Greenways can improve bottom line for homeowners

Greenways can improve bottom line for homeowners

The benefits of greenways are well-documented: physical and mental health via exercise, economic development for communities, and environmental benefits when walking or biking replaces driving.

But studies also provide evidence that the proximity of homes to greenways and trails increases their value. In addition to community enjoyment, the financial health of individual homeowners improves thanks to the small, public pathways and large interconnected systems.

Across North Carolina, greenways link parks, playgrounds, neighborhoods, schools, and downtown districts. But more than anything, greenways tie people to these places, building community within communities.

Greenways are in demand for these reasons and others. A survey from the National Association of Realtors and National Association of Home Builders, recent homebuyers listed trails and greenways as the second-most desirable amenity. Properties adjacent to greenways sell faster and for a higher price than similar homes further away from trails.

Additionally, community economic development benefits are numerous and measurable. In Greensboro, WithersRavenel has been working with the City on various aspects of its Downtown Greenway, from design to landscape architecture, stormwater management and treatment, and environmental services. The City estimates that completed and planned investments related to the greenway have exceeded $500 million. That number does not include benefits from increased property value for commercial and residential property owners.

WithersRavenel is proud of our work with greenways, from big cities to small towns and within private developments. We have designed and helped developed more than 40 greenway trails totaling more than 36 miles of paths. Want to learn how we can help bring your greenway dreams to life? Contact Parks and Recreation Director Gary Warner at (919) 535-5238 or gwarner@withersravenel.com.