Here is assorted information regarding the impacts of a neighborhood having access to a biking/hiking trail.  In Sarasota County new home projects seek to have The Legacy Trail access when possible.  When they have access to the trail it is featured prominently in their marketing.   Homes in the Multiple Listing Service (MLS) that are near the trail also feature this benefit in their marketing.

An increasing number of today’s generation of buyers place a high value on trail access; this is a substantial change from past generations seeking golf courses.  For example, in Sarasota County The Legacy Trail is the #2 most popular park only trailing our beaches.

 

MIAMIVILLE, Ohio 

Researchers at the University of Cincinnati say the closer you live to a Little Miami Bike Trail head the more your home is worth.

“Multi-purpose trails have a significant influence on the price of houses when they lie within close proximity to the trail,” assert Professors Olivier Parent and Rainer vom Hofe.

The co-authors of the study conclude that in Hamilton County a home will devalue by $8,960 when moving away from the trail head by 1,000 feet.

Taylor Morrison is one of the largest builders in Sarasota County, and presently, is a dominant building in the Palmer Ranch area where The Legacy Trail runs through the neighborhoods

This is a new, upscale Taylor Morrison neighborhood – below are excerpts of their sales information:

About Esplanade on Palmer Ranch

Esplanade on Palmer Ranch has the distinction of bordering beautiful Oscar Scherer State Park. A walking trail along a natural creek connects to Sarasota’s Legacy Trail, a 10+ mile system of paved trails that is perfect for walking, jogging and biking. The natural beauty of the neighborhood will be enhanced by lush landscaping, grand oak trees, several lakes, and two large wetland preserves.

Studies On Safety,Property Values Near Trails,  and The 1st Link Below Provides Examples Of How Homes In Sarasota County Are Including The Legacy Trail In Marketing

HomeMarketingLegacyTrl

House.sales.near.trails

LA.Bike.paths.safety.property.values

Rail Trail Studies

Pinellas

Tripadvisor .Legacy.trl

Bill Cantrell, Debbie Ask and John Ask are again 2018 Parade of Homes Judges on February 17, 2018.

Information can be found at:  http://www.paradeofhomesinfo.com/

Here’s some cool pictures………….dream!  Call us if you’d like to learn more about new home construction vs. buying existing – this is an area of long experience for us.

 

In November 2018 Sarasota County passed a referendum by over a 70% margin to extend The Legacy Trail.  Learn more from the Sarasota Herald-Tribune article below.

Sarasota County voters pass a referendum to extend The Legacy Trail.  See the editorial from the Sarasota Herald-Tribune 11/12/18

An overwhelming 70.6 percent of countywide voters approved borrowing $65 million to extend the Legacy Trail about nine miles north to Payne Park in downtown Sarasota using bonds that will be repaid with property tax revenue. Connections also will be added from North Port through Venice. The 10-mile trail, which opened in 2008, currently runs from the Historic Train Depot in Venice to Culverhouse Nature Park in Sarasota.

But there’s more to the extension than just pavement, county officials say.

“Restrooms and improved amenities are also proposed within this development project,” Nicole Rissler, interim director of parks, recreation and natural resources, told the commission late last month. “A key priority in the development and vision of the Legacy Trail extension are the safety improvements that are proposed along with this project including road crossings and overpasses.”

Proponents of the pricey trail say it could result in higher property values and will provide a safe path for off-road commuters — while some argued that the funds should go to more pressing needs.

To repay the debt for the extension project, county officials estimate a property owner of property with an assessed value of $200,000 will pay $9 in fiscal year 2020, $16 each year from fiscal years 2021 to 2039 and $7 in fiscal year 2040, county documents show.

County officials expect the extension to open in 2024 if the design and build phases go off without a hitch.

It is estimated roughly 250,000 individuals use the trail annually for recreation or to get to school, work or shopping. Even voters who don’t typically use the trail voted in favor of extending it and covering the cost.

“Anything that promotes conservation or user-friendly services, I am in favor of,” county voter Wesley Meltzer said. “I may not use the Legacy Trail but there are enough people that use it — I go by it very often — so I think it’s very important.”