Many automakers plan to manufacture autonomous vehicles by 2021 or sooner, potentially inciting a new era of land development, home design, and real estate.
Only about 40 percent of U.S. adults are currently enthusiastic about the development of autonomous vehicles, and 54 percent are worried about it, according to a recent Pew Research Center survey. However, many firms are already planning ahead to incorporate this wave of the future. William Hezmalhalch Architects are currently creating prototypes for garages that easily convert into living space. "Getting the jurisdictions to realize there are not going to be as many cars out there," will be the challenge, says Denise Ashton, the firm's senior principal in community planning to Realtor.com.
"It’s a transformative moment," says Billy Rose, president of The Agency, a Los Angeles–based real estate brokerage and development consultancy. "It's just so exciting to think about how these changes are going to impact us. There are ways we haven’t even thought of yet."