MORTGAGE BLOGPosted On January 18, 2017
As the car-centric world starts shifting toward the walkability trend, neighborhoods are seeing property values rise and quality of life improve. Enabling pedestrianization of a neighborhood is the first step toward urban renewal, commitment to a better environment, and a revamped sense of community.
Some of the biggest benefits of more walkable neighborhoods include:
1. Improved Health
A 30-minute walk can burn 100 calories or for every 12 blocks or so walked a day, the risk of obesity drops 4.8%.
2. Traffic Safety
More pedestrians encourage better street design, reduced speed limits, and safer crosswalks.
3. Sense of Community
Neighborhoods with heavy foot traffic have less litter and some even see a decline in crime because residents spend more time walking around and contributing.
4. Stimulates the Economy
Walkers spend as much as 65% more than drivers zooming by shop windows. Fast Company reports that biking and walking provide an estimated ROI of $11.80 for every $1 invested. Converting one Brooklyn parking lot into a pedestrian plaza boosted retail sales 172%.
5. Promotes Sustainability
A Canadian study reported that driving one less day a week can reduce greenhouse gas emission as much as 3.8 million tons each year. On a no-car day in Paris, the city reduced smog by 40%.
A more walkable neighborhood inspires civic responsibility and engages members of the community.
Sources: Fast Company, Arup
