HILL ESTATES

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CASTLE HILL ESTATES

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Compressor
Station
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The condominium sales data for Agawam is from two large condominium developments.
Longbrook Estates essentially abuts the Agawam compressor station at 1615 Suffield Street and
Castle Hills is located about two miles north. The units in each condominium development vary
greatly in design, size and date of construction. Comparison, despite the similarities, is very
difficult. Units in Longbrook Estates are situated between 0.10 and 0.25 miles of buildings at the
compressor station.
The issues with comparison are evident even within each development. For example, at
Castle Hills, units 3D and 3F were both constructed in 1986 and both sold in 1988. Unit 3D sold
in December 1988 for $178,600 or $125.07 per square foot and Unit 3F sold in June 1988 for
$125,500 or $88.17 per square foot. The sales figures for the 1994 construction were much more
consistent, but the sales figures for resales between 2011 and 2014 are very erratic.
For instance, at Longbrook Estates, 126 Brookfield Lane, an 848 square foot unit built in
1994, sold in August 2013 for $145,000 or $170.99 per square foot and 128 Brookfield Lane, an
848 square foot unit built in 1994, sold in August 2013 for $93,400. Likewise, 43 Dogwood
Lane, a 1,288 square foot unit built in 1987, sold in December 2013 for $195,000 or $151.40 per
square foot and 28 Ash Lane, a 1,288 square foot unit built in 1987, sold in February 2014 for
$160,000 or $124.22 per square foot. The differences in these prices cannot be related to
proximity to the compressor station.
At Castle Hills, Unit 15A sold in December 2012 for $252,000 or $141.18 per square foot
and Unit 21H sold in August 2013 for $210,000 or $117.65 per square foot. Both units are 1,785
square feet and were built in 1986.

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These comparisons highlight that there are significant variations in the pricing or values
of units within each development and indicate that caution must be used when comparing units
between the two complexes to avoid attributing differences in price/value associated with
condition to proximity to the compressor station. Additionally, given differences in dates of
construction, unit sizes and unit designs, not all units are comparable between the two
complexes. The following tables present some of the sales considered most comparable.
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1986/1987 Construction Longbrook Estates and Castle Hills Condominiums, Agawam
Sale
Unit Year Built Unit Area (SF) Sale Date Sale Price Price PSF
11 Ash Lane 1987 1,288 12/88 $131,940 $102.44
12 Ash Lane 1987 1,288 5/89 $130,955 $101.67
13 Ash Lane 1987 1,288 9/89 $122,500 $95.11
15 Ash Lane 1987 1,229 11/89 $139,000 $113.10
16 Ash Lane 1987 1,229 5/89 $140,765 $114.54
18 Ash Lane 1987 1,229 12/89 $136,000 $110.66
19 Ash Lane 1987 1,288 5/89 $137,320 $106.61
23 Ash Lane 1987 1,229 5/89 $135,805 $110.50
25 Ash Lane 1987 1,229 2/89 $146,405 $119.13
Average - Long Brook 1,255 $135,632 $108.05
8D Castle Hill Road 1986 1,386 3/89 $137,000 $98.85

8A Castle Hill Road 1986 1,386 5/89 $139,900 $100.94
2G Castle Hill Road 1986 1,428 9/89 $115,000 $80.53
3F Castle Hill Road 1986 1,428 6/88 $125,900 $88.17
Average – Castle Hills 1,363 $139,280 $102.19
1994 Construction Longbrook Estates and Castle Hills Condominiums, Agawam
Sale
130 Brookview Lane 1994 1,240 10/94 $109,900 $88.63
129 Brookview Lane 1994 1,240 10/94 $122,150 $98.51
135 Brookview Lane 1994 1,240 2/95 $119,900 $96.69
131 Brookview Lane 1994 1,240 11/94 $118,162 $95.29
Average Long Brook 1,240 117,528 $94.78
11G Castle Hills Road 1994 1,208 10/94 $119,900 $99.25

