The Case for Open Space: Why the Real Estate Industry Should Invest in Parks and Open Spaces explores the benefits of private sector involvement in creating, maintaining, operating, and programming parks and open space—ranging from enhanced returns on investment for developers that include open space in their projects to improved community health outcomes. JLP+D President James Lima was one of the three authors of the report who serve on the Urban Land Institute Sustainable Development Council. Lima presented the case at the 2018 National Recreation and Park Association (NRPA) Annual Conference and the 2018 ULI Fall Meetings in Boston.
Drawing on diverse cases from across the country, this report provides a range of ideas and innovations for owners and real estate developers as they consider whether and how to invest in the public realm. The study points to a winning formula: when undertaken thoughtfully, the creation of privately owned or operated, community-accessible open spaces can provide equitable access to resources, strengthen communities, reduce execution risk, and contribute to a solid bottom line for real estate investment.
Client: The Urban Land Institute