Subdivisions go urban as housing market changes

Changing demographics and shifting consumer demands have deeply impacted the real estate market, causing developers to put a greater emphasis than ever before on the creation of smart growth neighborhoods within easy distance to jobs, shops and schools. From millenials to baby-boomers, Americans are moving away from large-lot suburban housing and looking to take up … Continued

LOCUS Uncategorized

Walkable communities in demand, will lead housing market recovery new report finds

The U.S. housing market has begun to recover, and homes with amenities within walking distance will be those most in demand in coming years, according to a new report from the Demand Institute, a division of the U.S. Conference Board.

The Shifting Nature of U.S. Housing Demand, released May 15, examines the state of the U.S. housing market and the new trends emerging as real estate prices begin to recover from the recession.

Notably, the report predicts that areas with homes within walking distance of amenities and public transportation will recover more quickly and more strongly than those without these features. The report authors refer to these communities as “Resilient Walkables”:

About 15 percent of the population lives in this segment, which comprises populous urban or semi-urban communities well served by local amenities. House prices here fell by less than the national average between 2006 and 2011, in some cases by much less. The same is true of local employment…These localities will be the first to recover. We expect house prices here to rise by an average of 3 percent in 2013, and by up to 5 percent a year between 2014 and 2017.

LOCUS

New Poll Indicates National Support for Complete Streets

A new poll released by America Bikes yesterday is a telling indicator that Americans support Complete Streets — over 80% of respondents, in communities large and small, would like to see federal funding for bicycling and walking maintained or increased. These findings are consistent with other state and local polls that have shown American citizens want streets that work for everyone.

Complete Streets

Chicago Metropolitan Agency for Planning Highlights Five Cook County Communities in New Report

The Chicago Metropolitan Agency for Planning (CMAP), in partnership with the Metropolitan Planning Council and the Metropolitan Mayors Caucus, has released a new report, Homes for a Changing Region, highlighting the work of five communities in West Cook County. These communities received Community Challenge grants from the Department of Housing and Urban Development (HUD). The report will provide housing supply and workforce data that will help the communities plan and acquire property for future affordable housing and mixed-use developments.

Uncategorized

Smart Growth Stories: City Councilmember Tommy Wells on creating great neighborhoods in Washington DC

Washington, DC’s neighborhoods have seen a huge resurgence in recent years, and nowhere in the city is this more visible than DC’s Ward 6.

Stretching from just north of Union Station south across Capitol Hill and down to the Anacostia River, Ward 6 has seen incredible neighborhood growth over the past decade. Neighborhoods like H Street Northeast – with indie music venues, hipster bars and avant garde restaurants – on the north side of Capitol Hill, and Barracks Row – with art galleries and fine dining – on the south side have been steadily gathering new residents and new businesses. Both are in Ward 6.

DC City Councilmember Tommy Wells represents Ward 6, and he has made neighborhoods the focus of his work.

“Great neighborhoods are not necessarily what we thought they were,” Wells says. “We used to think we divided ourselves in sections…you put schools over here, housing over here, stores over here. And what we found was that in order to get anywhere and to do anything, you had to get in your car…And the more that we lived in our cars and in this sort of a sectional, stove-piped community, the more we didn’t see each other.”

Local Leaders Council Uncategorized

In New Brunswick, one development tackles multiple community needs

When Smart Growth America’s coalition partner New Jersey Future announced its 2012 Smart Growth Award winners in April, it was no surprise that New Brunswick’s Gateway Transit Village received the award for Transit-Oriented Development Partnership.

The Gateway Transit Village is a new development in downtown New Brunswick that includes parking, retail, office and residential space. Located across from the train station, the development encourages transit ridership and makes it easier for the building’s residents to get around without using a car.

“The Gateway project stood out because it satisfies so many of the requirements for a smart growth project,” says Peter Kasabach, executive director of New Jersey Future. “Gateway provides direct access to transit for both commuters and students at neighboring Rutgers University, and serves multiple purposes with retail, parking and residential space for both renting and ownership.”

“In this particular case, Gateway was able to accommodate the broadest range of interested parties with differing needs,” Kasabach says. “The project was successful because it took advantage of community partnerships and creative financing to meet these needs.”

The New Brunswick Development Corporation (Devco), a nonprofit real estate company, helped get this complex project off the ground. Tasked with revitalizing New Brunswick’s transit corridor, Devco saw a specific under-utilized piece of land directly next to the train station as a key property for redevelopment.

Uncategorized

Partnership in the News: HUD and Efficiency Maine Launch PowerSaver Loan Program

The Federal Housing Administration (FHA) recently began a pilot program for “PowerSaver”, a new loan that will allow Maine homeowners to borrow up to $25,000 to make energy improvements. These improvements will be based on a list of proven measures developed by FHA and the Department of Energy (DOE) that will make weatherization and comfort improvements easy and affordable across the state.

Uncategorized

Spotlight on Sustainability: Denver, CO

In the areas of Denver surrounding the South Platte River, industrial buildings, coal-fired power plants, and blighted communities contrast with newer greenspace, trails, natural spaces and emerging mixed use developments. Over the past few decades, efforts at revitalization have made major progress in creating more walkable and recreational spaces, as well as cleaning up the river itself. But many of the surrounding neighborhoods and industrial areas are still disadvantaged, isolated, and underutilized. The City of Denver is now conducting a study to identify opportunities to spur economic development and revitalization in these communities.

Uncategorized