A new study asks Is ‘New Urbanism’ Worth Added Costs?, and its authors seem shocked — shocked! — that people want to free-ride off of others:
Gerrit Knaap, a co-author of the study, which appears in the Journal of Urban Economics, says home buyers pay a premium for elements like connected street networks, smaller blocks, better pedestrian access to shops and proximity to light rail. But while they’re willing to pay a premium to be near these elements, they don’t actually want to live in the thick of them.‘The American public seems conflicted and self-centered’ when it comes to where they want to live, says Mr. Knaap, who also is the executive director for the National Center for Smart Growth Research and Education at the University of Maryland. For instance, people like to able to walk to the store, but they don’t want the store in their immediate neighborhood. They like having a street grid that is easy to navigate, but prefer to live on a cul de sac, a feature that disrupts traffic flow.
Homes in intimate and highly planned neighborhoods fetch 15.5% more than comparable homes in traditional subdivisions, according to the study.