Economic Benefits of Parks and Open Spaces to Developers

An increasing percentage of enlightened developers are viewing the provision of parks within their developments less as "takings" or obligations begrudgingly offered for the public good but rather as opportunities for them to better differentiate their developments in a very competitive marketplace.  The bottom line is that parks and open space are good for bottom lines.    

Mountain Bike Trails in Briar Chapel.  Briar Chapel contains 24 miles of trails through 900 acres of open space. 

Supporting numbers produced by Active Living Research:

$1,214: Increased sale price of a home if within 1,500 feet of an urban park.

$5,657: Increased sale price of a home if within 1,500 feet of a specialty park.

$8,849: Increased sale price of a home if within 1,500 feet of a golf course.

$10,648: Increased sale price of a home if within 1,500 feet of a natural forest area.

29¢: Cost required for services for open-space lands per dollar of revenue generated.

32: Average percentage of savings per unit to supply infrastructure services to a compact, walkable community versus a conventional subdivision.

30: Percentage of runoff reduction achieved in a compact community versus a conventional subdivision.

83: Percentage of water-use reduction achieved in a compact community versus a conventional subdivision.

0.6: Percentage of increase in house price correlating with a 10 percent increase in lot size.

20 to 30: Percentage of increased sales for developed lots with trees versus similarly sized lots without trees.

$1.4 billion: Amount the state of Rhode Island is projected to save from 2001 to 2021 by building new housing units within existing urban areas instead of undeveloped areas. (A study in Rhode Island found the state could save more than $1.4 billion over 20 years, or $71.6 million per year, if the state’s next 20,000 housing units were built within existing urban areas instead of in undeveloped areas. The study showed savings on roads, schools and utilities and calculated the benefits of agricultural lands not lost and urban centers not decayed.)

Source: The Economic Benefits of Open Space, Recreation Facilities, and Walkable Community Design  (www.activelivingresearch.org/econbenefit), via NCRPA April Issue of Parks and Recreation