More Than Green Spaces: How Investing in Urban Parks Improves Health and Saves Money — A first-of-its-kind study ha |
A study by University of Waterloo researchers has found that the economic health benefits and savings from investing in urban parks, such as increased physical activity, improved mental health, and better air quality, can significantly outweigh the costs, using the case of Peterborough’s Quaker Foods City Square park as an example.University of Waterloo
In an unprecedented study conducted in Canada, the researchers examined the newly established Quaker Foods City Square Park in Peterborough. Despite its $6.4 million price tag, the park is projected to generate economic value exceeding $4 million annually through various physical and mental health benefits.
“Investments in urban parks are among the soundest financial decisions a community can make,” said Jeffrey Wilson, professor in the School of Environment, Enterprise, and Development. “When you consider the population health benefits, the value of lessening climate-related impacts, and the role of parks to support economic development, we see how parks provide a large payback.”
Future research could calculate other benefits such as respite from hot temperatures, relief from noise pollution, increased biodiversity, and social benefits resulting from stronger feelings of community cohesion, higher levels of community engagement, and reduced isolation.
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