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Resurrecting formerly blighted parks & train tracks spurs economic development

Lessons learned from New York City’s High Line park

“The city had recouped construction costs within a year, as the corresponding uptick in property taxes in 2010 “surpassed the cost of constructing the park itself.” Former New York City Mayor Michael Bloomberg also touted the success of the High Line in 2011, when he told a crowd that it had led to more than $2 billion in private investment, according to the Times.

Given the success of the High Line, both as a public works project and a local economic engine, it’s not surprising that cities across the U.S. and elsewhere around the globe are moving forward with plans to resurrect formerly blighted parks and train tracks.”

Read the back story and further information HERE  via http://www.freeenterprise.com

PICS: my High Line photos from 2011

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    Resurrecting formerly blighted parks & train tracks spurs economic development « Saint John Commercial Real Estate

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