As urban Melbourne adapts to accommodate the demands of a growing population, the necessity to cultivate and preserve green spaces has become paramount.
But beyond the visual appeal of leafy terraces, rooftop lawns, and close proximity to natural amenity, how do green spaces sow value for Pace of Abbotsford residents and investors?
These returns branch into four distinct categories.
• Financial gains
Money might not grow on trees, but research shows it does grow as a result of your proximity to them.
A scan of major centres across the globe shows a strong correlation between proximity to natural amenity and above average property values. New York property adjacent to Central Park continually drives property prices north. The trend repeats in London, and closer to home in Sydney, with dwellings near Hyde Parks outpacing surrounds in capital growth.
Pace of Abbotsford positions itself to benefit from the same favourable outcomes for investors by situating itself in the middle of protected outdoor areas such as Studley Park and Yarra Bend in Abbotsford's heart and Victoria Park just across the road.
• Fostering community
Green spaces are more than just the punctuation marks in urban settings. They are the 'green glue' that binds our cities, making them more liveable by increasing our quality of life.
Parks and reserves play a vital social role within Melbourne by bringing communities together, and creating prized breathing space for people to spend time on their own. As a community-centric development, Pace of Abbotsford has been designed to complement and optimise the parklands of its surrounds at Collingwood Children's Farm, Abbotsford Convent and Victoria Park.
The unparalleled features the suburb boasts is further enhanced by Pace of Abbotsford's terraced gardens and rooftop area, realised to their full potential by renowned Australian landscape designer Jack Merlo.
Health and lifestyle benefits
The World Health Organisation's 2016 report on Urban Green Spaces and Health provides compelling evidence of the connection between people's closeness to nature, and improved physical and mental health.
The report reveals that those with reliable access to parks and reserves are more likely to engage in regular physical exercise, and live a healthier lifestyle than those who do not. Furthermore, it details how green spaces lead to increased relaxation and enhanced environmental awareness for residents, while positively reducing exposure to air pollution and urban heat islands.
Pace of Abbotsford's immediacy to metropolitan Melbourne's major green corridor, the Yarra River, is unparalleled. The bike paths, walking trails and sporting facilities encourage increased activity and recreation for residents who are set to benefit from the healthy lifestyle Pace of Abbotsford promotes.
Register now to get in the green with Pace of Abbotsford's selection of unique 1, 2 & 3 bedroom apartments, dual-level heritage townhouses and stunning multi- level residences.