After an historic 14-year boom in the housing industry in which neighborhoods
and retail centers leapt from our landscape, the growth corridors have reached
the height of success. Yet, Property Advisors challenges the developers
of these
growth corridors to look 10-15 years ahead to ensure that their decisions
made today will be sustainable tomorrow. The obvious danger
lies in history; that these growth corridors will also face the same challenges
the urban edge markets experience today – high concentration of housing, declining
quality of office and retail, low tax base and high infrastructure needs.
We work with our clients and partners to help them understand their community options for continued vitality and growth. We recommend thoughtful, programmed design that allows for a more densely designed housing environment with mixed use options available within walking distance to the home. We counsel our clients to ensure that their high rate of growth does not compromise the environmental strengths of their community. Although space may be plentiful, Property Advisors views a Greenfield as an opportunity to be a sustainable, walk-able area with more options to live, work and play.
Often, the sustainability of success and the maintenance of a tax base is a major concern in growth communities. Where some view growth among neighboring communities as a threat, we at Property Advisors consider it an opportunity. There is strength in numbers. We have noted that any lone suburban area will typically struggle to receive state financing (e.g., TIF, RID, JEDD, or TID bonds) or Federal dollars (e.g., Community Development Block Grant). Yet, when communities join together, regional funding and regional efficiency can be key to long term sustainability. When requesting state and federal funding, we have seen that regions are stronger than any one individual municipality.
We have made it a priority to help disconnected neighborhoods or municipalities view themselves as one community, whether that exists along a transportation corridor, geographic placemaking opportunity, or in communities with similar household demographics and psychographics.