Less Square Feet – More Value

Posted on June 01, 2010 by Tadd Miller

The Atlantic has been running a series lately entitled, “The Future of the City.” In the most recent issue Chris Leinberger has some great insight on urban economics in America. We can relate to his stats. Some of the most successful suburban builders in the late 90’s and early 2000’s used the “More Square Footage, Less Money” business plan, which was solid and profitable during the crazy hot (and overheated) mortgage and sub-prime market. However, this commoditization of housing severely diminished the intrinsic value and uniqueness of a person’s home. As an urban redeveloper, we found that the smart money bought into our “Less Square Footage, More Value” business plan, whereby square footages were smaller, but the spaces were well designed and efficient. Even in the market downturn, the urban developments that are unique and have this premium design quality in smaller square footages have fewer price reductions, on a per square foot basis, and quicker resale than their oversized counterparts in the suburbs.

This entry was posted in Design, Housing

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