Planned Urban Development - PUD
Categories: Econ
We’ve seen it in movies like Pirates of the Caribbean. Not the adventure, the gold, or the smelly pirates...no, we’re talking about the planned urban development (PUD).
PUDs are buildings where the bottom is commercial-use and the top is residential-use. Before we had skyscraper cities, it was common for storekeepers to live upstairs, above their own stores.
Now PUDs are back in town, integrating commercial and residential spaces together in urban environments. It’s easy to see why people are attracted to planned urban development. Mixing residential and commercial means people can live in the city, but still be close to their local grocery store and hair salon.
On the opposite end of the scale where we separate the city from the people, we’ve got huge buildings on city streets on the one hand, and suburbs on the other. Sure, the ‘burbs are great for a lot of people, but are considered a death-trap for city dwellers used to the city life.
With PUDs, living is more convenient and walk-friendly, while still being city-like. While residents like it, developers like it even more. Since they’re putting their eggs in two baskets (both residential and commercial), they have less risk than developing a single-use building. Plus, demand for these places is higher, since it’s just so darn walkable with theaters, stores, and events all nearby.
