A short analysis about urban living trends from CoolTown Studios.
Downtowns continue to grow. Young professionals and small families are rediscovering the richness of activities and culture in downtowns, such as in Tampa where are 1000 downtown residential units underway. The City of Anaheim is looking to transform 807 acres of warehouses and parking lots around Angel Stadium into an urban village of 9000 homes (see image).
Interiors become a priority for self-expression. Older working professionals and retirees with discretionary income want beautiful buildings on the outside, but want simple interiors to customize to their needs and lifestyles. The younger set without the savings just want the latter, helping fuel the immense popularity of Target and Ikea.
This is one of the top reasons why urban living is a trend.
Urban dwellers are looking for social interaction. Not only are third places, parks and streets vital for public meet-ups, but within the homes as well. Open-plan homes that allow a wide mix of activities with places for people to gather, with connected multipurpose spaces that provide greater flexibility and a more casual environment, are selling fastest.
I want to add another reason to their list: Urban dwellers are looking for easy access to transportation.
In Greater DC, that means live close to the Metro, or any other means of mass transportation, i.e. buses. That's why new condos are popping up around Metro stations. Arlington County even promote the use of car sharing services such as Zip car and Flex car.
Access to transportation is the most important reason for buyers when looking for places to live, especially in this local market.
