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
| May 31, 2013
GIS should guide zoning decisions in states hit hard by Hurricane Sandy, says expert
As New York, New Jersey and other states hit hard during Superstorm Sandy begin their long road to recovery, the decisions they make on how to rebuild are crucial to determining how well they will weather the next big storm.
| May 31, 2013
Bond package to fund $2.7 billion in new university construction dies in Texas Legislature
A $2.7 billion state bond package that would have financed expansion projects at more than a half-dozen universities in Texas died on the final day of the legislative session.
| May 31, 2013
Tax break proposal for $1.5 billion expansion of Minnesota’s Mall of America advances
The Minnesota Legislature approved tax breaks worth $250 million for a $1.5 billion project that would double the size of the Mall of America in Bloomington, Minn.
| May 31, 2013
Debate in the Northwest over how to apply lessons of net-zero construction in codes
Success in constructing net-zero homes in the Northwest has sparked debate over how far green codes should go.
| May 28, 2013
Fire Chiefs Assn., IBHS call for federal legislation to encourage states to adopt, enforce building codes
The International Association of Fire Chiefs (IAFC) and the Insurance Institute for Business & Home Safety (IBHS) are asking Congress to enact the Safe Building Code Incentive Act (SBCIA), which provides financial incentives for states to adopt and enforce building codes.
| May 28, 2013
Proposal to water down Las Vegas green building code draws criticism
A proposed bill before the Las Vegas City Council would allow any building built before 2009 undergoing a renovation to only have to meet the energy code requirements at the time of initial construction, not the current, stricter guidelines.
| May 28, 2013
Mazria: ‘No need for new power plants to meet growth in buildings sector’
A new analysis of federal data shows that the U.S. buildings sector has made enormous strides in efficiency over the last six years—potentially eliminating the need to build any new power plants to support growth in the sector through 2030.
| May 27, 2013
Support increasing in Ontario to change codes to allow taller wood frame construction
Developers and home builders are asking the Ontario government to change the building code to allow construction of six-story wood frame buildings.
| May 27, 2013
'JUST' label aims to assess social justice on building material manufacturers
At the Living Future's annual conference in May, Jason McLennan, and architecture firm BNIM founder Bob Berkebile launched the JUST label, an extension of the Declare label that addresses social justice and equity issues.
| May 27, 2013
Bipartisan legislation filed to revamp EPA lead rule
Bipartisan legislation has been introduced in the U.S. House of Representatives to reform the Environmental Protection Agency's (EPA) Lead: Renovation, Repair and Painting (LRRP) Rule.