A city's pedestrian-friendliness impacts its economy, according to a report done by Christopher Leinberger and Patrick Lynch of the Center for Real Estate and Urban Analysis at George Washington University School of Business.
According to the report, walkable communities have a higher GDP, greater wealth and higher percentages of college grads (see table below). Moreover, there is a “74 premium in rent per square foot in office buildings in walkable areas.”
And the report is not only talking about cities. According to Leinberger, the traditional dichotomy of “walkable urban” and “drivable suburban” is falling out of use. Many urban areas are car-oriented and many suburbs are developing into walker-friendly spaces.
Currently, the top five cities based on the percentage of their "WalkUPs" (walkable urban places) from the total metro area and population are Washington, D.C., New York, Boston, San Francisco, and Chicago.
Click here to read the whole report and learn more.
Screenshots from Foot Traffic Ahead report
© The George Washington University School of Business 2014
Related Stories
| Jul 21, 2014
Commercial real estate development growing at strongest pace since recovery began: NAIOP report
Industrial, warehousing, office, and retail sectors see strong gains; Texas leads the nation in construction-value stats.
| Jul 21, 2014
Economists ponder uneven recovery, weigh benefits of big infrastructure [2014 Giants 300 Report]
According to expert forecasters, multifamily projects, the Panama Canal expansion, and the petroleum industry’s “shale gale” could be saving graces for commercial AEC firms seeking growth opportunities in an economy that’s provided its share of recent disappointments.
| Jul 21, 2014
Workplace trends survey reveals generational patterns in office use
Data analysis from Mancini•Duffy indicates significant variations among age cohorts in the workplace.
| Jul 20, 2014
IPD contract saves time and money for cancer center [2014 Building Team Awards]
Partners share the risk and reward of extreme collaboration on this LEED Silver project, which relies heavily on Lean principles.
| Jul 20, 2014
Why every major U.S. city should be nurturing ‘Innovation Hubs’
Today, more than ever, tech districts are the key to economic growth for metro markets. A new report from the Brookings Institution calls tech hubs the superchargers of innovation economies and creators of highly coveted tech jobs.
| Jul 18, 2014
Contractors warm up to new technologies, invent new management schemes [2014 Giants 300 Report]
“UAV.” “LATISTA.” “CMST.” If BD+C Giants 300 contractors have anything to say about it, these new terms may someday be as well known as “BIM” or “LEED.” Here’s a sampling of what Giant GCs and CMs are doing by way of technological and managerial innovation.
| Jul 18, 2014
Top Construction Management Firms [2014 Giants 300 Report]
Jacobs, Barton Malow, Hill International top Building Design+Construction's 2014 ranking of the largest construction management and project management firms in the United States.
| Jul 18, 2014
Top Contractors [2014 Giants 300 Report]
Turner, Whiting-Turner, Skanska top Building Design+Construction's 2014 ranking of the largest contractors in the United States.
| Jul 18, 2014
Engineering firms look to bolster growth through new services, technology [2014 Giants 300 Report]
Following solid revenue growth in 2013, the majority of U.S.-based engineering and engineering/architecture firms expect more of the same this year, according to BD+C’s 2014 Giants 300 report.