The study finds that:
- Vacant land improvements result in surrounding housing values increasing by as much as 30%.
- New tree plantings increase surrounding housing values by approximately 10%.
- In the New Kensington area this translates to a $4 million gain in property value through tree plantings and a $12 million gain through lot improvements.
- Indirect effects, such as encouraging additional investment on surrounding properties and neighborhood reinvestment more broadly, are also likely to be large.
- The direct and indirect impacts to the city’s property tax base are likely to contribute to the overall fiscal health of the city.
Last modified by Gayle Diehl