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2FACT <br />Myth and Fact 13 <br />MYTH <br />No discernible difference exists in the appreciation rate of properties <br />located near higher-density development and those that are not. Some <br />research even shows that higher-density development can increase <br />property values. <br />Higher-density developments lower property values in <br />surrounding areas. <br />T he precise value of real estate is determined by many factors, and isolating <br />the impact of one factor can be difficult. Although location and school <br />district are the two most obvious determining factors of value, location <br />within a community and size and condition of the house also affect value. <br />Several studies have examined whether multifamily housing has any impact on the <br />value of nearby single-family detached houses. These studies have shown either no <br />impact or even a slightly positive impact on appreciation rates. <br />Haile Plantation <br />Haile Plantation is a Gainesville, Florida, icon. Although it is denser than surrounding <br />communities, the values of homes in Haile Plantation are often higher than the values of <br />houses in neighboring lower-density communities, because the traditional neighborhood <br />design employed there makes Haile Plantation more desirable and valuable. Beginning <br />with the master plan in 1979, Haile Plantation has been called one of the first new urban- <br />ist communities in the country. Developers Bob Rowe and Bob Kramer in conjunction <br />with the Haile Plantation Corporation developed the 1,700-acre site to include more than <br />2,700 units, ranging from single-family homes to townhouses and garden apartments. The <br />sense of community has only grown with the expansion of the development to include a <br />town center, a village green, trails, civic uses, and offices. Indeed, it is density and diver- <br />sity that together add value to this popular Florida community. <br />PROFILE <br />Homes in Haile Plantation sell for more than neighboring <br />homes because prospective buyers view the traditional <br />neighborhood design as a valuable and desirable amenity. <br />HAILE <br />PLANTATION <br />CORPORATION