YOUR BUSINESS AUTHORITY
Springfield, MO
Longer commutes to employment centers, coupled with less access to shopping, public transportation, recreational activities and other services have created the opportunity for architects and planners to address these concerns with mixed-use development projects that combine commercial and retail options as part of residential properties.
“To combat the isolation caused by distant residential construction and to increase accessibility for households, we are seeing a strong increase in community design trends that are integrating more activities into housing development,” said AIA Chief Economist Kermit Baker, in an AIA news release. “In addition to mixed-use development strategies, 63 percent of residential architecture firms reported that infill development – where smaller land parcels closer to urban centers are targeted for development – is another strategy that is increasing in popularity.”
Among the survey’s highlights:
• Infill development: 63 percent of firms reported an increase in popularity.
• Mixed-use development: 58 percent of firms reported an increase in popularity.
• Access to public/alternative transportation: 43 percent of firms reported an increase in popularity.
• Higher-density development: 41 percent of firms reported an increase in popularity.
• Wireless telecommunications and data systems: 70 percent of firms reported an increase in popularity.
• Energy-efficient products: 66 percent of firms reported an increase in popularity.
• Central audio systems: 48 percent of firms reported an increase in popularity.
• Automated lighting systems: 31 percent of firms reported an increase in popularity.
Also, residential architects report signs of a market slowdown, despite strong numbers for billings and inquiries for new projects. Particularly, architects see a decline in homes targeted for first-time buyers.
AIA’s Baker added, “While the overall billings at residential architecture firms remain solid, there are signs that the housing market could be reaching its peak in many areas. New and existing home inventories are beginning to grow, higher home prices are limiting the number of potential buyers who can afford to purchase a house, and decreases in mortgage applications to buy a home are all indicative of a market that is ripe for a decline.”
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