Researching the economic benefits of Green Spaces

May 9, 2026

NORFOLK, Virginia — NORFOLK – Green spaces like parks and trails offer visible benefits to communities — playgrounds for kids, paths for runners — but researchers say the economic value of these spaces runs much deeper than what meets the eye.

Flood protection, thermal mitigation, and pollinator support are among the less visible benefits that green spaces provide. Dr. Laura Costadone, a researcher at Old Dominion University’s Institute for Coastal Adaptation and Resilience, is working to put a dollar figure on those benefits.

“Flood protection, thermal mitigation, pollinators, and once we quantify this benefit in physical terms, then I work with economists to try to put the dollar amount,” Costadone said.

According to the Environmental Protection Agency, green spaces help raise neighborhood property values and reduce wastewater infrastructure costs.

Costadone’s research focuses on translating the benefits of neighborhood green spaces into measurable economic output — and using that data to influence where future parks are built.

“If we are able to quantify the benefit provided by these parks, maybe the city can realize it is important to develop some of these land use zones into parks,” Costadone said.

Turning recreational benefit into a practical number requires significant data. Fitness and social media app Strava is helping Costadone gather that data, providing information on where residents in Virginia Beach and Norfolk are going for runs and walks. That information is being used to identify where future parks should be located.

“This is a powerful tool for the decision maker. Because they can go and sit down and pinpoint these areas. And if we have given an economic quantification on why it is important to put a park there, does it provide flooding benefits, thermal benefits, that’s very powerful,” Costadone said.

The overarching goal is to give policymakers a practical, dollar-based case for building new parks and green spaces in their communities.

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