The economic Case for Trails |
Trails Raise Our Property Values! A consensus of economic sources indicates that well-designed trails and other community assets, like clubhouses and recreation centers, can raise property values significantly. At the same time, California law protects property owners from liabilities related to a wide range of recreational trails, including the type we have in Timber Cove. (more about liability protection) Most research indicates increases in property values close to trails are between 5 and 20 percent. Studies have also shown no significant increase in crime or other nuisances related to trails. Since our trails are private, not public, that risk is greatly diminished. Additionally they are an attractive benefit for our guests. Urban Economist Looks at Data We are fortunate to have Janet Smith-Heimer as a member of Trail Supporters. Janet is an urban economist with an MBA, founder of a successful consulting service to major cities and agencies. She put together some compelling sources showing how hiking trails increase property values in communities such as ours. These sources are mainly from the Urban Land Institute (ULI), the premier real estate development organization in the nation. To summarize, here is a quote from an article on Conservation Communities: "Buyers pay for access to trails and protected open space. They value views of woodlands, vineyards, pastures, or meadows, and these community amenities contribute to increased home values, even if providing the amenities results in smaller lots or a more compact layout of houses." As an example, look at the promotional materials for a new ocean-view housing community in San Diego. Note the first marketing screen about trails: https://www.sanelijohills.com/our-community/hiking-trails/ There are scores of examples of high-value, scenic, master-planned communities like ours, with commonly owned view trails. Timber Cove’s founders were ahead of their time in this regard and we should be grateful to them for that. Here are a few more websites with additional information. www.americantrails.org/resources/perceptions-of-how-the-presence-of-greenway-trails-affects-the-value-of-proximate-properties https://www.tpl.org/conservation-economics#sm.01ow1xiy1836dxe10pl220uo6mqfh http://www.dcr.virginia.gov/recreational-planning/tr-sbiia1 Here are some other articles that make a good case for supporting and developing community trails: Building for Wellness: the Business Case Conservation Communities - Urban Land Magazine Little Miami Property Values Outlook_ How Can Open Space Add Value to Real Estate Development_ - Urban Land Magazine Product Council Insight_ Outlook for Master-Planned Communities - Urban Land Magazine Trail-Oriented Development_ The Next Frontier in People-Friendly Design - Urban Land Magazine |
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All photos on this page were taken at Sea Ranch, California. a planned development with a world-class private walking trail network.
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