Investing Right the First Time
In 1883 the Minneapolis Board of Trade established an independent park commission to preserve and protect parkland and green space. The board believed that securing land then for what they called “the finest and most beautiful system of public parks and Boulevards of any city in America” would add many millions to the future value of real estate in the city. Despite objections by the city council that the commission lacked accountability and oversight, the voters approved the creation of the commission (Speltz, cited in Garvin, 1996, p. 64).
The creation of the park commission; the hiring of two well-known landscape architects, Frederick Law Olmstead and H.W.S. Cleveland; acquiring land before it was ...