search query: @author Crompton, J.L. / total: 3
reference: 2 / 3
| Author: | Crompton, J.L. |
| Title: | The role of the proximate principle in the emergence of urban parks in the United Kingdom and in the United States |
| Journal: | Leisure Studies
2007 : APR, VOL. 26:2, p. 213-234 |
| Index terms: | finance assets land values United Kingdom USA |
| Freeterms: | urban parks homes |
| Language: | eng |
| Abstract: | The increased home values represent a 'capitalization' of a park's value to proximate homeowners. This phenomenon has been maned as 'the proximate principle'. Data showing that a park, e.g. Birkenhead Park, was potentially a self-financing venture funded by the enhanced value of proximate profits were widely disseminated and provided the financial rationale for other urban parks in other U.K. cities. This principle was absorbed by Frederick Law Olmsted and documented the Central Park's impact on adjacent property values, demonstrating that the park made a 'profit'. These data were crucial in verifying the legitimacy of the proximate principle and in providing the justification for large urban parks in a host of other U.S. cities. |
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