Strong Central Cities
Smart growth begins by encouraging strong central cities, where the highest exchange of commerce and culture takes place. In the city, economies of scale bring competitive advantage to a critical mass. To succeed, central cities need attractive housing for both affordable and upscale markets, nearby shopping, ample recreation and entertainment, personal security, good schools, access to transportation other than cars, and a diversified tax base.
Emerging Trends in Real Estate notes that the U.S. “markets to watch” for metropolitan real estate investment are San Francisco, Boston, Seattle, New York, and Chicago, all of which have diversified, strong urban cores and established, thriving neighborhoods. The Center on Urban and Metropolitan Policy of the Brookings Insititution predicts that downtown living will rise substantially in 19 of 20 large cities by 2010. Houston’s downtown population is growing faster than that of any other city in the U.S.
Smart growth points to a changing demographic. The once-typical family of a married couple with children now accounts for only 26 percent of households, down from 40 percent a generation ago. Buyers are getting older, with fully a third of the market now over the age of 45. In this market, many prospective buyers say they will move to smaller houses with smaller yards. Many more mature buyers are looking for low maintenance homes with nearby or car-free access to services and cultural amenities. The emphasis is on convenience and accessibility.
Smart growth invests time, attention, and resources to restore community and vitality to central cities and older suburbs and to encourage more town-centered and transit- and pedestrian-oriented new development.
The terms “smart growth” and “livable community” are enjoying non-partisan support throughout the country as planners realize that the quality of life can be greatly enhanced in America through smart growth principles. (Next Section)
Economy, Community, Environment
Smart Growth Trends
Strong Central Cities
Mobility and Land Use
Clusters
Community & Place: Revitalizing Neighborhoods
Greenspace and Natural Resources
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