The Trend Towards Urbanism
After decades of idealizing the concept of leaving the hustle and bustle of city life to live in favor of a slower, more austere life in the country, there is a definite trend back towards city living. Throughout the country, cities are experience a surge in popularity, as both housing and commercial developers alike increasingly focus on making densely populated areas more convenient and family friendly. Cities and walkable neighborhoods provide a large diversity of experiences for residents, as well as the convenience of being able to walk to where you live, work, and play. Whether you are interested in buying a home or investing in a commercial property, the trend towards urban development is definitely something to consider.
What is the ‘New Urbanism’?
The Congress for the New Urbanism (CNU) is an international non-profit organization that works to promote the development of viable, diverse, and resident friendly urban communities. The group helps to support efforts to revitalize city neighborhoods throughout the country, converting crumbling facades and blighted industrial areas into thriving, livable communities. A classic example of this new urbanism is Melrose Place, a 30-block urban development project in the Bronx and a CNU Charter Award nominee. According to CNU, Melrose Place fulfils the principles of new urbanism through the following:
- Livable streets arranged in easy to navigate, walkable blocks;
- A variety of housing choices which support diversity;
- Offering affordable housing for buyers;
- Including mixed use design elements; and
- Incorporating community spaces to add to the overall quality of life.
The effect of new urbanism on this area of the Bronx is dramatic, transforming it from deterioration and urban blight into a revitalized, historic neighborhood that is now a desirable place for both families and singles to live.
The Advantages of Urbanism
According to a November 2015 Real Estate Weekly article on new urbanism, the trend towards urbanism is supporting New York housing prices and attracting increasing numbers of people to the city. Buildings that once housed commercial spaces are being transformed by developers into apartments and condominiums that are selling fast. While many properties within the city come with a hefty price tag, a surge in world class corporations and technology companies are luring employees with higher incomes, while efforts continue to also establish more affordable housing in order to support a broad workface. This is good news in general for neighborhoods, meaning increased gentrification, increases in public works, and additional money for law enforcement and public safety.
Contact Our Experienced Real Estate Attorneys
Whether you are looking to buy or sell a home or are interested in investing in commercial property, contact Cavallo & Cavallo. No one knows the city life our experienced New York real estate attorneys. We understand the market, and can help you to choose the right property to satisfy your needs. We can guide you through every step of the home buying, selling, and investment process, ensuring both your assets and investments are protected. With offices in the Bronx and Westchester, we are your neighborhood law firm, providing efficient and effective legal service to handle all your real estate needs.