Thoughts on What Impacts I’On Real Estate Values
Location. I’On’s location should continue to improve relative to other new home communities due to:
(1) the lack of available close-in parcels in which to develop new home communities;
(2) current land use politics, which push new development toward the outer fringes; and
(3) current transportation politics, which attempt to solve the traffic problem by widening roads.Â
With regard to (2) and (3) above, Mt. Pleasant is caught in a vicious circle. During rush hour, some roads become congested. The conclusion reached is that our existing road system is inadequate, and the reaction is to widen streets and build new roads.
Unfortunately, the increased supply of roads induces greater use and numbers of cars. Congestion builds up again, requiring even more money and effort be spent on street widening, more lanes, more roads, more parking spaces, more police time spent on traffic enforcement, more political promises, more taxes, more open space consumed, and so on. The result is even more traffic congestion and the cycle repeats itself – a vicious circle.
Alternatives involve recognizing that automobiles are too heavily relied upon and alternate transportation systems are needed to help move people and goods. Furthermore, unnecessary transport is overburdening our road system because zoning regulations separate every day conveniences from work and residence.
Unfortunately, our elected leaders continue to try and solve the problem from the supply side with more and wider roads, which can only lead to worsening traffic congestion, particularly outside 526. The upside of this, however, is that I’On’s location relative to that of other new home communities will continue to improve, which has positive implications for property values.
Traditional Neighborhood Concept
If what you are selling is exclusivity and privacy, then every home built degrades the amenity. Conversely, if what you are selling is inclusiveness and neighborhood, then every home built enhances the amenity. The latter is the situation at I’On. The neighborhood is getting better as each home is built and the vision is fulfilled. This betterment will continue provided quality construction and effective neighborhood governance can be maintained. This will have the effect of broadening the neighborhood’s appeal even further.
New Neighborhood Competition. The current political climate makes it very difficult to get new neighborhoods approved, and virtually impossible to get traditional neighborhoods like I’On approved in Mt.
Filed under: I'On Group, I'On Village on October 17th, 2007















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