Monday, April 21, 2008

Community Gardens brought a 9 % increase in property values




CEOs for Cities reports:

Vicki Breen is on the faculty of NYU law school and runs the Furman Center for Real Estate and Urban Policy there. This is a resource that all urban leaders should know about.

During a Smart City interview, Vicki told me that a yet-to-be-released study on New York's community gardens shows that they have led to a substantial increase of 9 percent in property values within a four-block radius over five years.

It may be the effects of cleaning up lots filled with rubble, more eyes on the street, or the social capital that they build. But whatever it is, community gardens are a big success in New York.

Take a look at Furman Center's PlanNYC. Vicki assures me that the Furman Center is ready to share its templates and teach anyone how to duplicate this site for other cities.


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