We all know great school systems and access to public parks can amp up real estate values. Did you know access to healthy, innovative eats can have the same impact? A new Urban Land Institute (ULI) report shows that access to healthy eats, a focus on “local” choices, and innovative cuisine options can all support a richer real estate value.
We already know that proximity to quality grocery stores impacts property values. According to the report, the relationship between food and real estate is stronger than how far you live from Whole Foods.
“The synergy between food and real estate is becoming increasingly evident. Just as food plays a key role in social interaction and creating a sense of community, real estate plays a significant role in shaping how people access and experience food,” said ULI Senior Vice President Rachel MacCleery.
It makes sense; food brings people together, and has a great impact on how we identify home.
The report notes that a growing interest in fresh, accessible food nurtures the communities that surround it and spurs innovation in development projects. Think neighborhood farmer’s markets, unique farm-to-table restaurants, community gardens and more.
Below are a handful of important highlights from the report:
– Restaurants, food halls, markets, community gardens, and farms can serve to create a sense of attachment to development projects, adding value and fostering stronger community social ties.
– Community food-growing areas can be differentiating amenities that add value to residential and mixed-use developments at little cost.
– The development community has an essential role in ensuring that places where food is grown, produced, and distributed can adapt to the mounting challenges posed by climate change, high levels of food waste, and fossil fuel dependency.
Healthy foods, healthy real estate markets—a true win-win.
RIS Media | Zoe Eisenberg