Greenway-Oriented Development: Good For Communities, Good for the Economy
Greenway-Oriented Development: Good For Communities, Good for the Economy
Why should a developer favor a greenway development over a non-greenway development?
This is part three of five in a series about greenway-oriented development.
Under photos of the Atlanta BeltLine on X are remarks like, ‘Why is your city not doing this?’ or ‘The beltline will make you believe in GOD.’ This 33-mile loop of multi-use trails and parks has sparked over $7 billion in private redevelopment investment along its path, transforming underutilized corridors into thriving properties connected by greenspace.
This type of greenway-oriented development (GOD) makes ripples causing economic growth. Across the world, riverfronts and waterfronts have long catalyzed development. The most expensive properties are often developed around these natural, scenic gems. In other cities such as Charlotte, North Carolina, a public transit line can have the same effect. However, in a landlocked city like Atlanta, planners decided to reorient density inwards.
The Atlanta BeltLine is a lot more than a long greenway. Not only does it offer mobility options for residents, but it has also been activated in all the right ways. From artist exhibitions to lantern festivals, something brings people back to the BeltLine over and over again.
The sheer ambition required tackling substantial legal and zoning hurdles-- not to mention garnering public buy-in for a massive $4 billion investment. Critics raised concerns about overcrowding popular trails and clashing with nature lovers. Over a decade later, that careful balance has paid dividends. Public demand for walkable, trail-connected communities is palpable with over 2 million visitors hiking and biking the BeltLine in 2018 alone. And with new segments continuing to take shape, the project is catalyzing billions more in private investment as developers race to capitalize on trail-oriented growth.
Until recently, most cities lacked the expansive greenway networks needed to anchor major real estate development. Atlanta's BeltLine is one of the first examples of a city developing a long-vacant rail corridor into a successful multi-use trail loop around the urban core. Eric Kronberg of Kronberg Urbanists and Architects commented, “There have been billions of dollars of investment provided, and it really feels like developers just needed some basic guidance on how to prioritize locations. I’m not sure many ‘believe’ in the Beltline in terms of mobility alternatives, but they definitely believe people are willing to pay a premium to be near it.”
While every city's needs differ, the BeltLine represents a pioneering model for smart urban redevelopment in the 21st century. By leveraging pre-existing corridors as an extra boost for development, cities can inject new economic vitality while expanding access to nature - rather than trampling it. For trail advocates and mixed-use developers alike, it's an inspiring vision for blazing more sustainable growth.
Sonia Birla is a student at UNC Charlotte majoring in Finance, Geography, and International Studies. She is the James Hardie Fellow for Urban Development Spring 2024.
 |
|