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ULINT Announces 2019 Vision Award Honoree
PRESS RELEASE | 3.8.19 | ULINT Announces the 2019 Vision Award honoree
March 20, 2019
On Wednesday, April 10th, Brandon Palanker of 3BL Strategies joins Kevin Sheppard, of Verdunity, to discuss the implications of a recent report on the benefits of walkable urbanism in North Texas. They will discuss the findings of a two year study led by Chris Leinberger of The George Washington University, in which Mr. Palanker played a significant role in the research effort.
The WalkUp Wake-Up study demonstrates a clear market shift in DFW, from “driveable sub-urban” development to more “walkable urban” environments (“WalkUps”). WalkUps, characterized by a mix of uses, increased densities and a more compact, walkable environment, produce greater economic output and improved social outcomes as compared with less dense, single use, auto-dependent locations.
The research identified 38 established WalkUps within the DFW Metro region, representing only 0.10 percent of the region’s land mass. However, these places prove to be hubs of economic activity, totaling 12% of the region’s Gross Regional Product (GRP), with job density 112 times greater than the rest of the metro. An additional 17 areas were considered emerging walkups, with 22 considered potential.
The study demonstrates significant price premiums and higher rents for residential and commercial properties that are located within WalkUps, including an 2+ times premium for for-sale housing. For-sale homes located within ½ miles of a WalkUp (even if they were driveable sub-urban), achieved a 71% price premium when compared to non-WalkUp locales, with for-rent apartments totaling a 37% premium.
While the cost of living is higher within these walkable, mixed-use nodes, the research demonstrates improved social equity outcomes due to a decreased cost of housing + transportation and increased access to transit and job centers. As such, the report points out the opportunity for DFW to “do well while doing good” through increased development of existing, emerging and potential WalkUps, which average between 100 and 500 acres in size.
The study discusses a range of potential policy choices that are recommended to yield more WalkUp development, including an emphasis on zoning that makes mixed-use development and greater densities legal; encourages more development at and near train stations in conjunction with investments in transportation alternatives; and community-driven “crowdsourced planning” initiatives that emphasis conscious social equity strategies to overcome local resistance to the development of more walkable, mixed-use neighborhoods that contain a significant multifamily residential component.
Compared to other leading metros such as Atlanta and Washington D.C., DFW shares the overall trend toward more walkable, mixed-use development, however DFW lags behind these region in terms of the overall market that is dedicated to walkable, urban development. DFW still demonstrates that walkable urban development is currently outpacing drivable suburban in terms of market share, by a factor of 2.6.
According to Mr. Palanker “The goal of this report is not to merely point out the clear trend toward walkable urban places. This is, at root, a call to action. Elected officials, civic leaders, and developers, must learn how to undertake place-visioning and place management processes to create and sustain these vibrant neighborhoods that outperform auto-dominated areas from both an economic and social perspective”
— Guest Blogger: Brandon Palanker
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