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How do greenways affect property values of adjoining properties and neighborhoods?

April 26, 2017adjoining affect greenways neighborhoods properties Property values

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How do greenways affect property values of adjoining properties and neighborhoods?

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A 1998 study of property values along a trail in Brown County, Wisconsin showed that lots adjacent to the trail sold faster and for ~9% more than those not adjacent to the trail (Brown County Planning Commission 1998). Shepherd’s Vineyard developers in Apex, North Carolina added $5,000 to the price of 40 homes adjacent to the regional greenway. Those homes were still the first to sell (Rails to Trails 1999).