Open Space

One of the things that humanity aspires to is open spaces and outdoor recreation opportunities, a place where families can enjoy natural beauty in its most raw form. The open space definition is those areas of unimproved land or water that are undeveloped in any way and are set aside in a developed area for environmental or recreational purposes. For example, a subdivision having 50 homes dedicates five acres for a recreational area to be maintained by the local municipality.

These open space areas are planned in only one way, and that is as a structural element of that area of the city or neighborhood. When development happens in a city, these areas are left undeveloped and are made public so that those living in the area can enjoy them. A neighborhood with open spaces where residents can hike or experience other outdoor activities is more appreciated than those without. These usable public areas are inviting and work as an incentive for the community to explore them in their own time. Some real estate open spaces work only as a visual amenity, but they can also work to improve the community like agricultural land does to rural towns. 

Types of Open Spaces in Real Estate

Green spaces are the most common types of real estate open spaces in cities. New York’s Central Park is a famous place, but the level of development in it may affect its status as open space. Parks, however, in general, are considered to be open spaces. Green spaces are covered in grass, shrubs, trees, or other types of vegetation. Ponds, rivers, and stretches of water are also included here. Some level of development can be encountered in parks. Still, those are only incorporated within a park to make them more enjoyable, and the amenities included can be benches, playground areas, lanes, recreational areas, etc. Other types of green spaces considered open spaces in the real estate market are cemeteries for their effect on home values and community gardens for the visual benefit they bring to any development.

The other significant types of open spaces are national parks, national forests, or protected wildlife refuges. These types of open spaces are public or semi-public as pedestrian access is not always allowed in all the corners of wildlife refuges or protected reservations.