Using the 15-year-old transformation of Rockville, MD's mall-centered downtown to a mixed-use town square as an example, the real estate industry sees the suburban-to-urban lifestyle change spreading across much of the country.
Reuters suggests that the change will be hastened by the aging baby boomers that seek a more walkable environment with urban amenities that are not available in much of 1950s-suburbia. In addition, it will be profitable for urban developers as home-seekers will pay a premium for these residences.
"Rockville (MD)'s renaissance over the past four years shows how the shift toward urban-style living has reached the suburbs. And urban planners insist the trend has legs."
"The unexpected revival of a number of cities, from Rockville to Sacramento, stands in contrast to plunging home prices in the suburbs. "America is catching on to this trend," said Peter Calthorpe, who co-founded the Congress for the New Urbanism in 1993 to create alternatives to the conventional suburb."
Thanks to Climate Plan
Read the full story: Special Report: Smart Money in Real Estate Is on Smart Growth
Planetizen Federal Action Tracker
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FREE Course: Walkable City 1: Why Walkability?
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City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority