Lakeshore Trail signs to tell the story of Muskegon Lake restoration

Lakeshore Trail signs to tell the story of Muskegon Lake restoration | MLive.com
One sign will try to convey the economic importance of the work as lakefront improvements will increase property values and draw more people to Muskegon for recreation.
A Grand Valley State University study showed that over the next decade the $10 million grant will generate at least $66 million in benefits to the community.
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Isely’s GVSU economic benefit study looked at housing values, recreational values and the value placed on the improved shoreline.
As for house values, Isely looked at residences located 300 feet to 2,600 feet from the shoreline improvements.
The closer a house was to a natural shoreline and the further it was from hardened industrial shoreline, the higher the home’s value.
When considering all factors that determine the value of a house, the improved nearby shoreline added $3,000 to $5,000 in value to many houses over time, the economist concluded.
The study included a survey of those in the adjacent neighborhoods and of people throughout Muskegon County.
Isely found the annual home value increases — especially in the adjacent homes in the city’s Nims and Lakeside neighborhoods — was $11.9 million.
The recreational value of the lake in terms of fishing, swimming and aesthetics, and the increased visitors coming due to the improvements, was calculated to add $1 million of new tourism spending each year.