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Cornell Real Estate Review

Article Title

Galisteo Basin Preserve

Abstract

[Excerpt] Conservation easements can act as a catalyst for new development by increasing land values, improving public access to recreational spaces, and provide land owners with tax savings, among other benefits. Furthermore, the public benefit and growing appeal of sustainable development approaches, such as conservation easements, can help fast track and improve the odds of approval of a project. Conservation easements are not without their costs, however. These costs include giving up developable land and creating a stewardship program, as well as other costs. Commonweal Conservancy acts as an example of the implementation of a large scale conservation easement as the centerpiece of a development. While the conservation easement plays a key role in sustainability efforts, it is the entire process that matters, from education of the community to choosing the right product for the market, to promoting stewardship into the future. Commonweal Conservancy’s case exemplifies this process.

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