People have a strong emotional attachment to water, arising from its aesthetic qualities -- tranquility, coolness and beauty. As a result, most water bodies within developments can be used as marketing tools to set the tone for entire projects. A recent study conducted by the National Association of Home Builders indicates that "whether a beach, pond or stream, the proximity to water raises the value of a home by up to 28%." A 1991 American Housing Survey conducted by the Department of Housing and Urban Development and the Department of Commerce also concurs that "when all else is equal, the price of a home located within 300 feet from a body of water increases by up to 27.8%" (NAHB, 1993).
Although there is a limited number of natural waterfront sites adjacent to lakes, rivers, streams, estuaries and open ocean, many opportunities exist to create waterfront property. Homes and businesses can be sited along hydro-electric or water-supply impoundments, and near the banks of artificial lakes created for wildlife, recreational and aesthetic reasons. A practice becoming more prevalent is to site developments around man-made ponds, lakes and wetlands created to control flooding and reduce the impacts of urban runoff on neighboring natural streams, lakes and coastal areas.
When designed and sited correctly, artificial lakes and wetlands can help developers reduce negative environmental impacts caused by the development process, and increase the value of the property. Certain urban runoff management controls can be incorporated into a development in a way that provides aesthetic and economic benefits. Urban runoff controls that are pleasing to the eye and safe for children can lead to increased property values.
Because the beauty of natural surroundings can increase real property values and enhance the quality of life, beautification of land areas adjacent to waterways and detention ponds should be considered an integral part of planning by developers. For existing runoff controls that are unsightly, corrective renovations can be made to increase the property value and quality of life.