Company OverviewThe reurbanization of our cities and the urbanization of our suburbs represents a fundamental shift in the American landscape. In essence, the era of relentless sprawl is over and a new era of reurbanization has emerged.
According to founder and CEO, Patrick Callahan, seven distinct facets of change will redefine our country's real estate during this period.
- Transportation investments
- Energy Costs
- Environmental conservation
- Demand for convenience
- Construction Management
- Desire for community
- Demographic shifts
The power of these forces can be seen in the success of Portland's vibrant Pearl District and its streetcar line, the dramatic resurgence of Bellevue's office market from 2004 and 2008, the boom in residential development in downtown Seattle, and the burgeoning popularity of downtown Denver and its rail transit system.
Any one of these forces has the power to change the landscape. When viewed together, it's clear that our world is changing.
For example, over the last 20 years, the central city in most US metropolitan regions has increased its market share of new residential building permits. Portland, Oregon has gone from 9% in the early 1990's to 22% in the early part of this decade. Seattle, Washington has gone from 11% to 18%. See EPA report.
What does this mean for the real estate owner and investor?