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An economic case study of Laurel Springs, a residential development in Bainbridge Township, Geauga County (Lawrence Blond Real Estate), revealed the economic value of open space when contrasted with comparable conventional development. Laurel Springs is a project with 211 single-family homes; its total area is 268 acres. Approximately 116 acres, or 43% of the land was set aside during the flexible design process that involved the reduction of lot sizes to one-half acre.

The Laurel Springs economic case study determined that the project’s sellout time was enhanced by Conservation Development design. The overall lot absorption rate was a minimum of 0.5 lots per month greater than the conventional development rate of absorption. Premiums of 10% were placed on lots within Laurel Springs that were adjacent to natural open space areas compared with standard lots within the development. In addition, a 3% net premium was placed on Laurel Springs lots when compared to larger one acre standard lots within conventional subdivisions.

Clearly, homebuyers were willing to pay a premium for smaller lots when the value of open space was associated with a home purchase. The findings concluded that the value of open space in the Laurel Springs subdivision is 8% greater than conventional development with larger lots and no open space, due to lot price premiums and a reduced sellout time period. The developer of Laurel Springs realized a 55% greater residual profit compared to 27% for a comparable development constructed under conventional design standards. Part of this residual profit can be attributed to the decreased cost of compact development which uses less infrastructure.