Market Insights - The Value of "Place"

New Trends in Master Planned Communities
With the increased urbanization of the suburban marketplace, master planned communities are changing the way we live and what we have come to expect from developers and land planners. In the past few years, new trends have emerged in the planning and development of MPCs. In an article published in American Demographics Magazine, five key issues surfaced in analyzing the great communities of the new millennium.

Sense of Place – The “there” factor
Suburban sprawl has traditionally dominated the landscape of many communities outside large cities. However, not all of them offered an infrastructure of amenities that enable residents to engage. These are the places that people pass off as having no “there” factor or an element that says “this is where I want to be.”

Today’s developers are spending more time on creating a sense of place to increase quality of life. Much of this is accomplished through an integrated amenities and community programming plan, which combines recreation, open space, outdoor activities, and innovative neighborhood events. With more and more professionals working from home or in nearby suburban office complexes, residents are seeking self contained, livable communities that value more time with family and less time on the go.

New Urbanism – Drawing from the best of both
The concept of new urbanism is a growing trend in MPCs, particularly those centered close to large cities undergoing urban revitalization. It’s a model of development that combines the best features of urbanism and suburban development. Communities are now emphasizing the importance of accommodating the car but also walkability. More and more buyers are willing to sacrifice larger home sites for more, improved amenities as long as value is understood.

Town Centers – The gathering place
Building on the idea of creating self-contained communities, retail and mixed-use facilities have emerged in some large-scaled MPCs. As more and more people attempt to avoid the congestion that plagues suburban sprawl, the concept of town centers fulfills some of the everyday needs of residents without the inconvenience of using other transit means. Whether a town center or civic space having a central gathering spot conjures the feelings of comfort, familiarity, security and a sense of family. All of which are what the average buyer is looking for.

Market Segments – Addressing today’s household diversity
The result of offering more varied housing choices addresses the diversity of households currently found in MPC’s. Communities that once catered exclusively to young families with school-aged children must now cater to a broader spectrum of buyers, including residents who are “aging in place” – today’s boomers and retired populations. A more diverse community also helps to break the stereotype of master planned communities as homogeneous suburbia.

Green Building – The consciousness grows
Green building is more than a designation or building technicalities, for the public it represents a commitment to our surroundings, the future and that of our children. According to this article, over 78% of people feel they are contributing to the well being of their community by supporting and living in green environments. This is especially true of people aged 35 years or younger. A growing number of cities and counties are mandating new legislation to require stricter codes for environmental sensitivity.