Parks as economic generators
Anne Schwartz’s recent column in the Gotham Gazette lays out some pretty impressive figures identifying city parks as economic assets: Central Park contributed $1 billion to the city’s economy in 2007; the High Line is expected to generate $4 billion in private investment and $900 million in revenues to the city over the next 30 years; the 2008 completion of the Greenwich Village section of the Hudson River Park raised real estate prices in the adjacent two blocks by 20 percent. She also cites a study by the Center for City Park Excellence that calculated dollar values for each of seven benefits conferred by parks–property values, tourism, direct use, health, community cohesion, clean water and clean air–in a series of cities. Big numbers, and an interesting way of quantifying quality-of-life dimensions.
(via City Parks Blog)
