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Mixing Green Space and Real Estate

When parks and real estate mix, there's preserves and parks. In Irvine, powerline
often a hard working local resident rights of way double as bike corridors,
behind the plans. Or a couple. In the and large landscaping allowances on every
case of New York City's High Line green street are irrigated by reclaimed water.
space and commercial corridor, two Redevelopment and renewal are also
unlikely promoters (a Chelsea artist and popular in Irvine, as seen in the city's
a Village painter) sat down with annexation of the decommissioned El Toro
developers and city planners to come up Marin Corps Air Station, which will
with something truly innovative: an become a 1,749 acre park surrounded by
abandoned freight railway that quickly beautiful custom properties.
became the city's favorite brand, and a Developers and residents have also joined
model for how to make the most of an old forces on a wide variety of open-air
industrial space. Warehouse to condo malls and markets across the nation.
conversions have long been a trendy These projects encourage a more
ticket for developers and high-end attractive development style than big
buyers, but projects like the High Line boxes and parking lots, and often become
show how the non-wealthy majority can the most popular place in the city to
participate in exciting urban renewal, shop and do business. Summerlin Center,
leaving lots of room for investors to with its planned 1.2 million square foot
make a buck. shopping plaza, near Las Vegas, and Pearl
But it's unlikely big projects like these Street Mall, in Boulder, Colorado are two
would get off the ground without the help of the most well-known outdoor mall
of smart developers. Funding to preserve developments in the nation.
and transform the High Line railway had Another positive effect of developers and
to come from somewhere, and nobody can local residents working together is the
get a construction project done faster economic spin-off potential. Most
and better than a developer who sees a developers buy local construction
profit down the road. In Orange County, materials to save costs, and hire local
California, the Irvine Corporation has workers. When a $100 million development
been creating whole cities combining project hits town, money is quickly
parks and real estate since the 1960s. spread throughout the community, and more
The city of Irvine, headquarters to the people have jobs. It's that kind of
company, is the most well-known example, prosperity that encourages people to
where residential and commercial areas preserve their natural surroundings
are woven around large ecological through innovation and urban renewal.




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