“In the same way that a home holds value year after year, natural capital improvements such as the Hale Parkway improvements also provides value over time.”
Placing a Dollar Value
on Hale Parkway Community Benefits
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Economic Valuation
of Hale Parkway Improvements
The proposed Hale Parkway Improvements will generate significant community benefits. Using published data, economic values were estimated for eight types of benefits associated with the Hale Parkway project. Benefits were estimated for the existing parkway, and compared to estimated benefits for the proposed parkway improvements.
$2.2 million = average additional benefits per year after project completion.
Benefits for years to come
In the same way that a home holds value year after year, natural capital improvements such as the Hale Parkway Improvements also provides value over time. The annual flow of ecosystem services presented above will continue into the future, and communities will continue to benefit from the Hale Parkway Improvements for many years to come.
$61 million = total additional benefits generated by the project over a 50 year period.
The difference an acre makes
in ecosystem benefits
Converting existing pavement to vegetated green space will generate hundreds of dollars of value in ecosystem services each year for the local community, from improving air to providing valuable habitat for birds and pollinators.
$0 Acre of Pavement per Year
$593 Acre of Grass per Year
$12,790 Acre of Trees per Year
Ecosystem Services | Hale Parkway Improvements
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Page, R., Cousins, K., Mojica, J. 2019. Hale Parkway Economic Assessment. Earth Economics, Tacoma, WA.
Prepared for Enginuity Engineering Solutions, LLC