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
| Oct 20, 2011
UNT receives nation’s first LEED Platinum designation for collegiate stadium
Apogee Stadium will achieve another first in December with the completion of three wind turbines that will feed the electrical grid that powers the stadium.
| Oct 20, 2011
Process leads to new design values for southern pine and other visually graded dimension lumber
A summary of the process used to develop new design values will clarify many of the questions received by the SFPA.
| Oct 20, 2011
Johnson Controls appoints Wojciechowski to lead real estate and facilities management business for Global Technology sector
Wojciechowski will be responsible for leading the continued growth of the technology vertical market, while building on the expertise the company has developed serving multinational technology companies.
| Oct 20, 2011
Stellar hires Navy veteran Taylor as vice president
Stellar’s federal experience includes military exchanges (large retail stores on military bases), lodging facilities for military personnel, fuel stations, youth activities centers and recreational centers.
| Oct 19, 2011
THOUGHT LEADER: Samuel S. Unger, RA, MCR, SLCR, MBA, is the Americas Real Estate Leader for Ernst & Young, LLP
Samuel S. Unger, RA, MCR, SLCR, MBA, is the Americas Real Estate Leader for Ernst & Young, LLP, Atlanta. He also serves as president of the CoreNet Global Atlanta chapter. In addition to managing 6.8 million square feet of real estate in North and South America, his responsibilities include real estate strategy for area practices, management of external professional alliances, requirements definition, business case development and approval, real estate negotiation and lease development, and oversight of construction projects for the portfolio. He holds a bachelor’s degree from Harvard College, an MLA and MArch from the University of Pennsylvania, and an MBA from Temple University.
| Oct 19, 2011
Another drop for Architecture Billings Index
Positive conditions seen last month were more of an aberration.
| Oct 19, 2011
System for installing grease duct enclosures achieves UL listing
Updated installation results in 33% space savings.
| Oct 18, 2011
Michel Bruneau wins 2012 AISC T.R. Higgins Award
The AISC T.R. Higgins Lectureship Award is presented annually by the American Institute of Steel Construction (AISC) and recognizes an outstanding lecturer and author whose technical paper(s) are considered an outstanding contribution to the engineering literature on fabricated structural steel.