Suburbs - Density (Chicago, Arlington Heights, Wheaton: for sale, 2015, apartments)

[werd123]

I know that recently there has been a boom with the amount of high rise residential condos and apartments that is being built in the city. I noticed that Oak Park is building up a couple 20 story apartments. Is this a sign that the region is becoming more open to higher density development outside of the city proper?

[chet everett]

Not sure what you are implying about "density outside the city proper". Developers will try to respond to market demand and there just is not a whole lot of demand for people to stack themselves up in places where there are really not a whole bunch of jobs, dining, nightlife or entertainment. I am not singling out Oak Park, the same could be said for basically all but a few sq miles of Chicago too...

To be sure, Oak Park's new apartment buildings look nice enough -- Apartments in OAK PARK For Rent | Vantage Oak Park

& 100 Forest Place in Oak Park, IL | Neighborhood

Developers have built high rise apartments in all kinds of places for years, but really the factors that are absent in places like Wheaton or Arlington Heights or Wood Dale or Lombard generally have made these losing propositions...

http://wheatoncenterapartments.com/w...Newsletter.pdf

Yorktown Apartments | Lombard, IL | Home

Dunton Tower Apartments |

465 W. Dominion, Dominion Tower in Wood Dale, Illinois, Condos for Sale - Homes by Marco

[Lookout Kid]

I think most suburban communities are still quite resistant to high-density development.

[chet everett]

The thing is, while professionally educated planners understand the pluses of things like Transit-Oriented-Development, there are legitimate concerns about what happens as successful project drive property values / rents higher. Some studies have shown that as folks living in such developments see their income rise they, like the rest of those in America, actually end up getting a personal CAR, which then puts increased pressure on parking that may have been intentionally minimized in such developments. Not good! https://martusio.wordpress.com/2015/...d-development/

The other thing is that happens with some TOD is that it is not extensive enough to really change patterns of either general land use or broader economic interactions. To really lay down sidewalks in areas that don't have them involves a very costly and problematic "chicken & egg" problem as w/o sidewalks people will still drive even to transit stations --
An Epic Transit-Oriented Development Fail - CityLab

Legitimate issues like these often do get swirled in "public debate" settings which then stray towards more emotional issues about who really benefits from higher density developments, and what sorts of negatives they may hold for towns that have been 'successful' without them, as this glimpse from a SF Bay area proposal suggests -- Unhappy residents warn that low-income, high-density housing could mean more traffic and crime for Danville - San Jose Mercury News

Many voiced concerns that low-income, high-density housing could increase crime, fire hazards, traffic congestion and overburden Danville schools.

"Build it, and they will come," resident Sheila Truschke said. "But don't build it, and they won't."...

We're talking about senior facilities, housing for teachers, retail workers, restaurant workers. It doesn't mean that we are bringing crime elements or gangs into Danville."

[nikitakolata]

While not a high-rise, there is a huge apartment building going up in Elmhurst right now:

Elmhurst 255 Luxury Apartments

I'm not sure if it's a great thing for the area or not. It's definitely going to add to traffic on York, which is already backed up during rush hours. But, if they put a Trader Joe's in the retail level, I'd be so happy. I guess we'll see.

[mr roboto]

Nationally there is a push for higher density development in traditional suburban environments. Especially if it's near a transit hub. I believe you will see more and more mid-priced apartment developments and condos in the transit-oriented burbs. The condo trend started in the early 2000s and got hammered by the recession but Millennials are less likely to desire home ownership and choose to rent longer into their 20s/30s.

[Lookout Kid]

Originally Posted by mr roboto

...but Millennials are less likely to desire home ownership and choose to rent longer into their 20s/30s.

Millennials Still Want to Own a Home in the Suburbs

Excerpt:

"A common misconception in the wake of the Great Recession is that Americans, particularly millennials, hold different preferences regarding homeownership and a desire to live in the suburbs. This stylized argument claims that the declining homeownership rates of recent years is a reflection of an increased desire to rent, particularly in more urban locations. However, this assertion is at odds with recent survey data that indicate that preferences for homeownership and suburban living remain strong.


The goal of homeownership, alongside education and owning your own business, remains a key feature of the American Dream. The homeownership rate, for those under age 35 has fallen from 43.1 percent to 35.8 percent from 2004 to 2014, according to Census data. However, this change reflects constraints on housing opportunity rather than a sea change in preferences.


A 2014 survey by Fannie Mae found that 90 percent of young renters were likely to buy a home at some point in the future. Only 7 percent of younger renters reported that they were likely to always rent a home. Among current renters, the survey found that the top primary reason for renting (22 percent) was flexibility, but 21 percent were renting to prepare financially for homeownership."

[Lookout Kid]

There are other articles out there basically saying the same thing. In fact, I saw one not long ago that Millennials have a HIGHER desire for single-family detached suburban housing than Gen X-ers did at the same age. I wish I could find it again...

[JJski]

Hey nikita, same in LG 254 luxury unit build right in core - gonna change our landscape also...

https://www.opus-group.com/OurWork/L...al-Development

[mr roboto]

Interesting. I know home ownership is at a low right now. Combined with rising rents and shockingly low interest rates (and the oldest of the Millennials getting to their young 30s) you'd think this would be changing.