Author : Francisco Gianni Traverso
Publisher :
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.:/5 (94 download)
Book Synopsis The Use of Patient Capital to Promote Real Estate Development in Walkable Communities by : Francisco Gianni Traverso
Download or read book The Use of Patient Capital to Promote Real Estate Development in Walkable Communities written by Francisco Gianni Traverso and published by . This book was released on 2014 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: As expressed by several authors, walkability was essential on pre-industrial cities; streets were by necessity walkable, since everyone depended upon ready access by foot to jobs and the marketplace. Almost every use and activity had to be connected by a continuous pedestrian path. Because of industrialization and the need for efficiency, this type of fabric was replaced for an auto-dependent development type. The city grid became less connected and interactive, with streets used as service roads that connected residential zones with areas devoted to exclusive uses such as commercial or industrial. Today, there is growing evidence on the adverse impacts of this type of development and, an increasing understanding of the benefits of walkable communities, where the concept of walkable neighborhoods is receiving an important amount of attention because evidence suggests that a neighborhood's socio-physical structure is highly related public health, with walkable neighborhoods providing not only health related benefits, but also increasing social and economic development. This study explores how different policies related to real estate development, which provide equity for construction, can be used as patient capital in the early stages of a project. When compared to the usual investment model, the use of patient capital is intended to increase a project's equity to face the higher cost of development in an urban walkable setting instead of suburban development and it provides a larger time frame that might allow that neighborhood to reflect the economic and social benefits of walkability. As the analysis will show, when policies are bundled in a toolkit, sufficient patient capital can be raised for real estate development, where value is created through the larger holding period; however, this capital is available for any type of development, not promoting walkability and showing that specific policies have to be developed in order to ensure that funds are used for more and better walkable neighborhoods.