Walking Towards Value

There is an undeniable trend towards greener methods of transportation. Notably for real estate professionals, walking is among the most popular. At first glance, it might be hard to connect the dots between real estate and walking. Things become clear, however, when you take into account a recently released report by Smart Growth America and the George Washington University School of Business. The report details how a city’s “walkability” and its real estate prices are correlated. 

As it turns out, walkability is a significant driver of high real estate valuations. As millennials enter the workforce and begin to command significant salaries, markets are beginning to pay attention to their habits. The generation is largely interested in walking or biking to do most of their activities, such as commuting to work or going for groceries. Consider the following: urban, walkable housing is between 40% and 200% more expensive than comparable suburban, un-walkable housing. The trend isn’t exclusive to residential either, walkable commercial property is 74% more valuable on average than similar un-walkable properties. The next time you consider the value of a property, make sure walkability is part of the equation.

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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