A $63 million investment to build the Cultural Trail in Indianapolis has returned $1 billion in increased property value and other economic benefits since 2008.
John Tuohy reports: "Property values have increased by $1 billion, businesses report more customers and higher sales, and residents feel safer Downtown since construction of the 8-mile Cultural Trail, according to a survey conducted by Indiana University Public Policy Institute."
"The assessment measured the economic impact of the trail from 2008 to 2014 and examined 1,747 parcels within 500 feet of the trail. The institute also sent questionnaires to 66 businesses and 558 trail users." The findings are contained in a report titled, "Assessment of the Impact of the Indianapolis Cultural Trail: A Legacy of Gene and Marilyn Glick" [pdf].
The article includes more details about the findings of the report, including one caveat about the recession's impact on the property values along the trail.
Hat tip to Brent Toderian for sharing the article.
FULL STORY: Study: Property values along Cultural Trail up $1B
The Indianapolis Cultural Trail
Downtown Indianapolis' revitalization created several thriving cultural districts, but gaps in the urban fabric made them seem distant and unconnected. Planners' solution? The Indianapolis Cultural Trail.
Indy Bikeshare System Turns 10, Expands to E-Bikes
Pacers Bikeshare riders logged over 700,000 rides since the system launched in 2014.
Indiana Once Again Considering Ban on Dedicated Transit Lanes
The proposed legislation would impact the construction of planned IndyGo Blue Line, the third phase of the city’s bus rapid transit system.
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
