Actually, money does grow on trees

By BILL SCHMIDT
Guest Columnist

In today’s challenging economic climate, many cities and developers are seeking innovative strategies to increase revenue and stimulate economic development while attracting residents and businesses. The answer they seek lies with landscape architects, whose design work has been proven to dramatically enhance the economic value of any neighborhood, city, or region.

Take Millennium Park in Chicago, Ill., for example. In a case study prepared by Texas A&M University (Jerke, Dennis, Serena Conti, and Ryan Mikulenka. “Millennium Park.” Landscape Performance Series. Landscape Architecture Foundation, 2011), it was found that the iconic public space draws in five million visitors annually, “generating an estimated annual revenue of $1.4 billion in direct visitor spending and an additional $78 million in tax revenue.” Millennium Park’s economic benefits go even deeper, with properties overlooking the park commanding premiums up to $125 more per square foot compared to those with city or lake views.

It’s no secret that great landscape architecture can help stimulate economic growth, but how are landscape architects able to achieve such impressive results?

Beauty pays off

Imagine an office park transformed by landscape architects: winding nature trails, lush plantings, and serene water features that enhance the exterior environment. But it’s not just about creating beautiful spaces – their aesthetic appeal offers tangible benefits. Well-designed outdoor spaces elevate the perceived value of an area, making it more desirable to visitors, residents, and investors alike.

For businesses, a visually appealing setting fosters a positive brand image which can, in turn, improve sales. Beyond attracting and retaining tenants, landscape architecture has a profound impact in real estate development. Properties with enhanced curb appeal see higher rental rates and quicker sales. Prospective buyers are willing to pay a premium for homes and commercial spaces that offer attractive outdoor environments.

Ultimately, beautifully designed spaces generate higher demand and increased property values. By investing in landscape architecture, communities can transform aesthetics into a powerful economic asset, thus driving prosperity.

Functional spaces create happier, more livable places

Landscape architecture goes beyond aesthetics, creating functional outdoor spaces that improve quality of life.

Comfort plays a crucial role in residential choices. Spaces designed by landscape architects, such as parks, community gardens, and recreational facilities, provide areas for relaxation, socialization, and outdoor activity. These amenities create an inviting atmosphere that encourages engagement and fosters a strong sense of community. This increased sense of comfort and connection elevates property values and attracts residents, boosting local economies through sustained demand and stable population growth.

Carmel is an excellent example of these benefits. Their variety of functional outdoor spaces, along with the sense of community these spaces provide, has made Carmel one of the most sought-after locations for families to live in the United States. In 2023, a Wall Street Journal article crowned Carmel the “Internet’s Favorite Small City,” explaining the surge in relocations from other parts of the country.

Strategically designed spaces also draw businesses seeking locations that enhance employee well-being and satisfaction. Companies are more likely to invest in communities where their workforce can enjoy a high quality of life, leading to economic growth through increased commercial activity and job creation.

Thriving places start with beautiful and functional spaces. In the vital relationship between design and economic prosperity, landscape architecture remains a key driver of growth for cities and developers.

Bill Schmidt, PLA, ASLA, LEED AP, is the Director of Landscape Architecture at Weihe Engineers, Inc.