Pittsburgh’s riverfront parks system is not only a haven for rest, relaxation and recreation but an economic powerhouse that has helped to generate billions of dollars in development over the past 15 years, a study has found.
In that time, the $130 million invested in the 13-mile Three Rivers Park has helped to produce nearly $4.1 billion in development on and near the riverfront, according to the study by Sasaki Associates, a Massachusetts-based architectural and planning firm.
In addition, the study, commissioned by Riverlife and to be released today, determined that since 2001, property values along that stretch have jumped by 60 percent compared with 32 percent in the rest of the city.
“The pattern in Pittsburgh and in other cities across the country is clear: properties with close proximity to high quality park infrastructure increase in value more than properties that do not,” the report stated.
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