Many cities prioritize improving walkability in downtowns and commercial areas, not just to enhance safety or to develop community character, but because there is real potential for financial return on investment. Investments in walkability, which measures an area’s ease of connectivity via non-vehicular transportation, can include sidewalks, multi-use paths, streetscape enhancements, and traffic-calming measures. While these projects might be more often categorized as infrastructure, they do much more than provide a mode of transportation. They have the power to transform local economies.

Places where people feel safe and comfortable walking are places where businesses can thrive. Bustling downtown districts offer a variety of things to do - restaurants, coffee shops, art galleries, and breweries - all within walking distance of one another. Increased foot traffic creates higher property values in these areas and the surrounding neighborhoods as well. Over time, the tax value per acre in these dense, walkable areas will outpace areas that are more dependent on vehicular traffic. This has been confirmed in multiple studies by Urban3, a company specializing in revenue modeling and cost of service analysis for cities.

Not only do these compact, walkable places generate more tax revenue per acre, they require less extensive infrastructure networks compared to sprawling, car-dependent developments. For cities, this results in lower costs for road maintenance, utilities, and public services. It’s a win-win.