11C Castle Hills Road 1994 1,208 11/94 $120,225 $99.52
11D Castle Hills Road 1994 1,208 11/94 $119,900 $99.25
11E Castle Hills Road 1994 1,208 11/95 $120,650 $99.88
Average Castle Hills 1,208 $120,169 $99.48
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2011-2014 Sales – Longbrook Estates, Agawam
Sale
1 Ash Lane 1987 1,229 4/11 $195,000 $158.67
120 Brookfield Lane 1993 848 9/12 $148,000 $174.53
48 Dogwood Lane 1987 1,229 3/12 $197,000 $160.29
33 Dogwood Lane 1987 1,229 3/13 $190,000 $154.60
136 Brookfield Lane 2004 908 7/13 $187,000 $205.95
126 Brookfield Lane 1994 848 8/13 $145,000 $170.99
128 Brookfield Lane 1994 848 8/13 $93,400 $110.14
43 Dogwood Lane 1987 1,288 12/13 $195,000 $151.40
28 Ash Lane 1987 1,288 2/14 $160,000 $124.22
32 Ash Lane 1987 1,229 8/14 $192,500 $156.63
Average - Long Brook 1,094 $170,290 $155.60
2011-2014 Sales –Castle Hills Condominiums, Agawam
Sale
24H Castle Hill Road 1996 1,208 6/11 $215,000 $177.98
11B Castle Hill Road 1994 1,208 5/12 $223,000 $184.60
10E Castle Hill Road 1986 1,659 3/13 $207,500 $125.08
28E Castle Hill Road 1998 1,208 9/14 $225,000 $186.26
29C Castle Hill Road 1999 1,208 12/14 $231,000 $191.23
Average – Castle Hills 1,420 $216,916 $152.75
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The general comparison shows little difference between prices in the two complexes. The
sales of similar sized units built in 1986/1987 that sold in 1988/1989 are very similar, with the
exception of a couple of outliers. The average price for the nine sales at Longbrook Estates was
$135,632 or $108.07 per square foot and at Castle Hills was $139,280 or $98.71 per square foot.
The units constructed in 1994 which sold in late 1994 and early 1995 show a similar pattern,
with the average price at Longbrook Estates being $117,528 per unit or $94.78 per square foot
and $120,169 per unit or $99.48 per square foot at Castle Hills. The average at Longbrook
Estates is brought down by an early sale at $109,900. The other three sales range from $118,162
to $122,150 per unit and average $120,071 per unit, essentially the same as the four sales at
Castle Hills.
The more recent sale prices are much more varied, but again there are several units that
show a consistency in pricing.
2011 Sales
Property Year Built Area (SF) Sale Date Sale Price Sale Price PSF
1G Castle Hills Road 1986 1,428 1/11 $212,500 $148.87
1 Ash Lane 1987 1,229 4/11 $195,000 $158.67
2012 Sales
11D Castle Hills Road 1994 1,208 7/12 $193,000 $159.77
48 Dogwood Lane 1987 1,229 3/12 $197,000 $160.70
2013 Sales
17B Castle Hills Road 1995 1,208 10/13 $215,000 $177.98
33 Dogwood Lane 1987 1,229 3/13 $190,000 $154.60
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2014 Sales
1B Castle Hills Road 1986 1,428 6/14 $176,900 $123.88
28 Ash Lane 1987 1,288 2/14 $160,000 $124.22
The following sales are from subdivisions located just south of the compressor station in
Suffield, Connecticut. In general, these sales show that the subdivision closest to the compressor
station have the highest values. The table of all the sales is followed by an analysis of the most
similar by year sold.

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Nearby Suffield, CT Subdivisions

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Suffield, CT Paired Sales Analysis

