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November 13, 2018

Home Buyers Prefer Compact Communities

In a recent poll, a majority of home buyers in the United States said they prefer to live in neighborhoods with smaller properties if that means they can shop, dine and run errands without a car.

The poll, conducted by the National Association of Realtors, found that 53% of people would make the trade-off of living in a condo, apartment, or townhouse in order to be in near shops, parks, and restaurants. This number is up from 49% in 2015 and the first time that a majority of people responded that way since NAR started doing these surveys a decade ago.

The desire to be near community amenities over space is strongest among the oldest and youngest people polled. Of those born before 1944, 55% liked the idea of being in a community where they can shop, dine and run errands without a car, while 62% of those born in 1981 or after felt the same way.  

People's preference for car-optional communities has been well documented for some time. George Washington University recently conducted a study that found that Long Island municipalities must create walkable urban spaces in order to improve quality of life. 

A key part of RXR Realty's vision for New York includes the creation of "urban suburban neighborhoods”. RXR is leading the way in revitalizing suburban downtowns in Stamford, Glen Cove, Yonkers and New Rochelle.

villagesquare

In Glen Cove, RXR is developing Garvies Point, a waterfront, resort-style neighborhood with 28 acres of parks, wooded areas, playgrounds, retail space and residences. Less than a mile away, in downtown Glen Cove, RXR is also developing Village Square. Modeled after European plazas, Village Square will feature 17,500 square feet of retail space, restaurants and cafes, and 146 apartments. Together, the Garvies Point and Village Square projects will transform Glen Cove.

Residents of Garvies Point can enjoy the amenities of downtown Glen Cove without a car. RXR will provide shuttle service via the "Glen Cove Connector" which will transport residents from The Beacon and other residences to downtown Glen Cove and the train station.

Source: NAR website.

Learn More About Garvies Point