NAR Reports "Art Effect" Allows Nearby Landlords to Charge Higher Rent

Real Estate Agent with Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty DRE# 00901962 Lic.1985

NAR Reports "Art Effect" Allows Nearby Landlords to Charge Higher Rent


CHICAGO – Public art has been linked to building booms and price increases for residential real estate, so developers and city planners are working to weave art throughout new real estate projects and public spaces.

"Developers are beginning to see that if they want to attract tenants, they have to offer them more than just four walls," says Barbara Goldstein, a public art planner and consultant in San Jose, Calif. "We're going to see more and more of this kind of thing."

The art effect can be seen in real estate across the country. For example, Chicago's Millennium Park, which opened in 2004, features open-air galleries and interactive public art. After its opening, the prices of nearby condo buildings skyrocketed. Some in the city credited the "Millennium Park factor" for the area's real estate growth by about 10,000 new units over the following decade and $1.4 billion in residential development (as estimated by an economic impact study by URS and Goodwin Williams Group).

A suburban Brookland neighborhood in northeast Washington, D.C., now features Monroe Street Market, a five-block mixed-use development that includes two buildings devoted to artists' studios on the ground floor. The studios have glass doors and are part of an art walk in the community. When the development first opened in 2014, the median home list price in its ZIP code was $474,000. By 2017, the median price had jumped to $598,400 – a 26.2 percent increase in three years, according to data.

The High Line in New York is a one-mile park that reclaimed an abandoned elevated railroad track to become a tourist attraction. The park features art and attracts 1.3 million visitors each year. The real estate prices and development near it have soared since its opening in 2014.

"People really want to be near these great, iconic places or things that make a city recognizable," says Scott Stewart, executive director of the Millennial Park Foundation in Chicago. "A lot of these spaces where you've created something spectacular out of something less than desirable … those are attractive. They naturally draw people to them."

Source: "As Public Art Goes Up, So Do Nearby Home Prices,"® (April 25, 2018)

Thanks for reading "NAR Reports "Art Effect" Allows Nearby Landlords to Charge Higher Rent".

Posted by

Aloha & God Bless You, 

Michelle Carr Crowe Just Call 408-252-8900 sign image


Michelle Carr Crowe of the Get Results Team Real Estate Agent . Author . Coach . Trainer DRE #00901962 Licensed to Sell since 1985

P: Just Call ... 408-252-8900
F: 408-947-1585
1190 S. Bascom Ave., Suite #118
San Jose, CA 95128

Michelle C. Carr-Crowe and the Get Results Team (established by the late legendary Silicon Valley super agent Judy Carr) are known as the "Lynbrook and Cupertino Schools Experts." Coaching clients to success is Michelle's passion, making her and her team creative catalysts for positive change in people's lives. She is a Silicon Valley-based multi-million dollar real estate consultant, author, coach and trainer who works by referral only.

Her designations have included: Accredited Buyers Representative (ABR), Accredited Consultant of Real Estate (ACRE), Accredited Luxury Home Specialist (ALHS)Accredited Staging Professional (ASP)Certified Distressed Property Expert (CDPE),  Property Marketing Expert (PME), Real Estate CyberSpace Specialist (RECS), and Senior Real Estate Specialist (SRES).

Michelle is an internationally-published freelance writer with over 1,200 traditional articles in print and online, co-author of two books on Silicon Valley-specific real estate as well as over 68,000 blog posts on Blogger, ActiveRain, Examiner, FaceBook, Realtor, Trulia, RealBird and others. She enjoys reading, traveling, animals, nature, family, dancing, staging, consulting, coaching and praying. Check out her blog at or visit her online at or For RE$ult$ ... Just Call ... (408) 252-8900.



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Real Estate Market Trends
California Santa Clara County San Jose
San Jose Real Estate
California and Hawaii Real Estate and Area Information Blog
Addicted to Active Rain
California Real Estate
Cupertino Real Estate
nar reports art effect allows nearby landlords to charge higher rent

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Michelle Carr-Crowe Just Call 408-252-8900 Top 1%!

Family Helping Families Buy & Sell Homes 40+ Years
Subscribe,Sell,Search San Jose Homes for Sale Cupertino Schools
Spam prevention

Additional Information