race for their country and not their trade teams. Every five years a city outside of Europe is chosen to host the event and Richmond was chosen as the first American city to host since 1986. The Worlds is expected to draw around 6,000 accredited representatives (including 1,000 athletes); 450,000 spectators (55 percent of whom are projected to come from outside Central Virginia); and a television audience of 300 million viewers worldwide. The economic impact is estimated to be $158.1 million—from both event staging and visitor spending—and the event is estimated to generate $5.0 million in state tax revenue. Based on recent World Championship events, Chris Chmura (President, Chief Economist, and Principal of Chmura Economics & Analytics) estimates that over 1,000 journalists, representing 500 media outlets from 35 countries will come to Richmond to cover the competition. In addition to economic stimulation, tax revenue, and media attention, hosting the event promises to leave a legacy of cycling culture with the Greater Richmond region. “The Connect RVA project is a perfect example of the kind of legacy that we had hoped would emerge as a result of hosting the World Championships and a benefit for the entire community for years to come,” said Tim Miller, COO of Richmond 2015, in a press release. Richmond Regional Ride Center (RRRC): The RRRC is a collaborative effort to create a system of trails and onroad bicycle facilities to be designated as a Ride Center by the International Mountain Bicycling Association (IMBA). According to the IMBA, communities designated as a Ride Center are clearly identified as being the best place to go mountain biking, and see an increase in visitors and quality of life for residents through improved opportunities for outdoor recreation. The IMBA promotes designated Ride Centers through its multimedia communications. There are currently only 17 Ride Centers worldwide. The RRRC is working to rehabilitate 15 miles of existing mountain bike trail at Pocahontas State Park and construct an additional 20 miles, to provide more than 70 collective miles of off-road cycling between Pocahontas and the existing world-class trails in the James River Park System. The RRRC would be the first Ride Center located in an urban environment, and uniquely plans to include facilities that will cater to individuals with disabilities. What does all of this mean for residential real estate in the Richmond region? Higher walk scores. In addition to health and quality of life enhancement for local residents, developing designated areas for biking and walking will conceivably raise walk scores for surrounding properties. Walk Score® is a popular tool that provides ratings between 0 and 100 to quantify the walkability of any address. (The lower the score, the more cardependent the property’s residents are likely to be.) It is used by multiple listing services and other real estate information providers to help consumers find a place to live that suits their walkability preferences. Generally, properties with high walk scores are in high demand among homebuyers, and this makes a high walk score a strong selling point. The growing interest and involvement in building infrastructure that will promote increased and diversified mobility within the Richmond region bodes very well for the fitness of its residents and its housing market alike.
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