THE ECONOMIC VALUE OF PROTECTED OPEN SPACE Case Study: Radnor Trail
Apr 01, 2015
THE ECONOMIC VALUE OF PROTECTED OPEN SPACE
Case Study: Radnor Trail
THE ECONOMIC VALUE OF PROTECTED OPEN SPACE
Built in 2005, Radnor Trail in Radnor Township Delaware County, is a 2.4 mile trail along an abandoned railroad bed
“The Trail is probably the most frequently used recreational facility in Radnor Township. Whenever I see people on the Trail, I see people smiling.” Mary Coe, Friends of Radnor Trails
Recreation Benefits:Recreation Benefits:- Estimated 150,000 users annually (200 to 600 daily)- Alternative to gyms, roads, and school facilities
Radnor Trail
THE ECONOMIC VALUE OF PROTECTED OPEN SPACE
Radnor Trail
Property Values
- Average property increase of $69,139 within a quarter mile
- Referenced as an amenity in real estate listings
Revenue Generation
- Increased customer base for local businesses alon trail
- Revenues contributed to park and program expansion