Bldg Size Sale Distance from
Property Sale Date Sale Price (SF) Price PSF Station (Miles)
2014
2 Melrose Lane 11/14 $505,000 2,691 $187.66 1.75-2.00
5 Clay Creek Drive 10/14 $570,000 3,302 $172.62 0.50-0.75
2013
18 Clay Creek Drive 8/13 $833,000 3,876 $214.91 0.50-0.75
37 Windbrook Drive 2/13 $605,000 3,539 $170.95 0.50-0.75
2012
50 Cedar Crest Lane 8/12 $663,500 4,507 $147.22 0.50-0.75
48 Farmstead Lane 7/12 $490,000 3,043 $161.03 1.75-2.00
2011
34 Farmstead Lane 11/11 $577,000 3,402 $169.61 1.75-2.00
44 Farmstead Lane 3/11 $530,000 3,369 $157.32 1.75-2.00
48 Cedar Crest Lane 2/11 $660,000 4,147 $159.15 0.50-0.75
36 Windbrook Drive 8/11 $610,000 3,545 $172.07 0.50-0.75
2010
35 Farmstead Lane 6/10 $448,000 2,400 $186.67 1.75-2.00
25 Farmstead Lane 6/10 $470,000 2,453 $191.60 1.75-2.00
45 Cedar Crest Lane 6/10 $610,000 4,174 $146.14 0.50-0.75
46 Cedar Crest Lane 9/10 $630,000 3,813 $165.22 0.50-0.75
32 Windbrook Drive 9/10 $615,000 3,531 $174.17 0.50-0.75
2006
7 Melrose Lane 11/06 $610,000 3,160 $193.04 1.75-2.00
22 Farmstead Lane 7/06 $585,000 2,450 $238.78 1.75-2.00
39 Farmstead Lane 8/06 $500,000 2,462 $203.09 1.75-2.00
18 Clay Creek Drive 9/06 $990,649 3,876 $255.59 0.50-0.75
25 Clay Creek Drive 3/06 $612,233 3,474 $176.23 0.50-0.75
42 Cedar Crest Lane 10/06 $592,105 3,249 $182.24 0.50-0.75
49 Cedar Crest Lane 9/06 $760,881 3,896 $195.30 0.50-0.75
2005
7 Melrose Lane 8/05 $665,000 3,160 $210.44 1.75-2.00
31 Farmstead Lane 9/05 $650,456 3,542 $183.64 1.75-2.00
32 Farmstead Lane 1/05 $593,357 3,619 $163.96 1.75-2.00
1 Clay Creek Drive 6/05 $646,900 3,570 $181.20 0.50-0.75
3 Clay Creek Drive 6/05 $592,836 3,181 $186.37 0.50-0.75
27 Clay Creek Drive 10/05 $574,108 3,391 $169.30 0.50-0.75
36 Windbrook Drive 10/05 $637,687 3,545 $179.88 0.50-0.75
2004
28 Farmstead Lane 2/04 $507,259 3,295 $153.95 1.75-2.00
34 Farmstead Lane 5/04 $533,875 3,402 $156.93 1.75-2.00
44 Farmstead Lane 11/04 $538,000 3,369 $159.69 1.75-2.00
5 Clay Creek Drive 3/04 $535,600 3,302 $162.20 0.50-0.75
11 Clay Creek Drive 8/04 $501,900 3,614 $138.88 0.50-0.75
37 Windbrook Drive 6/04 $578,118 3,539 $163.36 0.50-0.75
19 Clay Creek Drive 5/04 $622,400 3,876 $160.58 0.50-0.75
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Ring
Radius at
1 Mile
2 Miles
3 Miles
Compressor
Station
Clay Creek Drive,

Windbrook Drive,
Credar Crest Lane
Melrose Lane,
Farmstead Lane
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34 WINDBROOK DRIVE
37 WINDBROOK DRIVE
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48 CEDAR CREST LANE
41 CEDAR CREST LANE

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49 CEDAR CREST LANE
23 CLAY CREEK DRIVE

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The following data and analysis is for single family homes in Agawam. The most
impacted homes are located along Hunters Greene Circle less than 0.5 miles from the
compressor station. There have been few sales along this street, indicating no flight from the
neighborhood, and prices are generally similar or slightly higher than other similar houses in
other areas of Agawam. The sale price of 103 Hunters Greene Circle in November 2006 is
consistent with the prices for other similar size homes in other areas of Agawam. The market
time was also similar. This analysis is followed by an analysis for 53 Charest Lane, another
residential street in this neighborhood.

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Comparable Sales Analysis, Agawam

Rooms/ Distance to
Land Area Bedrooms/ Year Sale Compressor
Property (Acres) Baths Built Area (SF) Sale Date Sale Price Price PSF DOM Station (Miles)
103 Hunters Greene Circle 0.97 8/4/2.5 1990 2,990 11/06 $519,500 $174 70 0.35
149 Coyote Circle 0.46 8/4/2.5 2005 3,218 10/06 $420,000 $131 15 4.35
132 Christopher Lane 0.80 9/4/2.5 2000 2,656 1/07 $435,000 $164 117 2.75
12 Blairs Hill Road 0.45 8/4/2.5 2006 2,600 1/07 $418,000 $161 54 2.90
167 Coyote Circle 0.54 8/4/2.5 2003 3,004 6/07 $491,000 $163 150 4.35
115 Anvil Street 0.60 10/4/2.5 2007 2,700 5/07 $630,000 $233 3 3.60
143 Silver Lake Drive-(1) 1.28 7/4/2.5 2000 2,924 5/07 $454,000 $186 64 2.10
12 Lakeview Circle(2) 0.50 8/4/2.5 1989 2,700 3/07 $435,000 $161 21 2.20
32 Maple Meadows Lane 0.46 9/4/2.5 2000 2,901 10/07 $530,000 $183 57 2.25
(1)
Adjacent to electric power line and Tennessee gas pipeline
(2)
Tennessee gas pipeline easement on property
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Ring
Radius at
1 Mile
2 Miles
3 Miles
Compressor
Station
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Comparable Sales Analysis

