New report shows walkability matters

As the push to develop more walkable communities gains traction, certain metro areas are progressing faster than others, according to a new report by the Center for Real Estate and Urban Analysis at George Washington University School of Business in conjunction with LOCUS: Responsible Real Estate Developers and Investors, a program of Smart Growth America.

The report, Foot Traffic Ahead: Ranking Walkable Urbanism in America’s Largest Metros, ranks the country’s top 30 metropolitan areas based on the amount of commercial development in Walkable Urban Places.

While metro areas like Washington, D.C., New York City, Boston, the San Francisco Bay Area and Chicago ranked among the top current areas for walkable urbanism, the report found that Pittsburgh, Atlanta and Cleveland are well positioned for future growth of walkable places given current efforts in those the communities.

Top-ranking metro areas have an average of 38 percent higher GDP per capita as compared to the low-ranking cities. Office rent in walkable urban areas rent at a 74 percent higher premium per square foot over drivable suburban areas.

“This is an important study underlining the economic power of walkable places, and identifying which metro areas are adding them fastest,” said Geoff Anderson, president and CEO of Smart Growth America. “Cities that want to thrive in our new economic and demographic realities will need to find ways to create and support more of these dynamic, productive walkable districts that are in high demand.”

The top 10 most walkable U.S. cities:

1. Washington, D.C.
2. New York
3. Boston
4. San Francisco
5. Chicago
6. Seattle
7. Portland
8. Atlanta
9. Pittsburgh
10. Cleveland

“Creating new Walkable Urban Places is a goal that elected officials and developers alike can get behind,” said Emerick Corsi, President, Forest City Real Estate Services and Development. “Based on the trends in Foot Traffic Ahead, there is the potential for market demand for tens of millions more square feet of walkable urban development—and hundreds of new WalkUPs—in America’s cities. Meeting that demand is an opportunity to create huge value for these communities.”