Planting Parks to Remedy Blight

"Redfields to Greenfields," a project currently being developed at Georgia Tech in partnership with City Parks Alliance advocacy group, would convert empty commercial sites into parks, writes Nate Berg for The Atlantic Cities.

Proponents of the project argue that converting empty commercial space into parks would increase the value of property and spur new development. Houston, Denver and Atlanta are three of 11 cities that are involved in this project.

"In Atlanta, (Kevin Caravati, lead researcher on the project at the Georgia Tech Research Institute) says, $5 billion could pay for the purchase, demolition, redesign, construction, operations and maintenance of parks covering about 2,850 acres. With a glut of empty spaces and prices at historic lows, now would be an ideal time to make such an investment in communities struggling through the recession."

Full Story: Could Building Thousands of Parks Fix the Real Estate Market?

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