Woodall Rodgers Deck Park Project
Here is an excerpt from The Real Estate Council's 2006 Annual Report citing the economic impact report prepared by Insight Research Corporation for the Woodall Rodgers Deck Park project proposed for downtown Dallas, Texas.
With the Real Estate Council at the helm, the Woodall Rodgers Park Project has achieved astounding support and success. Using Impact Grant Funds and private donations raised by the Woodall Rodgers Park Foundation, the plan for the project has been developed and sets the groundwork for a world-class public park.
According to an economic impact report prepared by Insight Research Corporation, development and operation of Woodall Rodgers Park itself will create $312.7 million in economic benefits including 182 new jobs and $12.7 million in tax revenue benefits. Another $91.1 million in increased tax revenues for the city, county, school and hospital districts will be generated by increases in land values and two real estate projects expected to be built solely as a result of the park's creation. The report also projects an increase in new office space construction and absorption within one-half mile of the park, further enhancing Dallas' tax base.
All information derived from the 2006 Annual Report — Connect, of The Real Estate Council, page 4. Illustration by Jim Arp, the Office of James Barnett.
(© The Real Estate Council, a non-profit organization of commercial real estate businesses in North Texas.)