Cleaning up vacant lots in Philly increased surrounding property values, Wharton study finds
A program to transform vacant lots in Philadelphia into green community spaces resulted in property value increases for homes within a 1,000-foot radius of these projects, according to research from the Wharton School. The study found that on average, homes near these lots increased in value by 4.3% after one year and cumulatively by 13% after six years. The period of the study is from 2007-2017. The lots were greened through the Pennsylvania Horticultural Society's Philadelphia LandCare program.
Source: phillyvoice.com