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- Title
Measuring Benefits Generated by Urban Water Parks.
- Authors
Darling, Arthur H.
- Abstract
This article presents a study undertaken by David M. Dornbusch & Co. Inc., San Francisco, California, which focuses on measuring benefits generated by urban water parks. The real value of the services that any particular property renders depends not only on its own quality and facilities but also on the quality and facilities of the neighborhood in which it is located. Urban lakes and parks improve the quality of the neighborhood in which they are located and thereby increase the services provided by each housing unit in the area. This improvement in quality increases the real income of the community and should be reflected by a higher market value of property in the area. There are two possible methods of using property value to estimate the benefits attributable to a park. The first is a before and after approach, which studies the value of property before and after the development of a park. The changes in value are estimated to be the benefits derived from the urban park. This approach was not used because sufficient data were not available for sites where such park construction had taken place.
- Subjects
SAN Francisco (Calif.); CALIFORNIA; URBAN parks; MUNICIPAL water supply; REAL property; AQUATIC parks &; reserves; MARKET value
- Publication
Land Economics, 1973, Vol 49, Issue 1, p22
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3145326