RESPONDING TO MIGRATION

Markets have stabilized on an industry-wide level, but there has been a shift in the location of new development. Primary destinations like New York, Los Angeles, London, Tokyo, and Shanghai are intensely competitive and expensive – driving residents and businesses to widen their search for suitable real estate to neighboring cities and satellite towns.

“The growth of second-tier cities has helped stretch investment dollars further. And, with greater profit margins in place, developers can respond to consumer preferences for lowerdensity buildings, affordable housing, greater land allocation to green space, and more walkable, community-centric design,” shares Kona Gray, EDSA Principal. This holds true for all types of real estate development, not just residential. Institutional design of government buildings, universities, and healthcare facilities are being challenged by the public to preserve nature rather than develop atop it. Multi-family properties are being tasked with creating more opportunities for spontaneous interactions and community-oriented amenities that go beyond a pool and club room. In response, new designs of mixed-use districts are including ground floor retail with food, beverage, and office space space while residents on upper floors have rooftop gardens and amenity decks. “Designers envisioning this new ‘hipsturbia’ delicately balance metropolitan conveniences and connectivity with suburban space splendor.”

But don’t underestimate city living. By 2050, more than 68% of the planet’s population will live in major urban areas. “Our work is going to continue to evolve toward public realm design as we plan for the continual migration of people,” explains EDSA Principal Jeff Suiter. “To properly manage urban growth, we need to emphasize design solutions that ensure access to infrastructure and social services for all – focusing on the need for housing, education, health care, decent work, and a safe public realm. In addition, power, water, sewer, highways, airports, transportation, and other public works have outgrown yesteryear’s solutions and must be updated to not only address increased demand, but greater resiliency for the future if we are to fulfill and sustain consumers’ lifestyles.”