The Obama administration and the Federal Aviation Administration have partnered to create a grant program that benefits the Stowe real estate market. These grants, known as the Airport Improvement Program (AIP), help make public airports more accessible so that they thrive and benefit its surrounding community. This stewardship of our local airports boosts Vermont real estate which enhances communities.
The grant program has helped other communities and has been shown to benefit their business climates and real estate markets premarin generic. When FAA grant money is allocated, the airport uses the money to fix, extend and relocate runways, shore up safety on the runway and other elements to improve conditions. By upgrading airport conditions, traffic is increased, which increases revenue and travel to the area.
This creates a trickle down effect, since travelers spend money in hotels, restaurants and other businesses, which only helps the economy. Stowe real estate is the benefactor in this situation, because both residential and commercial properties will be built in ideal areas for people to take advantage of. As the financial climate in Stowe improves, the real estate market will also improve.
Stowe is close to Morris-Stowe State Airport, which creates ample opportunity for building and expansion in the area. The first step with taking advantage of an FAA airport improvement grant would be to expand upon the surrounding area. For instance, those who fly into the area will want to be as close as possible to restaurants, hotels, rental businesses and public transportation. In order to get the most out of an airport, a locality will need to keep up with the influx of traffic it wants to create, while having the infrastructure to support it. Since Stowe is close to this increase in traffic and business, it becomes ideal.
Bottom line, people want to live near areas with attractions and events to take advantage of. Stowe real estate companies will not only build businesses in the growing areas, but will create residential developments. In growing areas like these, condominiums are popular choices. Also, starter homes attract young professionals looking to own property and spread their wings. The more money that is placed into building the airport, the more effect it will have on the surrounding area.
In terms of price, living in an up-and-coming area will likely drive up the cost depending on how close you live to the new developments. However, Vermont real estate agents often create areas with lower price tags to draw in a more diverse sector of people, which in turn benefits the demographics of the area. FAA grants are intended to not only improve airports, but improve areas. It allows localities to act as ambassadors and good stewards to their airport, while giving the airport and its surrounding area the tools needed to improve the locality. These grants are intended to improve the landscape of airport cities all over the United States, which in turn creates jobs, improves areas and benefits real estate. An airport improvement grant would create a more diverse Stowe real estate market in both the commercial and residential sectors.