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A resident economist’s perspective on linear parks Adam T. Jones

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Page 1: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

A resident economist’s

perspective on linear parks

Adam T. Jones

Page 2: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Objectives

• Parks & Gardens strives to maintain and

operate parks and facilities that enrich the lives

of the community and promote an overall

healthier lifestyle

© 6/4/2019 Swain Center All Rights Reserved

Page 3: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

© 6/4/2019 Swain Center All Rights Reserved

May 16, 2019 Star News

Page 4: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Participation in Physical Activity

© 6/4/2019 Swain Center All Rights Reserved

Fit and

Outdoors!

Page 5: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Additional Opportunities• Disconnectedness

• Younger population

• Social media

• “Parental fears”

• Older population

• Cul-de-sac streets

• “The American Dream”

• Community Development

• Maximize property values & QOL

• Minimize health and mental illness

© 6/4/2019 Swain Center All Rights Reserved

Page 6: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Participation

0

10

20

30

40

50

60

70

80

FitnessSports

IndividualSports

OutdoorSports

RacquetSports

TeamSports

Participation By Generation

Gen Z Millenials Gen X Boomers

© 6/4/2019 Swain Center All Rights Reserved

• Participation

Declines

with Age

• Team

Sports

• Fitness and

outdoor

sports hold

up the best

28.4%

Decline

Page 7: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Reconnecting through

linear parks

Page 8: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Proximity and Real Estate Values

• If parks are desirable Buyers willing to pay

more for proximate real estate

• “Close” proximity ~ 20% premium

• (Crompton 2005)

© 6/4/2019 Swain Center All Rights Reserved

Page 9: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

© 6/4/2019 Swain Center All Rights Reserved

Page 10: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

“Close”

© 6/4/2019 Swain Center All Rights Reserved

“Close” looks

to be walking

distance

Page 11: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

More Small Parks More “Close”

© 6/4/2019 Swain Center All Rights Reserved

Page 12: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

The Value of Linear Parks

© 6/4/2019 Swain Center All Rights Reserved

Summer Rest Trail Ogden Park

2.3 acres

~37 homes border

~16 homes per park acre

115 acres

~80 homes border

~0.7 homes per park acre

Page 13: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Summer Rest Trail

© 6/4/2019 Swain Center All Rights Reserved

Summer Rest Trail

~7300 ft Frontage

Square 2.27 Acres

~1260 ft frontage

Summer Rest Trail

0.7 Miles

2.27 Acres

Page 14: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Golf Courses as Analogous

• Golf courses similar to parks

• Most residents on golf course do not play golf

• Certainly don’t walk out and play

• Demographics and tastes changing

• Golf courses at risk

• Source of land for trails

• Potential to partner with communities through Tax

Increment Financing?

© 6/4/2019 Swain Center All Rights Reserved

Page 15: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Justification for Courses Parks

© 6/4/2019 Swain Center All Rights Reserved

Page 16: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Linear Park Opportunities

• Abandoned Rail

• Wilmington Rail Trail

• Rail Realignment

• Utility easements

• Existing Right of Way

• Drainage corridors (see Houston)

• Golf Courses

• Developers!!!

© 6/4/2019 Swain Center All Rights Reserved

Page 17: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Low Hanging Fruit

© 6/4/2019 Swain Center All Rights Reserved

Page 18: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Small Project = Large Impact

© 6/4/2019 Swain Center All Rights Reserved

Page 19: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

© 6/4/2019 Swain Center All Rights Reserved

Page 20: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Participants

Gen Z22%

Millenials29%Gen X

19%

Boomers30%

Population

Gen Z Millenials Gen X Boomers

© 6/4/2019 Swain Center All Rights Reserved

0

20

40

60

80

100

120

140

Team Outdoor Racquet

Part

icip

ants

(th

ou

san

ds)

Number of EstimatedNHC Participants

Gen Z Millenials Gen X Boomers

Page 21: A resident economist’s perspective on linear parks · Objectives •Parks & Gardens strives to maintain and operate parks and facilities that enrich the lives of the community and

Thank you.


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