DC real estate developers building ‘micro-ecosystems’

Traffic in the D.C. region makes it uniquely difficult to get anywhere quickly. Real estate developers are reacting by building mico-ecosystems in urban and sub...

Traffic in the D.C. region makes it uniquely difficult to get anywhere quickly. Real estate developers are reacting by building “mico-ecosystems” in urban and suburban areas.

Richard Samit, CEO and founder of Fraser Forbes Real Estate Services, sat down with What’s Working in Washington to explain why the D.C. region is experiencing more urbanization than many would expect.

“We start with supply and demand metrics, and then we look to support ground-up development where there’s unity from a live-work-play dynamic,” said Samit.

In order to solve traffic and infrastructure issues, Samit said, Fraser Forbes is looking to create pocket “micro-ecosystems” of urban space in the more rural and suburban outskirts of the region.

“You can work, you can live, you can play, and the same requirement to get in your car and drive doesn’t exist as much,” said Samit.

The solution is twofold: many people don’t have to drive as far to reach their work and amenities, and those that do experience less traffic and congestion. This would be a welcome change for an area whose commuting time is “expanding exponentially every year,” Samit said.

The current infrastructure “failed to meet the needs of the thousands of new homes, and millions of square feet of new commercial buildings,” he said. As a result, both the road and metro system have become “overtaxed and overburdened.”

Samit said that he hopes plans like this will help expose how important the real estate and development communities are to areas like D.C.

“It’s not about pro-development, it’s not about anti-development, it’s about long term balance, so you have the best prospect for long term success… let’s look at having the highest quality of life quotient we can obtain,” said Samit.

Listen to entire July 31 show:

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