This was originally published on RISMedia’s blog, Housecall by Zoe Eisenberg
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. The report, Cultivating Development: Trends and Opportunities at the Intersection of Food and Real Estate, examines the meeting of food and real estate from three perspectives: the impact on people, the environment and real estate values.
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. “An emphasis on access to healthy food is spurring innovative developments that are enhancing the overall prosperity, sustainability and livability of our communities.”
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.
The study’s research also focused on a few innovative food projects and the communities that support them, including the Aria Denver in Denver, Colo. and the Chelsea Market in New York City.