I reside in a subdivision that is being offered a connection entrance
to walking/biking path being built in a neighboring forest preserve. I
have been told that it will decrease not increase property values in
our neighborhood. Does anyone know of a study/studies that provide
data on that.
Thanks
Bill
In article <>,
wrote:
> I reside in a subdivision that is being offered a connection entrance
> to walking/biking path being built in a neighboring forest preserve. I
> have been told that it will decrease not increase property values in
> our neighborhood. Does anyone know of a study/studies that provide
> data on that.
I had something like this happen to a friend. They closed on
a lot, and the builder never told them that a walking path
(one connected to a regional trail system) was set to run
along the end of their lot. They were pretty paranoid and
upset about it, but liked the house so much that they ended
up not going to court over it. They planted a hedge row along
the path to block off the view to their property. The city
got a bit upset over it, but in the end, there was nothing
that the city could do about it--the hedge stayed.
In the long run, I think the path is value neutral. It
is an attraction, but not enough to really improve your
value. Some will see it as attracting strangers, but no
enough to make them pass on a deal.
-john-
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John A. Weeks III 952-432-2708
Newave Communications
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John,
Yeah, one of the residents is having the same issue as the entrance
path crosses the back of their lot. It is still being negotiated. My
house is not close to the entrance. I would really like to find a
study or studies that have been done on the walking trail impact for
property value or crime statistics. Being in Illinios, a study from
this state would probably be more relevant.
Thanks for the feedback.
Bill