Recession Success Story: Walkable Commercial Areas
New data show the resilience of walkable commercial areas through the recent recession. Parking minimums, however, prevent new projects from taking advantage of the strengths of such development patterns.
"Neighborhood walkability has been a huge asset for commercial landlords during the recovery from the 2008 recession," reports Matthew Yglesias using a dataset from Moody's and Real Capital Analytics that breaks down commercial real estate prices by WalkScore.
From an infographic created for the dataset, Yglesias produces the following conclusion: "whether it's in suburbs or in central business districts, prices have rebounded from the recession much more strongly in walkable areas than in car-dependent ones…"
As for why that might be, Yglesias argues that car-based retail has suffered the impacts of online retail services like Amazon. "Bars, restaurants, and homey shops that don't compete directly with Amazon work better in walkable areas."
Published on Tuesday, April 7, 2015 in
Topics
- Cities Are Suddenly a Little Less Car-Centric
- Kanye West Makes More Permitting Trouble in Chicago
- Pandemic a Call to Arms for Planners
- 1,000-Plus Mixed-Income Units Planned in Miami
- 'Ramps to Nowhere' Will Come Down in Seattle as New Debates Heat Up
- Berkeley Could Redefine the Al Fresco Streets Movement
- History in the Making: BART Extension into San Jose Ready for June Opening
- What Surveys Say About Generation Z
- Proposed Mass Timber High-Rise In Seattle Adds Six Stories
- Electric Bike Sales Explode as Cities Rethink Streetscapes
- Commercial Rental Market Teeters on the Brink
- New Coronavirus Hotspots Flaring Up in Rural America
- Scooter Revenue, Empty Streets Allow for Quick Construction of Bike Lane in L.A.
- Nursing Homes With Black and Latino Residents Have Much Worse Covid-19 Rates
- California's Population Might Be Peaking
- Study: 36,000 American Lives Would Have Been Saved if White House Acted One Week Earlier
- Criticism for Transportation Spending in House-Approved $3 Trillion Relief Bill
- Louisiana Coast Will Disappear, Study Says. The Only Question Is How Soon.
- NACTO Releases Pandemic Streets Design Guide
- Overcoming the Obstacles to Congestion Pricing
