As stated in this article by Smart Growth America for the first time in 60 years walkable urban places (and yes, there is a short form, they are called “WALK UPs) are gaining market share value over drivable suburban competition.
Imagine-there is a correlation between the 619 urban walkable places in 30 of the largest American cities and the fact that the residents there are the most educated, wealthy and most socially equitable. The six most walkable metropolitan areas are New York City, Washington D.C., Boston, Chicago, San Francisco, and Seattle.
Walkable urban offices, retail and rental multi-family housing have a 74 per cent rental premium over drivable suburban locations.
This is good news for Metropolitan Vancouver that has had a regional growth policy of supporting city centres and transit throughout the region. The trend to create walkable urban places is in tune with many of the municipalities’ policy directions, as in the case of the walkable City of Surrey new town centre.
The full report of Foot Traffic Ahead 2016 is available in a downloadable version here.