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From our review of these studies, it appears that a positive financial relationship between
<br />parkland and real estate values is heavily depended on the local context, the desires of the local
<br />community, and the design and amenities present in the park. However, further studies are
<br />needed to draw conclusive findings.
<br />Works Cited
<br />Cho, Seong-Hoon, Kim, Seung, Lambert, Dayton, Park, William, and Roberts, Roland.
<br />"Relationship between value of open space and distance from housing locations within a
<br />community." Journal of Geographical Systems. 2010.
<br />Crompton, John. "The impact of parks on property values: empirical evidence from the past
<br />two decades in the United States." Managing Leisure, 203-218. 2005.
<br />Fan, Qin, Hansz, J. Andrew, and Yang, Xiaoming. "The Pricing Effects of Open Space
<br />Amenities" Journal of Real Estate and Finance Economics, 244-271. 2016
<br />Harnik, Peter and Crompton, John. "Measuring the total economic value of a park system to a
<br />community." Managing Leisure, vol. 19, no. 3,188-211. 2014.
<br />Hamik, Peter and Welle, Ben. "Measuring the Economic Value of a City Park System." The Trust
<br />for Public Land. 2009.
<br />Hicks, Robert and Queen, Bonnie. "Valuing Historical and Open Space Amenities with Hedonic
<br />Property Valuation Models." Agricultural and Resource Economics Review, vol. 45, no. 1, 44-67.
<br />2016.
<br />Livy, Mitchell and Klaiber, Allen. "Maintaining Public Goods: The Capitalized Value of Local
<br />Park Renovations." Land Economics, vol. 92, no. 1, 96-116. 2016.
<br />McConnell, Virginia, and Walls, Margaret. "The Value of Open Space: Evidence from Studies of
<br />Nonmarket Benefits." Resources for the Future. 2005.
<br />Ottensmann, John and Payton, Seth. "The implicit price of urban public parks and greenways: a
<br />spatial -contextual approach." Journal of Environmental Planning and Management, vol. 58, no.
<br />3,495-512. 2013.
<br />Wachter, Susan, and Wong, Grace. "What Is a Tree Worth? Green -City Strategies, Signaling and
<br />Housing Prices" Real Estate Economics, vol. 36, no. 2, 213-239.2008.
<br />Alig, Ralph, Wu, JunJie, Xu, Wenchao. "How Do the Location, Size and Budget of Open Space
<br />Conservation Affect Land Values?" Journal of Real Estate Finance and Economics, 73-97. 2015.
<br />ECONorthwest
<br />160 DOWNTOWN PARKS SITE ASSESSMENT 6 FEASIBILITY STUDY REPORT
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