We all remember the movies when we were growing up… the bionic men, the robots, the slick rides that could fly, drive and swim at the same time; we were all incentivized by this technologically-driven future that we could soon look forward to. While it’s taken a bit longer than we anticipated (hello, Odyssey 2001), the future is slowly starting to show up. We’re seeing a natural progression in the evolution of products. We’re seeing more sustainable options. We’re seeing sleeker looks. And that’s parlaying into every industry possible. One of those industries is architecture. And that’s our bread and butter. Part of our bread and butter is information sharing. That’s why you stop by the Australian Heritage Homes Website and blog. We always promise to share information that we find entertaining and educational to keep you in the know and help you make the right decisions for you and your home.
Today, we focus on the future. Not ours, (which is blossoming, thanks for asking) but that of cities around the world. Specifically, we’re looking at Detroit, that’s standing up a growingly-popular concept. They’re building a city within the city.
The key here is that the space will be divided between retail, residential and commercial. Equivalent in size for this specific example, in fact. Developers are realizing that if they rent out the bottom few levels to stores and businesses, it actually guides more renters and buyers to take over the residential housing above. This business model ensures success for all parties.
This specific example in Detroit will be quite a monstrosity. According to Business Insider, “The development will feature 425,000 square feet of residential space, 240,000 square feet of office space, 120,000 square feet of event space, and 100,000 square feet of retail space.” This is especially important for the market of Detroit, which has seen a downswing in the past few years. Not only will it bring in individual renters and owners, but businesses which can now have an important presence on a once bustling retail and development scene.
So how does this pertain to you? It’s important to know what the future of architecture looks like for your city. With this knowledge you can discern where and when is the best time to build. The Australian Heritage Homes team keeps tab on land values, as well as the cities and countries where development is really ramping up. These are all over the globe and fluctuating at different times. The real estate market is a volatile one, but we aim to equip you with the news and know-how to build at the right time for you and your loved ones.
While we assume (perhaps incorrectly) that you don’t want to build a “city within a city” anytime soon, we’re hoping that you’re ready to kick off your home building experience. If so, please give the Australian Heritage Homes team a shout. We’re so excited to hear from you and bring your vision of your dream home to life.