Rooms/ Distance to
Land Area Bedrooms/ Year Sale Compressor
Property (Acres) Baths Built Area (SF) Sale Date Sale Price Price PSF DOM Station (Miles)
53 Charest Lane 0.46 11/4/4 1989 3,616 10/11 $375,000 $104 352 0.50
8 Meyers Drive 1.00 8/4/3 1981 3,550 6/12 $350,000 $99 6 2.00
26 Wagon Wheel Drive 0.54 9/4/2.5 1987 3,450 10/12 $329,900 $96 99 3.50
153 Silver Lake Drive(1) 1.81 9/4/3 1990- 3,848 9/12 $417,000 $108 33 2.10
43 High Meadow Road 0.34 9/4/2.5 1983 2,322 7/12 $262,500 $113 57 4.35
209 Silver Lake Drive 0.30 8/4/2.5+ 1988 2,456 9/12 $349,000 $142 52 2.15
6 Yorkshire Lane 0.48 7/4/2.5 1996 2,468 10/12 $360,000 $146 11 2.80
16 Lancaster Drive(1) 0.64 7/4/3.0 1996 1,714 5/10 $302,500 $176 199 2.75
45 Cricket Road 0.45 7/4/2.5 1995 2,036 3/10 $311,000 $153 34 2.75
23 Cricket Road 0.48 8/4/2.5 1991 2006 4/10 $306,500 $153 243 2.75
(1)
Adjacent to Tennessee gas pipeline
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Ring
Radius at
1 Mile
2 Miles
3 Miles
Compressor
Station
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Consideration has also been given to the single family properties located near the
compressor station on Suffield Street. These are generally unique properties and few have sold,
making a meaningful analysis impossible.
Rooms/
Land Area Year Bedrooms/
Property (Acres) Built Baths Area (SF) Assessment Sale Date Sale Price
1649 Suffield Street 2.25 1981 5/3/2 1,188 $173,100 1/14 $151,300
1661 Suffield Street 2.22 2006 11/5/5 4,908 $616,400 -- --
1673 Suffield Street 2.18 1979 8/3/1.5 2,106 $255,600 6/89 $240,000
1685 Suffield Street 2.13 1979 7/3/2.5 1,815 $310,000 -- --
1629 Suffield Street 1.00 1968 7/4/2 2,284 $228,900 11/01 $189,900
1639 Suffield Street 2.27 1984 5/3/2 2,362 $307,500 -- --
These properties show long term ownership in the area, and every house has been
constructed after the installation of the pipeline and the construction of the original building at
the compressor station in 1952. The compressor station, therefore, did not stop development. The
house at 1661 Suffield Street, built in 2006, is one of the larger homes in Agawam with an
assessment that is well above average.
The Agawam data shows no obvious or systematic impact of the compressor station on
residential property values or land use, with large single family homes located within about 0.50
miles and condominiums located within about 0.10 miles of buildings at the compressor station.
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IV: REVIEW OF PUBLISHED LITERATURE
As part of this research project, I have reviewed other published studies on the impact of
compressor stations, and similar potential neighborhood nuisances or disamenities such as
pipelines, power lines and industrial use, on property values to gain insight into the problem
being studied and the methodologies used by other researchers. No research studies were found
on the impact of compressor stations.
Until recently, last 15 or so years, there had been limited published literature on the
impact of pipelines on property values. Most of the literature focused on power lines. Since the
high profile pipeline explosions in San Bruno, California in September 2010 and Allentown,
Pennsylvania in February 2011, more research has been completed and published on the impact
of pipelines.
I am not familiar with any published studies on the impact of pipelines on real estate in
New Hampshire, but I have reviewed a research report dated June 30, 2015 by Chalmers &
Associates, LLC on high voltage transmission lines (HVTL) and real estate markets in New
Hampshire. This report concludes: “most importantly, there is no evidence to support the
existence of consistent measurable effects of HVTL on real estate market values.”
In terms of studies on the impact of pipelines on residential property values, all of the
literature I have reviewed has developed similar conclusions as the conclusions of any studies,
namely that proximity to natural gas transmission pipelines and compressor stations has no
measurable impact on residential property values. Some of the studies reviewed include:
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 Eric Fruits, Ph. D, Portland State University, “The Impact of the Presence of a Natural
Gas Pipeline on Residential Property Values,” November 4, 2008.
The study uses the hedonic housing price approach to estimate the impacts of pipelines.
The study finds that the proximity to a natural gas pipeline has no statistically or
economically significant impact on residential property values.
The study is based on housing data from Clackamas and Washington Counties in Oregon.
 Barry A. Diskin, Ph.D., MAI, CRE, Jack P. Friedman, Ph.D., MAI, CRE, FRICS, Spero
C. Peppas, Ph.D., and Stephanie R. Peppas, MAT, “The Effect of Natural Gas Pipelines
on Residential Value,” Right of Way, Jan/Feb 2011
This study analyzed numerous subdivisions and data on approximately 1,000 parcels and
relies on paired sales analysis for seven communities in three counties in Arizona. The
study “could not identify a systematic relationship between proximity to the pipeline and
sale price or value.”
 William N. Kinnard, Jr., Sue Ann Dickey and Mary Beth Geckler, “Natural Gas Pipeline
Impact on Residential Property Values: An Empirical Study of Two Market Areas,”
Right of Way, June/July 1994
This study included both urban and suburban areas of Connecticut. The study found “no
systematic pattern of measurable and significant negative impacts on sales prices of
residential properties close to an existing or proposed high-pressure GTP was observed.”
 Allen, Williford & Seale, Inc., “Natural Gas Pipeline Impact Study,” 2001
This study was completed for the Interstate Natural Gas Association of America
Foundation (INGAA Foundation) and considers case studies in four separate
geographically diverse areas/ It utilizes paired sale, descriptive statistics and linear
regression analysis. The study concludes “that there is no significant impact on the sales
price of properties located along natural gas pipelines in the areas of study, that there is
no discernable impact on demand for properties along natural gas pipelines in the
locations studied and the existence of a pipeline did not impede development of the
surrounding properties in any location researched.”
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 “The Impact of Natural Gas Pipeline Easements on Residential Property Values -

