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A Different Kind of Tragedy of the Commons?

606lineThe new 606 is open in Chicago – a mix of 2.7 miles of elevated trail with four ground-level parks along the route. Amidst the excitement of this new linear park, which will bridge four neighborhoods historically underserved by parks, is the familiar cautionary tale about its potential gentrifying impact. Like New York’s High Line, the badly needed park amenity is being viewed partly in light of its negative effects on the neighborhood it was designed to serve. (The New Yorker art critic Peter Schjeldahl said about the High Line, “As a catalyst of neighborhood change, the High Line has been to usual gentrification what a bomb is to bottle rockets.”)

But the issue of the impact of a new park on property values – and the resulting displacement of longtime residents by the rising cost of housing – is worth a thoughtful analysis. Are we blaming parks for increasing property values, or might that be better explained as the result of the state of the housing market and public policy?  Continue reading