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The Effect of Green Areas and Parks on Real Estate in Miami

November 11, 2016

If you live in an urban area, like any part of Miami, you should be well aware of how big an impact having plenty of green space around can have on your daily life. That’s because a park placed in a useful location can efficiently provide intrinsic environmental, aesthetic, and recreational benefits to its immediate area. To begin with, the presence of trees are extremely important for a city’s environmental welfare. Trees can help with both filtering out unwanted chemicals in the air and acting as a natural filter for water pollution.

Plus, green areas and parks are also a source of positive economic benefits. That’s because they enhance property values. They also increase municipal revenue. And, they attract homebuyers, workers, retirees, and more. Trees are important for everything from controlling pollution to contributing to climate regulation. Did you know that just one tree can actually provide the same amount of cooling power as ten air conditioners? This is especially important for cities and regions that are affected by hot summers, like South Florida!

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How exactly do parks benefit public health and produce social benefits?

In dense urban areas, think most of Miami, a park or a lush green area can be vital for a person’s physical and mental health. On the surface, parks simply encourage more frequent physical activity by giving people an area where they can exercise and participate in recreational activities. Obviously, any physical activity is likely going to significantly improve a person’s health. But, just below the surface, the psychological effects of regularly being out in nature can be easily observed. There’s a reason why so many people head to their local park when they are seeking a sanctuary or to find some peace and quiet.

Local parks in urban areas can also contribute to a neighborhood’s community development. Children who regularly play in their local park have the ability to develop a number of things, from muscle strength to cognitive thinking & reasoning abilities, just by interacting with other children and learning to cooperate with others. These basic human interactions could be the foundation for a child’s success, both in school and later on, in the professional working world. Consequently, parks are a regular feature within stable neighborhoods throughout the world.

How can building more parks actually generate more money?

Think about, a beautiful park can bring a substantial amount of economic value to a city. People are willing to pay more for a property that is closer to a park. The higher value of homes means that people are also going to be paying higher property taxes. This will result in a higher standard of living for the city’s inhabitants. Parks and green areas also encourage tourism, conventions, and new businesses. In many cases people will use parks as a venue for organized events like art festivals, athletic events, food festivals, and concerts. As a result more tourists are going to fill up nearby hotels and restaurants. With the increased traffic around parks local businesses are going to be positively affected as well. In fact, according to NRPA, “America’s local and regional public park agencies generated nearly $140 billion in economic activity and supported almost 1 million jobs from their operations and capital spending alone in 2013.”

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New Green Areas in Miami

Have you noticed that when the weather is nice, people are more inclined to head outdoors to play? This makes it particularly important, for a city like Miami that stays warm year round, to provide access to plenty of parks for recreation and relaxation. Granted, there is plenty of green space that already exists in Miami. But, that doesn’t mean there isn’t room for more. The Underline and the Wynwood Greenhouse are two big green area projects that are currently being developed in Miami which Miamians are certainly eager to see completed as soon as possible.

The Underline is a new project in Miami that plans on transforming the land under the metrorail into a 10-mile linear park. This urban trail will be the perfect destination for bike riders and commuters for a daily experience within live art. Expanding this green area will be a great way to connect the whole city of Miami. Additionally, The Wynwood Greenhouse Park is planned as “the intersection of art, architecture, and landscape for a local community with a global presence.” This large greenhouse park will be the perfect place for local residents and tourists alike to have an intimate experience with nature, and one another, right in the heart of one of the fastest growing neighborhoods in the country.

If you are interested in new projects involving green space in Miami, be sure to check out all of the available listings at metro1.com. Through brokerage, management, and development, the experienced team at Metro1 is looking to shape neighborhoods, while giving back to the city of Miami. The Wynwood Greenhouse is just one example of how we are making this happen.

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