- Wilmington provides a snap-shot of small town America, where residential and commercial real estate values have plummeted back to Year 2000 levels.
- Wilmington’s West Side has one of the lowest ratios of parks to people in the country.
- Where there is almost no open space, there is also the highest concentration of youth.
- Red Fields to Green Fields will:
- Acquire 165 parcels and transform Wilmington’s neighborhoods.
- Remove from the market 50% of the vacant property tin the target area.
- Put every resident of the target area within 500 feet of park or open space.
- Increase property values by $36 million
- Create pocket parks, community gardens, playgrounds, art parks, and dog parks.
- Create hundreds of jobs and serve as a revitalization model for small town America.
Vacant properties exert a downward pressure on real estate prices, leading to a vicious cycle of disinvestment, abandonment, and depressed value.