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Parks as Investment Magnets

Boston

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Parks as Investment Magnets

Urban parks and open space are the cherry on top of commercial developments, says Boston Parks commissioner Toni Pollak. This greenery also attracts more real estate investment. Consider the huge amount of capital that's been poured into property around the Post Office Square Park and the streets around the Greenway; they're vegetative game changers for downtown real estate. (Just make sure you have a Tide-to-Go Stick in case you get a grass stain.) For property investors seeking to turn Boston's traditional commercial districts into new live/work/play neighborhoods, parks and green space help build community by providing a place for people to meet and connect, says Toni.

Parks as Investment Magnets

Accompanying the current development boom are several park projects. Two weeks ago, Toni watched the Mayor cut the ribbon on the Thomas M. Menino Park in front of the new Spaulding Rehabilitation Hospital at the water's edge in Charlestown (above). Universally accessible, it's designed for children of all capabilities and offers views of the Boston skyline across the harbor. Last month, the city inaugurated the new Brighton Common park in Brighton. Boston, Brookline, the state, and US Army Corp of Engineers are doing a $92M repair of the Muddy River to prevent it from again flooding the Longwood Medical Area, where there's billions being invested in new construction.