One of the newest trends to emerge in residential real estate development in recent years is the concept of ‘walkable neighborhoods’ aka “homes located within walking distance of amenities such as schools, parks and shopping”.
Here in the Chico area New Urban Builders has been methodically educating home buyers on the advantages of so-called new urbanism. Doe Mill Neighborhood, built in the early 2000’s near 20th Street and Bruce Road surprised those accustomed to sprawling acre plus ranchettes by quickly selling out block after block of craftsman styled homes on small lots with front porches, narrow streets and almost no yards!
The developers much anticipated Meriam Park Project, on hold until current economic conditions improve, continues the evolution of ‘walkability’, envisioning a “range of housing types, sizes and prices, a mix of civic and commercial uses, and a network of connected slow-speed streets”.
As a fringe benefit to the lifestyle advantages that this sort of neighborhood provides, there is evidence that this type of development will also lead to higher resale home values later on when it comes time to sell. According to Amy Hoak of MarketWatch as reported on MSN.com, homes in walkable neighborhoods are “worth more than homes in neighborhoods where driving is the rule”.
According to a report entitled “Walking the Walk: How Walkability Raises Housing Values in U.S. Cities," which looked at 94,000 real-estate transactions in 15 markets, higher levels of "walkability" were directly linked to higher home values in 13 of the 15.
Here in the Chico area New Urban Builders has been methodically educating home buyers on the advantages of so-called new urbanism. Doe Mill Neighborhood, built in the early 2000’s near 20th Street and Bruce Road surprised those accustomed to sprawling acre plus ranchettes by quickly selling out block after block of craftsman styled homes on small lots with front porches, narrow streets and almost no yards!
The developers much anticipated Meriam Park Project, on hold until current economic conditions improve, continues the evolution of ‘walkability’, envisioning a “range of housing types, sizes and prices, a mix of civic and commercial uses, and a network of connected slow-speed streets”.
As a fringe benefit to the lifestyle advantages that this sort of neighborhood provides, there is evidence that this type of development will also lead to higher resale home values later on when it comes time to sell. According to Amy Hoak of MarketWatch as reported on MSN.com, homes in walkable neighborhoods are “worth more than homes in neighborhoods where driving is the rule”.
According to a report entitled “Walking the Walk: How Walkability Raises Housing Values in U.S. Cities," which looked at 94,000 real-estate transactions in 15 markets, higher levels of "walkability" were directly linked to higher home values in 13 of the 15.
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