Vermont Case Studies”
This study was submitted by the petitioned for the proposed development by Vermont
Gas Systems of the Addison Natural Gas Pipeline extending from Chittenden County to
Middlebury in Addison County. The study uses paired data analysis on eight case study
properties in Vermont. The conclusion of the study is that “the eight case studies provides
small evidence that the presence of or close proximity to a gas pipeline easement on a
residential properties does not have a negative impact on the value of the property.”
 Tsur Somerville, Ph.D. and Jake Wetzel, MsC, “Pipelines and Property Values: A
Review of the Academic Literature” prepared for the Trans Mountain Expansion Project,
May 22, 2014
 Louis Wilde, Christopher Loos and Jack Williamson, “Pipeline and Property Values: An
Eclectic Review of the Literature,” February 2012
 William R. Long, MAI and Brett A. Smith, “Valuing a Gas Pipeline Easement,” Right of
Way, September/October 1998
 William R. Lang, MAI and Brett A. Smith, “Seeing Value on a Gas Pipeline Easement,”
Right of Way, January/February 1999.
The conclusion of the authors, after the analysis of many sales and interviews with
market participants, was that “no damages exist for residential property from proximity to
typical high-pressure natural gas transmission lines.” This article also referred to a June
1991 study by Dr. William Kinnard, President of Real Estate Counseling Group of
Connecticut, Inc., titled “Measuring Residential Price Impacts from Proximity to Natural
Gas Transmission Lines.” This study, based on a multiple regression analysis of 1,171
sales of homes in ten town sin southern Connecticut showed no differences in results
between properties that abutted the pipelines (16-, 26- and 30-inch pipes) and properties
up to 200 feet from the pipelines.
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V: CONCLUSION
This analysis was completed to determine if compressor stations, in general, impact
residential property values. The data indicates that proximity to a compressor station has no
measurable, systematic impact on land use or residential property values located at least 0.5
miles from the compressor station, and probably as close as 0.25 miles, based on limited data for
Agawam, Charlton and Pelham. The data for properties located closer than 0.25 miles is very
limited, but no data as found that supports a measurable impact on properties located as close as
500 feet or 0.10 miles of buildings at the compressor station. The study is not intended to prove
or disprove whether an individual residential property has ever been impacted by proximity to a
compressor station, but whether there is a systematic, measurable impact. On land use and
residential property values in general.
The data also shows that compressor stations have no measurable impact on land uses, as
land uses around existing compressor stations are similar to land uses in other areas of these
towns. The layout of the subdivisions and condominium developments reviewed for this study
are similar to other subdivisions and condominium developments in these areas.
The data conclusively indicates that while proximity to a compressor station might be
viewed negatively by some that there has always been a sufficient number of buyers willing to
acquire properties located near compressor stations, that these properties sell at similar rates as
properties located farther from the compressor station, and that there is no measurable difference
in the prices paid for properties located in close proximity to a compressor station.
These conclusions are supported by other studies and literature and through interviews
with market participants familiar with properties impacted by compressor stations.

