Towns move back to the concept of a walkable multiuse town center.
Demographic shifts and changing values will increase demand for pedestrian-friendly, mixed-use communities in both urban and suburban settings, according to John McIlwain of the Urban Land Institute. “The age of suburbanization and growing homeownership is over,” McIlwain said in a recent report, “Housing in America: The Next Decade.” “The coming decades will be the time of the great reurbanization as 24/7 central cities grow and suburbs around the country are redeveloped with new or revived walkable suburban town centers.” This transition will be fueled by the growth of two-person households, an end to baby boomers’ suburban infatuation, and public policies designed to stimulate compact development. In his report, McIlwain points to four key demographic trends to watch going forward:
Continue reading… “4 Key Demographic Trends with the Housing Demand”