The Future of Cities

more new cities have been created over the past several decades than most of us may realize, including several in the United States. And over the past decade, three macro trends have led to renewed interest from many in the creation of new urban areas.

• One, remote work has untethered more knowledge workers from existing cities, lowering the economic cost of “trying out” a new place.

• Two, the flaws of existing cities—often some combination of housing shortages, decaying transit, homelessness, and crime—have gained prominence and attention, driving some respected entrepreneurs and investors to propose the creation of new cities.

• Three, the rise of “placemaking” as an attractive real estate investment thesis—think DUMBO or Reston Town Center—offers a stepping-stone for ambitious real estate investors.

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