CDS Community Development Strategies
Who’s right? In my opinion, both. Urban living has definitely become more attractive and prevalent among young people—particularly for singles. And this option is more accessible than ever. You no longer a need to move to NY or SF to find dense, walkable neighborhoods. Most large metropolitan areas have budding if not mature enclaves where urban life is on display. This option is often more expensive, and usually precludes entry-level home ownership. But we’re seeing that once Millennials become established they do decide to buy in these markets.
As for the suburbs, many large scale master planned communities are incorporating new-urbanist design principles, offering town centers, walk and bike paths, and creating interesting places where residents like to linger. These quasi-dense centers offer a taste of the urban lifestyle but also meet the desired requirements of young families, which includes home space, yard space, and good schools.
About the Author: Kent Dussair founded CDS in 1971 for the purpose of providing professional market and economic research and consulting services. With over 50 years of professional experience, Kent continues to provide CDS with valuable insight into how and why local, regional, and national markets are driven.