This is my first post on my blog site, so bear with me as I get started. With the impact of the current economic crisis weighing heavily on most everyone, I have had a lot of time to think about the current state of town planning and neighborhood architecture. Obviously we need to get through this current inventory of housing before we see any significany improvement in the economy. Housing is the engine that will drive recovery; however......
Half-finished "subdivisions" are in big trouble! Nearly bankrupt builders and developers are walking away from these projects to cut their losses and the existing homeowners are really screwed as their values plummet every day. What I am advocating is re-entitling these subdivisions to create viable economic neighborhoods.
While I believe the term "win-win" is often used too much, in this case I think it is true. If a bank has inherited one of these properties, it would be in their best interest to add value by increasing density, diversity and a multitude of uses. By increasing sales options through multiple "products" and pricepoints, true neighborhood can be created.
From a design standpoint I believe this creates better places, but from a practical standpoint it also makes the project viable again by enticing builders to construct a range of pricepoints opening to a broader marketplace, increased activity on the site and a renewed positive value in the community. Existing homeowners should have limited resistance to such "re-positioning" as stalled subdivisions have left them in limbo. Obviously even traditional neighborhood developments are struggling in this economic downturn, so it is not a cure to all our woes. I just believe that as a general rule, the days of the large lot, large home, typical sprawl development have been exposed for what they truly are.........
Michael
Guilford Neighborhood in Baltimore
One of the great neighborhoods in Baltimore