West Des Moines leaders and stakeholders are looking at different development patterns that would have a fiscal impact on the city’s budget for the future.
On Thursday, leaders heard from Smart Growth America, a research group that analyzed West Des Moines development data and how a new development pattern would impact the city in the most advantageous way. One of those patterns is the walkable urban scenario, which capitalizes on expanding the city with houses “within walking distance” of shops, restaurants, schools, and other community amenities.
Patrick Lynch lead the research team from Smart Growth America, and said the walkable urban scenario has the highest financial return out of all the new development patterns, especially in terms of property values for both businesses and single family homes.
“We think that the housing market actually does want this walkable urban product,” said Lynch. “There are polls out there that say half the population, given the choice, would actually choose to live in a walkable urban place.”
Lynch said the numbers are solid to support this analysis.
“An office property that is located in a walkable urban place, ” said Lynch, “the value of that property tended to be more than double, 134 percent higher, if it was located in a walkable place as opposed to a driveable subdivision.”
Lynch said he’s studied other places that show a walkable urban scenario, when implemented wisely, expands a community financially.
“Where these places have been implemented successfully, they really have generated a lot of value and potential,” said Lynch. “The issue is finding a pioneer who is willing to take a risk and do something like this on a large enough scale.”
Lynch said the next step for West Des Moines is to have its leaders consider this development pattern seriously and work toward planning for its implementation in the next 20 years.
