As identified in a new Urban Land Institute (ULI) publication, Active Transportation and Real Estate: The Next Frontier, an increasing number of communities worldwide are being tailored to cyclists, as urban development trends shift from being car-centric to people-friendly.
One out of the ten real estate developments profiled in the publication is Westwood Residences, located in Jurong. Developed by Koh Brothers and Heeton Holdings, the 480-unit residential project is Singapore’s first bicycle-themed development, and is featured alongside projects based in the United States and London.
Due to be completed in 2017, Westwood Residences will spend more than SGD$1.5 million on its bicycle-friendly features. This includes an outdoor mini cycling track; a 500-bicycle garage secured by a biometrics system; a maintenance facility that provides tools, tire pumps and air compressions; a bicycle washing area; a BMX bike park; and a bicycle trail connected to parks.
According to the report, the featured projects indicate that real estate developers are now recognising the importance of investing in active transportation amenities to acquire a competitive edge. The report states, “by leveraging and enhancing access to walking and bicycling facilities, they are helping to initiate a win-win cycle of mutually reinforcing private and public sector investment in active transportation in communities around the world.”
Active Transportation and Real Estate: The Next Frontier is written by ULI Senior Vice President Rachel MacCleery and ULI Senior Resident Fellow Edward McMahon. The publication looks at the bicycle boom as a result of people pursuing a lifestyle that reduces dependance on motor vehicles. It states that the support of bike infrastructure in real estate can play a part in creating “healthier, more sustainable communities.”
Read the full report here.
Urban Land Institute (ULI)
uli.org