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Could Building Parks Fix the Real Estate Market?

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A new initiative by the Speedwell Foundation believes so.  According to an article in Atlantic Cities, the project called “Redfields to Greenfields” looks at what could happen if empty commercial sites were converted into parks.  Research is currently being developed at the Georgia Institute of Technology with the assistance of the City Parks Alliance advocacy group.  In addition, they have partnered with 11 cities in the US including Houston, Denver, Cleveland, and Atlanta to predict what might occur if a city were suddenly able to invest in buying up and converting commercial properties to parks.  Some potential outcomes are increased property values and job creation through the demolition, redesign, construction and maintenance of the parks.


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