An interesting phenomenon is taking place in London: the priciest tiers of its housing market are increasingly being driven by overseas investment, primarily from the Far East. The most interesting – and perhaps most concerning – aspect of these investments is that at least 37% those who buy property in the most expensive neighborhoods of central London do not intend to use that property as a primary residence. This results in upscale neighborhoods and residential properties that are largely abandoned and contribute almost nothing to the local economy of the city. Parts of Manhattan are experiencing similar behavior, leading us to ask the question “what is happening to our cities as they become more and more globalized and how will this trend affect city economies around the world?”
Read more after the break…
“Let’s dump the word “zoning,” as in zoning ordinances that govern how land is developed and how buildings often are designed. Land-use regulation is still needed, but zoning increasingly has become a conceptually inappropriate term, an obsolete characterization of how we plan and shape growth.” - Roger K. Lewis
Zoning, a concept just over a century old, is already becoming an outdated system by which the government regulates development and growth. Exceptions and loopholes within current zoning legislation prove that city planning is pushing a zoning transformation that reflects the current and future goals and needs of city building. To determine how zoning and land use needs to evolve we must first assess the intentions of future city building.
Planners, architects, legislators and community activists have already begun establishing guidelines and ordinances that approach the goals of sustainability and livability. For example, the AIA has established Local Leaders: Healthier Communities through Design and has made a commitment to the Decade of Design: Global Solutions Challenge. New York City has come up with Active Design Guidelines: Promoting Physical Activity and Health in Design and its Zone Green initiative in regards to updating its zoning resolution. In addition, Philadelphia has augmented its zoning to include urban farms and community gardens and it is safe to assume that many other cities will follow this precedent.
So what is it about current zoning codes that makes it so outdated? Follow us after the break for more.
PORTLAND–A recent study by Portland-based Earth Advantage Institute reveals that Energy Star and LEED certification for new and existing homes not only saves money but might also raise resale value. The study, conducted over four years in the six-county Portland metropolitan area, found that newly constructed homes with third-party certifications for sustainability and energy efficiency sold for 8% more on average than non-certified homes, and existing homes with certifications sold for 30% more. A similar study was also conducted Seattle, showing 9.6% price premium with certification. While the results are inconclusive, they are compelling.
From the Washington Post Writers Group VIA Los Angeles Times: