As we hone in on the wildly nebulous millennial demographic, certain trends are becoming clear - millennials want walkable communities... and so much more. This Forbes article discusses the advent of Hipsturbias, what they are and why they are important to tomorrow's housing design.
Just as their parents flocked to the suburbs, city-loving Millennials are doing the same yet transitioning some areas to “Hipsturbia,” a phrase revealed in the Urban Land Institute’s (ULI) joint report with PwC, Emerging Trends in Real Estate® 2020. The data comes from interviews and surveys of over “2,200 real estate, development, and investment experts.”
Millennials are transforming suburbs as they seek out walkable downtowns where they can live, work, play and raise families. Urban planners, municipalities, large employers and developers are paying attention. As Millennials face the realities of raising children and growing their families, the big cities they love are losing their shine. No surprise there.
Listen to Anita Kramer, SVP, Center for Capital Markets and Real Estate at ULI. “It’s kind of coming from a few different directions. We know that Millennials are attracted to urban core living which is a major reason for the revitalization of suburbs into an urban walkable lifestyle and all the liveness that comes with that.”
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