Located just northeast of the Bronx, New Rochelle, N.Y., was once sleepy, boring, and residential, much like many suburbs in the U.S. In December, though, the town broke ground on a $4 billion, 12 million-square foot redevelopment project that will attract people who want the best of both worlds: A New York City lifestyle in an affordable community.
Business Insider reports that urban planners, city officials, and developers are rethinking how they design suburbs, emphasizing density, walkability, and diversity. The line between urban and suburban isn’t as clear as it once was.
Other changing American suburbs include Palm Springs, Calif., and Lakewood, Colo.
Mayor Noam Bramson says New Rochelle's redevelopment was spurred both by residents' desire to live in a more urban 'burb as well as the financial viability it might bring to the town. "There will be plenty of millennials and those from the older generation who will still want the classic acre and picket fence," he says, "but there’s a shifting in the ratios."
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable
