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September 18,1995 Mian rlau esola Rea!EJourna! -.
<br /> INFORMATION
<br /> i F - Minnesota Real Estate Journal Section B
<br /> FOCUS ON
<br /> 4 ENVIRONMENT 18,1995
<br /> Paving the way for
<br /> Whereas developers used to base the
<br /> value of land solely on what could green corridors
<br /> be built upon it,it is becoming more appar-
<br /> ent that incorporating natural environ-
<br /> ments or open spaces into development
<br /> pays off—both for the developer and the Because parkways seem to have a positive economic impact on neighbor-
<br /> community as a whole.
<br /> One particular kind of open space, hoods, Hennepin County planners are looking for more ways to incorpo-
<br /> called a green corridor,can be extremely
<br /> beneficial in the long run when it is incor- rate green corridors into community development.
<br /> porated into city planning, says Larry
<br /> Blackstad,principal planning analyst and By Edie Grossfield
<br /> manager of Hennepin Community Works.
<br /> Hennepin Community Works,an employ- neapolis into a bikeway/walkway,which contributing factor to why property values lakes)is impossible to create in the sub-
<br /> mem public works and tax base develop- would stretch from Lake Calhoun to the around it have not increased much.In fact, urbs.And it's close to mix-used commer-
<br /> ment program housed within Hennepin Mississippi River. she says the neighborhood associations in cial space...while giving people the oppor-
<br /> County,conduct- the area have talked about how to connect tunity to be
<br /> ed a study last - - ty exposed
<br /> ee that."
<br /> ."green space every
<br /> < <;,, the park to other park systems. day.People need that."
<br /> year - which ,
<br /> found green- ' Another advantage to greenways in the Four green corridor projects have been
<br /> ways to be great " selected by Hennepin Community
<br /> _ s. Works as priorities for future devel-
<br /> The study mss" ,� R `, t :4.40 0-66,000 opment in the county.These include:
<br /> looked at green 9' y n:.,- r, •- •' -. • II[ GREATER THAN 66.000 ••The 29th Street Corridor.
<br /> .r+- OW .,, +.--, •The Humboldt Avenue/Shingle
<br /> corridors within 0� ma i t- Creek greenway,which would cre-
<br /> ennepin Coun- .,r "•:L. - ,?":`r , II �o` '_ ate a parkway connecting Brookdale
<br /> and found W• - , ,. Mall,some Brooklyn Center and Min-
<br /> t!'-,:a t,ptoperty-W. �� s; ..neapolis residential neighborhoods-and.__- -.._._
<br /> values near c .� �°•'d►...S .,e..-,, ," — - the Shingle Creek Valley.
<br /> them are si - 2 e: ,.. _ * ! • The Hopkins Light.Rail
<br /> candy higher ,y
<br /> than those far- �`"`' ( s:—1,..4.4.4,,,,,,,,z,i' : , -: Transit Corndodaedar Lake
<br /> Cher away. The Minnehaha Parkway in »�• ` ; ., `- c, Trail Extension hi and , which
<br /> study also found that i ntrast to green South Minneapolis 4l` r s. +z - ' Creek Rehabilitation, which
<br /> corridors—which are .- red as open ,�,,��,, _ • fir!" " would create
<br /> corridor a transit and
<br /> spaces providing transportatt•.routes to a ving a natural amenity • `u, `` x- 4 - ' western suburbs frthro through•larger park system —prope a values attra people and instills tee` +� .. } downtown Minneapolis and
<br /> around isolated parks are not e••-anted, more •nfidence in an across the Mississippi River to
<br /> and in some cases are declining. area," 'ringer says. h _~ •r
<br /> One example of a green corridor is • - e Y _, . - a•. i the trial A ea. Minneapolis
<br /> "People pet one ♦ I, Industrial Area•nehaha Parkway,a waikway/bikeway. . another. It • .mesa 7.� _ •The Plymouth Avenue -
<br /> running along Minnehaha Creek in South place to be i lead of a Jr - •' It. 1 Sumner Field greenway,
<br /> Minneapolis.The parkway sits between •lace not to be. t 2'.' . W which would restore a portion
<br /> two other greenways—West River Road fact, the •di Street •e a ' 6 of Bassetts Creek and create a
<br /> to the northeast and the Calhoun/Harriet Co •.r has been. the cen- ia`�� 'a parkway with increased green
<br /> chain of lakes to the west—creating a ter of.,, ion for -• el- > J � #� space across North Minneapo-
<br /> lo walkers.g, unbroken corridor for ikers and opment . East Lake Beet "1 l : �=••- lis.