VI: QUALIFICATIONS
The primary author of the report is Steven R. Foster, MAI. Mr. Foster has worked as a
real estate appraiser since 1981, holds the MAI designation from the Appraisal Institute and is a
licensed appraiser in both New Hampshire and Massachusetts. During his appraisal career, he
has appraised numerous properties with easements, including properties with easements for
compressor stations. Approximately 15 years ago, he appraised a significant number of
properties impacted by compressor stations and completed a similar study on the impact of these
compressor stations on residential properties in Massachusetts. He has testified as a real estate
expert in federal and state courts as to the impact of compressor stations on residential and
commercial property values.

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RESEARCH REPORT:

A Study of Natural Gas Compressor Stations

Tennessee Pipeline Company LLC

Steven R. Foster, MAI

I. EXECUTIVE SUMMARY ....................................................................................................... 3

III: COMPRESSOR STATION STUDIES .............................................................................. 25

IV: REVIEW OF PUBLISHED LITERATURE .................................................................. 137

V: CONCLUSION .................................................................................................................. 140

VI: QUALIFICATIONS .......................................................................................................... 141

Compressor stations are external property characteristics (externalities), or uses in a

referred to in some appraisal literature as neighborhood nuisances. Examples of externalities that

industrial uses, landfills, incinerators, power plants, compressor stations, windmills,

terminal or railroad tracks is generally viewed as a disamenity.

viewed by market participants as a disamenity or neighborhood nuisance. The presence of

impacted by proximity to a compressor station, but whether there is a systematic, measurable

impact on land use and residential property values in general.

transactions to measure the impact of a property’s proximity to a compressor station. Transaction

linkages, as well as being negatively impacted by other externalities or neighborhood nuisances

marketability of residential properties or values of residential properties due to their proximity to

despite having other alternatives.

No published literature was found relative to the impact of compressor stations on

proximity to the compressor station.

development has occurred near the Charlton compressor station.

impact with no measurable, systematic impact on residential property values, particularly on

developments located greater distances from these stations.

positive or negative. Compressor stations are an external property characteristic (externalities) or

an imposed condition that is sometimes referred to as a disamenity or neighborhood nuisance.

Other examples of externalities that might be classified as a neighborhood nuisance for

The impact of external property characteristics on property values, assuming there is

greater distances from the station.

contribution of individual property characteristics can be isolated and measured though

comparative market analysis.

compressor stations on residential property values. Information on hundreds of real estate

transaction reviewed as part of this study.

impossible to find 100% comparable sales.

The study includes a review of literature on the impact of compressor stations on

impacted by pipelines and compressor stations.

Pipeline is defined as:

An underground pipe used to transport natural gas under pressure.

Compressor station is defined as:

Price is defined as:

Value is defined as:

In the marketplace, value is commonly perceived as the anticipation of benefits to

from market transactions.

Property characteristic (attribute) is defined as:

in the prices paid for properties.

Elements of comparison is described as follows:

referred to as amenities, and negative external characteristics, such as proximity to a landfill,

potential negative external property characteristics or influences as “neighborhood nuisances.”

the four existing compressor stations in New Hampshire and Massachusetts.

Compressor Station 270B1, Pelham, NH

nearest residential uses. A limitation of this analysis is that it is impossible to differentiate

area is also impacted by a pipeline and a HVTL.

and the comparison of these condominium developments to other condominium developments in

other areas of Windham supports no systematic, measurable impact on residential property

Compressor Station 267, Hopkinton, MA

values. The limitation of this analysis, if an impact is found, is that it is impossible to

development will not be successful.