The End of Suburbia As We Know It

Young people shunning the suburbs in favor of the hustle and bustle of city life are leading the charge in the “reurbanization of America,” real estate mogul Sam Zell told CNBC on Tuesday.

“You’re drawing all the young people in America to these 24/7 cities. The last thing they want to do is live in the suburbs,” Zell said in a “Squawk Box” interview. “In that respect, you’re increasing demand for housing in the urban markets.”

The demand for the suburban lifestyle had been driven mainly by safety and schools, he said. “If you wanted to see the end of suburbia, all you’d need to do is make the school systems in the cities triple-A and why would anybody live in the suburbs,” Zell said.

One of the byproducts of people moving to cities is soaring demand for apartments. “We are seeing 96 percent occupancy,” said Zell—who’s chairman of the real estate investment trust Equity Residential, one of the largest apartment groups in the country. Of the 18,000 units the REIT manages in New York City, Zell estimated 45 percent are occupied by just one person.

“It’s probably going to happen here in New York first,” he said. “You’re going to see 300-square-foot apartments, directly related to that one person wanting to live alone—and saying, ‘I’ll give up space for privacy.'”

– CNBC

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New Playa Vista Neighborhoods

The Playa Vista Community will be introducing 6 new neighborhoods in the not so distant future. Each one is unique and will fit the needs of specific buyers. You can find the preliminary information for each of the new neighborhoods below:

 

Camden

Brookfield Residential
Beachy Brownstone Flats
Single-Story Attached Residences
Approx. 1,601 – 2,192 Sq. Ft.
3 – 4 Bedrooms | 2 – 3 ½ Baths | 2-Car Private Garage
Starting From the Low $900,000s

View Floorplans » 

Camden-6A

Skylar
KB Home
Coastal Contemporary Flats
Single-Story Attached Residences
Approx. 1,905 – 2,449 Sq. Ft.
3 – 4 Bedrooms | 2 ½ – 3 ½ Baths | 2-Car Private Garage
Starting From the $1,000,000s
View Floorplans » 

Skylar

 

Woodson

TRI Pointe Homes
Warm Family Homes
3-Story Detached Residences
Approx. 2,080 – 2,329 Sq. Ft.
3 – 5 Bedrooms| 3 ½ – 4 Baths | 2-Car Private Garage and 1 Guest Space
Starting From the Low $1,000,000s
View Floorplans » 

Woodson-Street_B
Asher

KB Home
Modern Family Homes
3-Story Detached Residences
Approx. 2,435 – 2,757 Sq. Ft.
2 + Rec. Room – 5 Bedrooms | 2 Full + 2 ½ – 4 Full + 2 ½  Baths | 2-Car Private Garage and 1 Guest Space
Starting From the $1,000,000s
View Floorplans » 

Asher-Street
Trevion

Brookfield Residential
Luxury Family Homes
2- and 3-Story Detached Residences
Approx. 3,020 – 3,949 Sq. Ft.
4 – 5 Bedrooms | 4 ½ – 5 ½ Baths | 2-Car Private Garage and 1 Guest Space
Starting From the Mid to High $1,000,000s
View Floorplans » 

Trevion-1AX
Fountainview at Gonda Westside

Los Angeles Jewish Home
Stylish Senior Living
Independent-Living Residences
Approx. 840 – 2,300 Sq. Ft.
1 – 2 Bedrooms plus Den | 1 – 2 ½ Baths | Subterranean Valet Parking
Starting From the Mid $500,000s
View Floorplans » 

Fountainview