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Introducing the Central Social District

EpicentreAs real estate companies explore new combinations of retail, hotel, and residential living spaces, a recent ULI study (Adobe Acrobat required) suggests that businesses want to be in places where people can enjoy life, feel safe, and have a good time.

William Hudnutt III, an Urban Land Institute Senior Resident Fellow,  argued there are three new groups of people who want a return to urbanism. Demographically, he said, they can be described as: 'singles, mingles, and jingles.'

"...Singles are, of course, unattached adults; "mingles" are young couples who like the urban lifestyle and have no school-age children; and "jingles" are high-income empty nesters moving downtown for the urban amenities, culture, restaurants, and shopping."

"The new city is a metropolitan mosaic," Hudnutt added. "It is an interconnected network of nodal urban centers. This new pattern can be enhanced by a commitment to mass transit and to transit-oriented development." Developments like The Ghazi Company's Epicentre project (shown above) show how new construction can provide opportunities for redevelopment and revitalization of a community.

As real estate managers mull how to encourage traffic (the same type of issues that media types consider with the so-called Long Tail), they, like Westfield, will need to understand the economics of delivering much higher levels of customer service.

Link: The Future of Cities (Adobe Acrobat required)

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