3 Trends in Transit-Oriented Developments - September, 2020

 

3 Trends in Transit-Oriented Developments

Tallahassee, Florida – September 25, 2020 – Right before the pandemic dominated nearly all CRE headlines, transit-oriented developments were a trending topic within the commercial real estate industry.

Transit-oriented development projects are renowned for their positive impacts on strengthening cities and communities. These innovative plans combine secure networks of travel, affordable living, and accessible workspaces into one cohesive cityscape. While Tallahassee focuses more on placemaking developments like Midtown, Market District, Frenchtown, and others area of growth, having highly walkable live, work, play communities are not far from our local grasp. NAI TALCOR has been a voice in planning and designing these new urban districts.

The buzz surrounding transit-oriented development projects reflected the interest in these contemporary commercial projects, but how are they doing now? We all know that the pandemic ushered in a new atmosphere for commercial real estate as it once stood, and many forecasts were extinguished by the ‘new normals’ of COVID.

What’s in store for the future of transit-oriented developments? Here’s a look at the current trends and outlook within transit-oriented development projects.

ARE TRANSIT-ORIENTED DEVELOPMENTS SAFE?

Bustling community transit networks were viewed with skepticism as the threat of highly-contagious viruses suddenly became top-of-mind. Transit-oriented developments are centered around a network of easily accessible community transportation for metropolitan areas. But, are these safe?

As the coronavirus pandemic called transit-oriented developments into question, the industry has been diving into the realities of these social-distancing concerns.

Viral transmission isn’t about public transportation, it’s about disorganization. Experts named crowding, poverty, pollution, and other prominent socioeconomic factors were named prime concerns for viral transmission - but that’s where transit-oriented development presents a solution to today’s biggest metropolitan challenges.

Transit-oriented developments are highly organized, planned, and harmonious. They connect people with a seamless network of getting from one place to another, which is key for busy communities. A properly planned, transit-focused urban center alleviates traffic congestion and creates a smooth and secure network of travel for employees, students, and community members. 

RESTRUCTURING DENSITY

Transit-oriented development projects strive to optimize density where it’s already found. Densely populated areas need more strategic attention to ensure that the flows of people and traffic are smooth and streamlined.

Right now, transit-oriented development projects are playing a huge role in supporting the new city planning models coming out in response to COVID. Social distancing is only difficult when there’s no infrastructure to support it. However, transit-oriented developments are taking the reins to smooth out the density issues and optimize community flows. 

PROVIDING AFFORDABLE HOUSING WHERE IT’S NEEDED

A lack of affordable housing options have been weighing down on real estate markets, but transit-oriented developments that incorporate multifamily projects offer a veritable solution.

Big cities all around the country have been exploring ways to solve their affordable housing shortage that’s been accentuated by the pandemic. Economic hardships are being felt across the board as people are forced to restructure where (and how) they work and live.

As more people are expected to migrate into cities to be closer to work, affordable housing options are a necessity.

Fortunately, affordable housing has already been a prime consideration for transit-oriented development projects. Large urban areas are now taking a deeper look at these creative and efficient metro models to provide the solutions that are needed right now.

By preventing overcrowding and oversaturation of key areas, transit-oriented developments are proving to be incredibly vital aspects of city planning as we navigate the post-COVID era and beyond. 

ABOUT NAI TALCOR

With 70 team members including 30 licensed commercial sales advisors, NAI TALCOR is the leader in the North Florida, South Georgia and South Alabama markets. NAI TALCOR is a full service commercial real estate brokerage, property management, development and construction management firm. Providing commercial real estate services since 1990, NAI TALCOR has steadily grown by meeting client needs and partnering with others to promote mutual growth and prosperity in all aspects of commercial property ownership.

NAI TALCOR clients receive global reach with local expertise, a truly distinct advantage in commercial real estate services. Whether real estate requirements are in one market or many, we help our clients understand the market, acquire, dispose of, develop or manage their property with ease.  

NAI TALCOR provides comprehensive brokerage, leasing, property management, receivership services, and facility/construction management to the North Florida, South Georgia and South Alabama commercial real estate marketplace. Our collaborative services platform is an expansive, yet nimble, responsive structure which enables efficient, full services delivery of all elements of Commercial Real Estate Services to the region. NAI TALCOR is involved with the leasing, selling, and property management throughout North Florida, South Georgia and South Alabama. Our skilled professional specialize in office, retail, multi-family, special-purpose, medical, and other properties.

ABOUT NAI GLOBAL

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. Whether you need to buy, sell, lease, finance, or manage commercial property in your town, across the U.S. or in Asia, Europe, Latin America, and beyond, your nearby NAI Global local office is your local point of entry into a world of creative solutions in commercial real estate.

Exceptional global commercial real estate solutions begin with local market leadership and expertise. NAI Global offices are respected local-market roles models that are passionate about the commercial real estate business. With long histories of success across market cycles, NAI Global offices have a hard-earned, unusually deep level of local market knowledge and insight beyond the commoditized data you find elsewhere. This depth of knowledge is borne from their local relationships nurtured for generations-relationships that give our local-market leading offices the edge with the know-how, who, what, where, and when to achieve exceptional results for clients.

As an organization, NAI Global actively manages this industry-leading platform of local market knowledge and leadership, providing support and services that yield seamless integration and the consistent delivery of exceptional services to clients worldwide.

To learn more, visit www.TALCOR.com or www.naiglobal.com