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Summary: U R B A N D E V E L O P M E N T
Envisioning the long-term future of cities has always been hazardous, but in this first of
a series on commercial real estate in the coming decade, BNA sought the views of several
urban market experts on what to expect by the year 2020. They generally agreed that after
years of anticipating the advent of ``new urbanism'' and ``smart growth,'' the market is
primed to generate many more transit-oriented communities, more compact housing devel-
opments in ``walkable'' settings, and more efficient use of available land.
Once the Recession Abates, Cities Set to `Turn the Page' on Development Styles
C
ommercial real estate is likely to recover slowly
from the recession, and many believe progress in
the industry and in cities will be difficult to iden-
tify in the near-term, but profound changes in the
American built environment are on their way over the
coming decade, according to expert sources BNA has
interviewed in recent weeks.
By 2020 real estate developers should be building of-
fices, retail space, and homes, just as they have in the
past, but many see a fundamentally changed environ-
ment for their work, even if the financial system has
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