This paper examines the long-term effects of Kenya’s post-independence land settlement policy, focusing on the "Million Acre Scheme," a large-scale redistribution initiative implemented in the 1960s. Using a geographic regression discontinuity (RD) design and multiple waves of Demographic and Health Survey (DHS) data, the study evaluates how formal land rights granted through the settlement program have shaped economic development outcomes over time. The analysis links a newly digitized historical map of settlement boundaries to geocoded household data and reveals that individuals living within settlement areas exhibit significantly higher wealth levels but lower educational attainment—particularly among women and those located far from markets. These results suggest that while land tenure security may have spurred investment and asset accumulation, it also constrained household mobility and reduced incentives to invest in human capital. The findings underscore the importance of balancing tenure formalization with broader access to economic and educational opportunities when designing land reform policy.