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www.metrotimes.com: Royal Oak residents worry cannabis shops will lower property values, but studies show they could get higher

Read Full Article Here: https://www.metrotimes.com/detroit/royal-oak-residents-worry-cannabis-shops-will-lower-property-values-but-studies-show-they-could-get-higher/Content?oid=24949633

click to enlarge Lee DeVitoRoyal Oak is considering allowing recreational marijuana stores along Woodward Avenue.

Others said they think the stores should be located in light industrial zones or downtown, near the police station.

Many requested the commission postpone the vote until after the coronavirus pandemic ends, so a safe public forum could be held and people could ask questions.Some even threatened to move if the proposal goes through, saying they were worried that their property values would drop.However, a number of studies suggest recreational marijuana businesses could actually raise property values.

2018 study from the University of Mississippi found that that simply legalizing recreational marijuana in Colorado increased housing values by about 6%.

Anyway, any loitering (and aromas) that marijuana businesses would bring to Royal Oak would be no match for the Dream Cruise

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