How do you place a value on the built and natural environment
This study highlights the total value of roughly 8,000 acres made up of 8,023 parcels that are within a quarter-mile buffer zone of the Trinity River. This buffer zone was chosen based on the classic planning theory that a quarter-mile represents, on average, a 10-minute walk for most individuals. This conservative estimate of total value within the buffer zone equals $3,568,956,022. This value does not reflect every parcel-value that intersects the quarter-mile buffer zone, it only depicts the parcel-values for parcels that are located completely within the quarter-mile-buffer-zone from the center line of the Trinity River. This means that there are additional parcels that intersect the flood buffer, meaning there is additional value to be captured within the buffer zone. The parcels totally encapsulated by the buffer zone gain more utility from the river than parcels that merely intersect the buffer zone. The data has been divided into four sections including Clearfork, Westfork, the Confluence\Downtown, and East River.
Through this data, the study is showing a conservative snapshot of the total real estate value of parcels located completely within a quarter-mile buffer zone from the Trinity River. After filtering 2017 parcels from the TAD (Tarrant Appraisal District) database, based on proximity to the river; the study updated its findings with 2019 TAD data to relay more up-to-date totals for the improvement value, land value, and total value of parcels within the quarter-mile buffer zone. These updates lack the current physical construction along the river. This is the first step in recognizing the river’s historic economic impact on development in Tarrant County.