Impact of New York's High Line Park good property values

Impact of New York's High Line park is amazing, its ability to add value to the site by increasing the value of the surrounding real estate, drawing tourists to the area, serving as an invaluable connector to three West Side neighborhoods, and lending some historic context to the site.

Impact - New York’s High Line Park in the Sky Opens Today by Iwan Baan

The High Line makes good economic sense, as borne out already in Chelsea, where real estate values have appreciated considerably in part because of the elevated rail line's renaissance, and star architects have flocked to build innovative structures nearby.

New York's High Line Park rendering - Design by James Corner Field Operations and Diller Scofidio + Renfro - Courtesy of the City of New York

According to Friends of the High Line's 2002 study - which presumed that properties close to parks and open space such as the High Line see their values increase between 10 and 14 percent over nearby properties, the High Line would bring incremental tax revenue of nearly $200 million to the city.

In 2007, an updated version of the study adjusted that to over $400 million. The city recently completed its own study that said the High Line has already created $950 million in real estate value.

In addition impact, the High Line has driving tourism in New York City, helping the city to fill the many hotels that are sprouting up on the West Side, including in Chelsea.

The recycling of the railway into an urban park has spurred real estate development in the neighborhoods that lie along the line. Mayor Bloomberg noted that the High Line project has helped usher in something of a renaissance in the neighborhood: by 2009, more than 30 projects were planned or under construction nearby.

Crime has been extraordinarily low in the park. Shortly after the second section opened, The New York Times reported that there have been no reports of major crimes such as assaults or robberies since it opened.

Parks Enforcement Patrols had written summonses for various infractions of park rules, such as walking dogs or bicycles on the walkway, but at a rate lower than Central Park. Park advocates attributed that to the high visibility of the High Line from the surrounding buildings, a design feature inspired by the writings of urbanist Jane Jacobs. "Empty parks are dangerous", David told the newspaper. "Busy parks are much less so. You’re virtually never alone on the High Line."

A New Yorker columnist was of the opinion, when reviewing the diner re-named for the High Line, that "the new Chelsea that is emerging on weekends as visitors flood the elevated park ... is touristy, overpriced, and shiny."

The success impact of the High Line in New York City at this moment has inspired other cities to investigate the feasibility of replicating it in their cities, "including Chicago, Philadelphia, and St. Louis..." It has encouraged other large cities' leaders, such as Mayor Rahm Emanuel of Chicago, who see it as "a symbol and catalyst" for gentrifying neighborhoods.

It costs substantially less to redevelop an abandoned urban rail line into a linear park, rather than to demolish it. James Corner, one of its designers, said, "The High Line is not easily replicable in other cities," observing that building a "cool park" requires a "framework" of neighborhoods around it in order to succeed.

New York's High Line Park:

New York High Line Park in the sky New York High Line Park gives us a feeling as one of excitement and pride that New York city was able to take something and turn it into something that everyone can enjoy.

Revival of New York's High Line Park The revival of the New York High Line and its surrounding areas in Manhattan has received a boost and set for a brighter future.

Impact of New York's High Line Park New York 's High Line Park has great impact, its makes good economic sense - add value to the site by increasing the value of the surrounding real estate and drawing tourists to the area too.