08 Mar National Trend: Beyond Car-Dependent Buildings
Southern Land Company’s 3601 Market community in Philadelphia continues to generate positive buzz for the way its amenities and design tap into national real estate trends.
In January, New York Times reporter Ronda Kaysen used 3601 Market to exemplify how developers are building housing for young professionals in college towns. Then in February, GlobeSt.com ran a story about a RealShare Conference panel that touched on the overall appeal of the Philadelphia market. During the panel, Southern Land Company Senior vice President of Multifamily Development Dustin Downey explained how markets such as downtown Philadelphia attract millennials and baby boomers alike.
“The siting, design, and programming of buildings can encourage or discourage people from using public transit and other alternatives to the automobile. For example, placing housing near grocery stores and other neighborhood-serving retail outlets reduces the need for trips made by car. Giving apartment dwellers handy, secure bike storage makes owning a bike much simpler, and providing affordable housing in prime spots close to multiple transit lines grants access to those who need affordable means of travel the most.”
The piece continues to explain how 3601 Market is strategically located to enable residents to easily navigate Philadelphia’s bustling University City area without having to drive:
“Founded in 1963, Philadelphia’s University City Science Center is one of the oldest and largest research parks in the United States, but the campus has long lacked a residential component. That changed in 2015 when 3601 Market Street opened, adding 363 apartments above ground-floor retail and restaurant space. Replacing a parking lot, the 28-story tower is within walking distance of the University of Pennsylvania and Drexel University. It is also within a block of five trolley lines, two blocks from a subway stop, and a short subway ride from 30th Street Station, a major hub for Amtrak and regional rail. Structured parking includes room for 135 bicycles.”
The rest of the story is a great read as well, and features everything from a mixed-use project in Asia to a life-sciences building in Portland, Oregon. Truly, around the world, top developers are thinking beyond the car.