This study seeks to evaluate the effects of public parks on housing prices in Colorado Springs. I expand on previous hedonic housing price models by adding a spatial metric as well as characterizing public parks into four categories: neighborhood, community, open space, and regional. I do this to differentiate the types of parks and provide better data to urban planners about consumer preferences. It is an ordinary least squares estimation and the variable of interest is distance. Contrary to the hypothesis that housing prices will increase with proximity to parks, for every mile closer to a neighborhood park a house is estimated to be worth $15,080 less. A house is estimated to be worth $16,900 more for every mile closer to an open space. When the tests are run on a subset of the data using only condominium sales, the original hypothesis proves true, value increases with proximity to all park types. Urban planners in the United States can use this as valuable insight when developing plans for public parks in the future.
Historic documentation of life at the turn of the 19th century created by residents of Colorado Springs, Colorado in 1901 for the citizens of 2001. Under the direction of Louis R. Ehrich, a prominent 19th century businessman, the items were sealed in a chest which was stored in various buildings on the Colorado College campus until the official opening January 1, 2001 at the Charles Leaming Tutt Library. Contents of Ms349, Fd 44, Parks in Colorado Springs - Edgar T. Ensign include: 1 5-page, handwritten article, “Public Parks and Parkways in Colorado Springs, Colo.” by Edgar T. Ensign, signed; 1 envelope addressed with title above and quotation from Sir Walter Scott, “Jock, when ye hae naething else to do, ye may be sticking in a tree; it will be growing, Jock, when ye’re sleeping.”