The Next Major Real Estate Cycle: Walkable Urbanism? – The Atlantic Cities
September 19, 2012 Leave a comment
Emily Badger brings us this post on walkable urbanism in Metro Washington. Christopher Leinberger, author, professor and real estate developer, has said that walkable urbanism has moved from a niche market to the real estate market. These places make up less than 1% of Washington’s land area, but contain 34% of the jobs, and are gaining market share. Leinberger argues that we don’t need to add any land area to the metro, we just need to densify what is already there. Near half of office and residential development in the metro are being developed in walkable areas, and hopefully retail will catch up when the large retailers figure out how to fit into a smaller footprint. Leinberger says that the biggest impediment to walkable urban growth are real estate developers who are entrenched in the suburban model. They are unable or unwilling to change, despite all the information pointing to the shift all across the country. But those developers who will make the shift will create better places for everyone.