I'm a big believer in "The Ripple Effect" and I see it all around me.
In fact, my AR blog post was about the Ripple Effect of Foreclosure. Later, I wrote on the Ripple Effect of declining property tax appraisal growth. I have also written posts on the effects of light rail mass transit and Transit Oriented Developments (TOD's) in the Dallas area including Word-a-palooza - Part Deux: A TOD Update and Dallas and Garland - Those TODdling Towns! I see the growing popularity of TOD's as sort of a Ripple Effect of rising gas prices and the more general trend toward a more urban style of living.
In an article last week, the Dallas Morning News reported on how 2 more Dallas area suburbs, Carrollton and Farmer Branch are already preparing for 2010 when the DART Rail Green line extend to those cities.
And what do you think these cities are planning? TOD's! The City Manager for Farmers Branch was quoted in the article and commented on how until now they really did not have a downtown area and so the city lacked any urban living and shopping options. The opening of a Farmers Branch stop on DART's Green Line 2 years from now will bring that style of living and shopping to Farmers Branch for the first time. The city has specified a 20 acre area of developments for this purpose.
Carrollton will actually have 3 DART Rail stations and in the DMN article the city's manager of TOD's was quoted... the fact that a city position with that title exists should give us all a good idea how importantly TOD's factor into Carrollton's future plans.
Clearly the way that North Texas residents are responding to TOD's and mass transit are changing. And as gas prices continue to rise, the desire for many people to reduce their commutes, save gasoline (and money) and their willingness to use mass transit as a tool in those efforts will also continue to change.
Every article I have read indicates that this shift is not confined to the Dallas area. Are you seeing more of this type of real estate being developed in your part of the country? Let me know...
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Footnote: I got a call today. Someone who had found me on Localism who was interested in condos that were walking distance to mass transit. A nice lead and proof that if you Blog about it, those interested will find you!!!