<br /> sin p between In rate 35 d _ it gg "Each of these four projects
<br /> g tax and value data,along with Hiawatha Ave, e.The i .� ,: :-, _. ' 3 will create a corridor,which
<br /> Geographic Information System (GIS) Street Project ear ,`. fj F, _-±•:�-. y L w. should have the ability to sta-
<br /> maps,Hennepin Community Works'study working on red opment .. ' _ / 'u~• bill=and enhance the tax
<br /> ) .
<br /> found that properties situated within five planning—is hopin,that a '-.�••� "'-"'' '"•"""_ •� base around it; and by
<br /> to 10 blocks of any location along Min- green corridor will h . to rr ' ._ " s t ,,'r +,y,a" '. K.. _i•1 adding value,hopefully cre-
<br /> nehaha Parkway have appreciated in value spark housing developm• t -:"`-a a a, ' t ••.., a.- acing n amenity that is
<br /> significantly higher over a five-year pert_ along it and encourage job- • _ ; -r `44%3r, ,;,,n-4.11., . .' attractive to private invest-
<br /> od than those farther away.This is true for generating businesses to r q _-• k u tk t`-*. 'it _ men[,"Blackstad says.
<br /> other greenways in Minneapolis as well, locate in the area. \�l .- • )r` �••ti. ,l' -'- -?"r Although some other
<br /> according to the report. Blackstad sees that if the I '` w. i. r . �t r;
<br /> "The differences were so glaring,"says Y '! d ..1 K i '; 1si haves in elo d re States
<br /> &" Y greenway along 29th Street `., . ..; ��: have developed green cor-
<br /> Blackstad 'Mere is a huge value along a can at least help stop the loss `� •_ t 'i "`-=
<br /> P P L t r-,,, odors,Blackstad says Hen-
<br /> greenway, and then four or five blocks of tax base that has been � t' r R� * 10 �'' nepin Community Works
<br /> away it starts to diminish.And then it occurring in many of the -a , t p k has not been able to find a
<br /> becomes a situation where we're losing neighborhoods in that area, �..A. . ti -'-r - city that is trying to use•value." it will serve a great purpose. , ',, .r 4•'•k--• greenways as a tool
<br /> Interestingly enough,the areas where He says that along certain • , ' ,. �,z ., ' "
<br /> the city sees the most poverty and crime parts of the 29th Street Cor- s r �:° for creating jobs,eco-
<br /> are those farthest from these green corri- ridor.S5 million per year of the - `` - ! a'_ • , `: nomic value and
<br /> Pe Y [i , enhancing property
<br /> �� tax base is lost. 1 a` „e values."No one has tried to.44 While such social conditions cannot "I think the key is that(green -a ..• A r -•�a `r; put all these pieces together.
<br /> imply be explained by the absence of a corridors)have got to be connect- We've had people from other
<br /> parkway,green corridors do play a role in ed to something," says Min- Ctty of Minneapolis Residential Market Value in Dollars cities come to us and say.
<br /> discouraging crime and encouraging eco- neapolis City Council Member (Land and Building) 'We've heard about what you
<br /> nomic development,says Tim Springer of Lisa McDonald.McDonald says are trying to do,we think it
<br /> the Midtown Greenway Coalition. The that,for example,while Powderhom Park city is that they are amenities the suburbs makes sense,and keep us informed.'"
<br /> coalition is working on converting an old in South Minneapolis is a beautiful open just cannot compete with,McDonald says. Isi
<br /> railroad bed along 29th Street in Min- space,the fact that it is isolated may be a "Having an amenity like the (chain of
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