The New Market For Suburban Builders: Downtown

Large suburban developers are increasingly moving into blighted and urban properties.
October 13, 2004, 7am PDT | Chris Steins | @urbaninsight
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Faced with a "land scarcity in the 'burbs that threatens to crimp their growth" large suburban developers like KBHome, Lennar, and Toll Brothers Inc., "are suddenly making a reverse commute of their own by gobbling up urban properties at a fevered pace."

While the "downtown market is fraught with challenges for the suburban builders -- including strict zoning requirements and environmental cleanups of some industrial properties, as well as land and construction costs that are far higher than what they're used to in the suburbs... for suburban builders who get it right... the urban market can yield profits every bit as fat as what they make in suburbia."

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Thanks to The Practice of New Urbanism

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Published on Monday, September 20, 2004 in Business Week
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