The Economic Value of Tree Preservation in a Weak Land Development Market Region

. New residential development is most often a death sentence for the trees that stand in its way. This behavior might be altered if developers thought there was an economic value to being more selective. Unfortunately, the relationship between tree preservation and new development is not well studied. The purpose of this study was to characterize the economic value gained from the preservation of mature trees during the land development process. The study focused on six counties constituting the greater Cleveland, Ohio, U.S., real estate and land development market. A mixed quantitative and qualitative approach was used. GIS-based data and a series of hedonic models determined the value of tree canopy associated with new home sale prices from 2009 to 2011. Qualitative interviews of development and real estate professionals revealed a nuanced association of value and challenges to tree preservation during the residential land development process. Previous methods for estimating the economic value of trees were moved forward through aerial location of trees on parcels using Google Earth™ and the National Agricultural Imagery Program (NAIP) data and through the mixed-method approach. The study provided information to a state-level agency managing the state’s incentive-based smart growth program. Résumé. Les nouveaux développements résidentiels annoncent le plus souvent une condamnation à mort pour les arbres qui se dressent sur leur chemin. Cette conséquence pourrait éventuel- lement être atténuée si les promoteurs prenaient conscience de l'avantage économique à être plus sélectif. La relation entre la pré- servation des arbres et le développement domiciliaire a malheureu-sement été peu étudiée. Le but de cette étude était de caractériser la valeur économique

[1]  Heather A. Sander.  Assessing impacts on urban greenspace, waterways, and vegetation in urban planning , 2016 .

[2]  B. Deal,et al.  A dose-response curve describing the relationship between tree cover density and landscape preference , 2015 .

[3]  N. Timilsina,et al.  Urban forest structure effects on property value , 2015 .

[4]  J. Ottensmann,et al.  The implicit price of urban public parks and greenways: a spatial-contextual approach , 2015 .

[5]  Toke Emil Panduro,et al.  Classification and valuation of urban green spaces—A hedonic house price valuation , 2013 .

[6]  D. Gardner,et al.  The Effect of Landscape Trees on Residential Property Values of Six Communities in Cincinnati, Ohio , 2013, Arboriculture & Urban Forestry.

[7]  Q. Xiao,et al.  Lower Midwest Community Tree Guide: Benefits, Costs, and Strategic Planting , 2012 .

[8]  Robert F. Young,et al.  Planting the Living City , 2011 .

[9]  Robert G. Haight,et al.  The value of urban tree cover: A hedonic property price model in Ramsey and Dakota Counties, Minnesota, USA , 2010 .

[10]  J. Colletti,et al.  Valuation of open space and conservation features in residential subdivisions. , 2009, Journal of environmental management.

[11]  J. Ottensmann,et al.  Valuing the benefits of the urban forest: a spatial hedonic approach , 2008 .

[12]  Rayman Mohamed,et al.  State growth management, smart growth and urban containment: A review of the US and a study of the heartland , 2007 .

[13]  Renata E. Hari,et al.  Screening Procedure to Assess the Impact of Urban Stormwater Temperature to Populations of Brown Trout in Receiving Water , 2007, Integrated environmental assessment and management.

[14]  M. Walls,et al.  The Trade-off Between Private Lots and Public Open Space in Subdivisions at the Urban-Rural Fringe , 2007 .

[15]  Robert E. Hoehn,et al.  Oxygen production by urban trees in the United States , 2007 .

[16]  Rayman Mohamed,et al.  The Economics of Conservation Subdivisions , 2006 .

[17]  Robert I. McDonald,et al.  Shades of Green: Measuring the Value of Urban Forests in the Housing Market , 2005 .

[18]  Andrew J. Englande,et al.  Impact of urban stormwater runoff on estuarine environmental quality , 2005 .

[19]  Qingfu Xiao,et al.  Rainfall interception by Santa Monica's municipal urban forest , 2002, Urban Ecosystems.

[20]  R. J. Laverne,et al.  The Influence of Trees and Landscaping on Rental Rates at Office Buildings , 2003, Arboriculture & Urban Forestry.

[21]  R. Pendall.  Sprawl Without Growth: The Upstate Paradox , 2003 .

[22]  D. Nowak,et al.  Carbon storage and sequestration by urban trees in the USA. , 2002, Environmental pollution.

[23]  Y. Kestens,et al.  Landscaping and House Values: An Empirical Investigation , 2002 .

[24]  Y. Kestens,et al.  The Impact of Mature Trees on House Values and on Residential Location Choices in Quebec City , 2002 .

[25]  H. Akbari,et al.  Cool surfaces and shade trees to reduce energy use and improve air quality in urban areas , 2001 .

[26]  J. Gorman,et al.  Residents' Opinions on the Value of Street Trees , 2000 .

[27]  G. Lewis.  The Effect of Vegetation on Residential Energy use in Ann Arbor, Michigan , 1996, Arboriculture & Urban Forestry.

[28]  E. Mcpherson,et al.  Chicago's urban forest ecosystem: Results of the Chicago Urban Forest Climate Project. (Includes executive summary). Forest Service general technical report (Final) , 1994 .

[29]  David J. Nowak,et al.  Air pollution removal by Chicago's urban forest , 1994 .

[30]  E. Gregory McPherson,et al.  Assessing the Benefits and Costs of the Urban Forest , 1992, Arboriculture & Urban Forestry.

[31]  L. M. Anderson,et al.  Influence of Trees on Residential Property Values in Athens, Georgia (U.S.A. ) : A Survey based on Actual Sales Prices , 1988 .