Walkable Towns Appealing, Good for Economy

NJTV NEWS - By Briana Vannozzi  -  Correspondent

All you have to do is look at the value per square foot of a Jersey City condo. Compare it to the McMansions sprawling the outskirts of a New Jersey suburb. For the first time in at least half a century, walkable towns — particularly urban — are gaining market share over their counterparts.

“I think it really appeals to everybody. It’s appealing to millennials right now because frankly a lot of millennials grew up in the suburbs and said, ‘Well, this is boring’ or ‘This isn’t the kind of life that I want.’ They’re finding that it doesn’t just mean living in New York City, and it doesn’t just mean living in the largest city. Walkable urbanism can happen in the context of anywhere,” said Michael Rodriguez, director of research for the Center for Real Estate and Urban Analysis at George Washington University.

As housing and lifestyle preferences shift, George Washington University’s Center for Real Estate and Urban Analysis is tracking the trend toward urban walkable places, reshaping the landscape.

“We found 149 walkable urban places. Thirty-one of them are in New Jersey. New Jersey is doing well in walkability, but they need to do better. And I think some places are getting it,” Rodriguez said.

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