ECONOMIC VALUE OF DALLAS PARKSDallas Park and Recreation Board

August 20, 2015

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Real Estate, $362

Environmental, $18

Tourism, $604

Local Spending,

$236

DALLAS PARKS RETURN $1.2 BILLION TO THE LOCAL ECONOMY

EVERY YEAR, A 15:1 RETURN ON PUBLIC INVESTMENT

VALUE GENERATED BY VALUE DRIVER

in millions

VALUE GENERATED BY PARK TYPOLOGY

in millions

*

*Note: State Fair impacts may shift

between categories based on ongoing

review.

Unique Assets: Dallas Arboretum & Botanic

Garden, Dallas Zoo, MoneyGram Park.

Signature, $749

Neighborhood/Community, $94

Trails, $117

Regional/Metro, $80

Recreation/Golf/Tennis, $8

Natural Areas, $57 Unique Assets, $115

*

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KEY FINDINGS

Trails generate the highest return on investment, over $50 of new development per $1 of trail capital invested. Dallas should continue to expand the trail system to increase impact.

1-100 acre neighborhood/community parks across the city create approximately $94 million in annual value to Dallas residents. Dallas should continue to invest in the value that neighborhood parks create for all Dallasites.

Linking programming to parks via a trail system connected to itself and other parks could create enormous economic value and bolster social equity. From a value creation point of view, we believe it to be the single most important investment Dallas could make.

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DALLAS PARKS ECONOMIC STUDY

San Antonio Housing & Commercial Incentives Study

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DALLAS PARKS ECONOMIC STUDY

Benchmarking Study

Economic Impact Study

Describe the economic benefits of the park system

Quantify the economic rationale for future

investment

Recommend best practices

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PARKS ECONOMIC MISSION

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Dallas County Migration in 2010 (blue indicates U.S. counties with net migration into Dallas County;

red indicates U.S. counties with net migration out of Dallas County.)

Source: Forbes

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BENCHMARKING

Assets – Operations – Resources - Impact

REGIONAL PEERS

Houston

San Antonio

Austin

San Diego

ECONOMIC COMPETITOR PEERS

Phoenix

Atlanta

Denver

ASPIRATIONAL PEERS

Chicago

Minneapolis

Portland

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ECONOMIC IMPACT

Park Value by TypologyReal

EstateEnvironment Tourism

Local

Spending

City

Building

Metro /

Regional Parks

Signature Parks

Community /

Neighborhood Parks

Unique Assets

Recreation Centers

Golf Courses &

Tennis Courts

Linear Parks / Trails

Natural Areas 8

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ANNUALIZED PARK VALUE

9

Denver

Seattle

Dallas

San Diego

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

$1.4

Billion

s

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PRELIMINARY FINDINGS:

BENCHMARKING

San Antonio Housing & Commercial Incentives Study

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1. DALLAS: UNDER-RESOURCED RELATIVE TO ASPIRATIONS

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

$200

Annual Park Department Spending Per Resident

Operating Spending per Resident Capital Spending per Resident

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REGIONAL PEERSECONOMIC

COMPETITOR PEERSASPIRATIONAL PEERS

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2. DESPITE WEALTH OF ASSETS, UNTAPPED PARK DEMAND

Park Acreage & Access by Peer Group

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

0% 20% 40% 60% 80% 100%

Acr

es

Percentage of Population Within Half-mile Walk of Park

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3. ENTREPRENEURIAL DEPARTMENT AND PARTNERS

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PRELIMINARY FINDINGS:

ECONOMIC VALUE

San Antonio Housing & Commercial Incentives Study

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4. PARKS GENERATE A SIGNIFICANT AMOUNT OF ANNUAL

TOURISM VALUE

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5. COMMUNITY AND NEIGHBORHOOD PARKS CREATE THE

MOST REAL ESTATE “PARK PREMIUM” VALUE (~25% of total)

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6. EXISTING PARK VALUE CAN BE ENHANCED

WITH PROGRAMMING

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7. TRAILS OFFER HIGHEST ROI

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8. SIGNIFICANT ENVIRONMENTAL VALUE CAN BE ENHANCED

WITH GREEN INFRASTRUCTURE

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9. PARKS FOSTER AN ENVIRONMENT OF SOCIAL

DIVERSITY IN DALLAS

$136K to $200K

$84K to $136K

$55K to $84K

$35K to $55K

$0 to $35K

NORTH

DALLAS

SOUTH

DALLAS

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Median Household Income

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IMPLICATIONS

San Antonio Housing & Commercial Incentives Study

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RATIONALE FOR FUTURE INVESTMENT

Approximately

1:10 Return on Investment

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ECONOMIC VALUE OF DALLAS PARKSDallas Park and Recreation Board

August 20, 2015