ABSTRACTDO NEIGHBORHOOD PARKS IN A DECLINED CITY IMPROVE HOUSING PROPERTY VALUE?By Teddy R. CookMany studies that have assessed the economic benefit of urban greenspace have demonstrated that greenspace has a positive effect on the property value and overall desirability of properties. Previous studies, however, have yet to explore the City of Detroit after the 2013 Bankruptcy, the subsequent decline in population, and the relationship of greenspace toward the single-family property value. In this research, real estate transactions were collected from Michigan’s city of Detroit open data portal, to examine the relationship between community park size, proximity to the park, and the monetary value of single-family housing property. The data gathered was inputted into GIS in order provide spatial results that are more reliable to see, analyze, and understand the patterns and relationships. The results of the statistical model showed that an inverse correlation exists between parks and single-family house transaction value. This correlation highlights the current conditions that are in prevalent in the greater Detroit. This research is an effective gauge to steer the future municipality planning of the communities affected by the population decline.
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