New research from a George Washington University research group and LOCUS, a coalition of real estate investors that's part of Smart Growth America,says that offices in “Walkable Urban Places (WalkUPs)” bring developers 74% more rent per square foot.
The study, “Foot Traffic Ahead: Ranking Walkable Urbanism in America’s Largest Metros,” also found that areas that rank high for walkable development average 38% higher GDP than lower-ranking communities.
The researchers say that the increase in demand for pedestrian-friendly office buildings is part of a societal shift. “The last time we saw a structural change like this was back in the ’40s and ’50s,” said Christopher Leinberger, one of the authors of the report. “It’s going to take 20 to 30 years to catch up with pent-up demand.”
The study ranks the top 30 U.S. metro areas for their levels of walkable urbanism as well as projecting future rankings. It found 558 “WalkUPS” in those areas, defining them as regionally significant major employment centers. In the top 30 metros, WalkUPS take up just 1% percent of the available acreage, but account for as much as 50% of the office, hotel, apartment, and retail square footage.
Walkable urban developments are not as easy to create as the “formula product” that characterizes drivable suburban development, the study’s authors say. That’s due in part to NIMBYism and more complex permitting and review processes required in urban locations.
Related Stories
Codes and Standards | Jul 6, 2015
First valuation advisory for green and high performance property adopted
The document provides voluntary guidance to appraisers on the background and competency necessary to credibly value green buildings.
Codes and Standards | Jun 24, 2015
Maryland’s Prince George County turns to P3s to build green infrastructure
Over the next 10 years, the county must convert 15,000 acres of watertight surfaces—almost 5% of the county's total area—into surfaces that absorb or treat rainwater.
Codes and Standards | Jun 24, 2015
Philadelphia considers more incentives for green building
Developers could be allowed additional height, floor area on projects that meet benchmarks.
Codes and Standards | Jun 24, 2015
LEED building at Duke University may be retrofitted to prevent bird deaths
More birds die from colliding with buildings at Duke than on any other campus in a 45-school survey conducted by Augustana College. Duke is located along the Atlantic Flyway, a bird migration route.
Codes and Standards | Jun 24, 2015
Balcony collapse in Berkeley, Calif., prompts an examination of codes
Dry rot and too much weight appear to be the causes of a fatal accident at an eight-year-old building in Berkeley, Calif.
Codes and Standards | Jun 18, 2015
Guides to wood construction in high wind areas updated
The guides establish prescriptive, wind-resistive structural requirements for wood-frame buildings of different sizes and shapes.
Codes and Standards | Jun 18, 2015
New document addresses school safety and security
In an effort to balance security and fire safety features within codes, standards and planning, NFPA hosted a two-day workshop, “School Safety, Codes and Security”, last December. The findings are now available in an NFPA report.
Codes and Standards | Jun 18, 2015
Two myths regarding NFPA 101 Life Safety Code debunked
NFPA life safety engineer Ron Coté settles the debate over second egress doors and exit signs.
Codes and Standards | Jun 18, 2015
How to prevent corrosion in sprinkler system piping
The technical committees responsible for NFPA 13, Installation of Sprinkler Systems, have been looking at ways to eliminate or reduce corrosion in sprinkler systems for several revision cycles.
Codes and Standards | Jun 11, 2015
Steel Framing Alliance updates ‘Thermal Design and Code Compliance for Cold-Formed Steel Walls’ design guide
Includes results of new tests and addresses IECC and ASHRAE compliance paths.
