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Will a park/playground increase proeerty vallues in our subdivision?

We have two vacant (common area) lots in our subdivision. Plan to install a nice (professionally designed) playground with a gazebo tennis court and landscape it nicely. We also have irrigation available for it. Subdivision has only one entrance and exit so access will be somewhat controlled. Insurance estimate is reasonable.
  • February 07 2013 - Pace
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Answers (2)

Generally, a park does help property values. Most buyers consider a nearby or adjacent park to be positive.

The only times that I have seen a park have negative impact on property values are in low end market areas where open spaces can attract crime.

Kevin Durban
State Certified
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  • February 07 2013
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Profile picture for JoshBarnettREIB
Yes it will and it will create a barrier to entry into the neighborhood also.  Has the neighborhood looked into donating the park to the city once completed?  
  • February 07 2013
  • 1Yes

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