Houston Parks Deliver More than Just Green Space
Houston parks deliver more than just green space, they’re boosting property values across the city. Deal Sikes & Associates principal Matthew Deal (featured here with fellow principal Mark Sikes) tells us properties adjacent to one of Houston’s premier parks typically receive more than a 20% boost in value because of their proximity to these outstanding public spaces. Houston’s increasing urban density and the booming high-rise residential market are driving demand for trails and parks inside the Loop.
The 160-acre Buffalo Bayou Park, stretching more than two miles from downtown Houston to Shepherd Drive opened in October and Hermann Park got a major facelift. Popular Discovery Green park has been a catalyst to downtown development like the improvements slated for the George R. Brown Convention Center, and the planned redevelopment of the 1,500-acre Memorial Park is making waves. Matthew notes that even properties located more than 1,000 feet from a park can receive a positive valuation impact of 5% to 10%.