07 Dec A New Theme for Master Planned Communities
Since the Great Recession there has been a new era in real estate development, an industry that suffered some of the downturn’s most severe effects. Builder Online reports that a new theme has emerged in master planned communities: connectivity.
No, not digital connectivity. That’s sort of a given in today’s society! Modern buyers seem to be most interested in literal connectivity: with their community, between home and work, with the environment and with family. How can developers attend to this new shift in importance?
Connected master planned communities differ from their predecessors primarily in their infrastructure, which is designed for walkability, bike trails, and convenient access to work, shopping, and transportation.
Builders and developers are looking at “the 5-minute rule”—putting shopping, schools, and outdoor recreation within walking or biking distance—while also opening two-way links to the nearby cities and neighborhoods.
Communities of the past had to focus on selling views, water or golf. Today they must establish the value of new urbanism. Connectivity is the key. Successful communities must offer not only great home designs but a great place to live. People are looking for experiences over amenities.
These trends are being driven by both millennial and baby boomer preferences and are turning the gated community model on its head. Connected communities actively seek visitors from surrounding communities and offer farmer’s markets, workshops, concerts, festivals and community gardens.
image courtesy of freedigitalphotos.net