Posted on 4/24/2018 by Paula Squires at Virginia Business
Attention commercial real estate developers: a project’s walk score will be the new barometer for future success.
As major markets in the U.S. shift from a car-dependent, sub-urbanism model to what is known as walkable urbanism, the ability to meet one’s daily needs by walking to an office, restaurant or store will rank high in a project’s popularity and its price premiums.
That was the key message delivered by Christopher B. Leinberger Tuesday, the keynote speaker for the 9th annual Commercial Real Estate Forum sponsored by Commonwealth Commercial Partners at the Westin Hotel in Richmond.
Nearly 400 people turned out to hear Leinberger, a professor, real estate developer, researcher and advocate of urban, mixed-use and mixed-income development.