Emerging Trends in Real Estate, put out by the Urban Land Institute (ULI) and PwC, offers a projection of what is likely to trend in real estate investment and development, finance and capital markets related to real estate, city life, various sectors of property and other real estate related topics in the US as well as in Canada. This helpful publication is jam packed with noteworthy insights about a variety of topics from minor changes in parking trends all the way to the larger impact of things like climate–all of which effects real estate.
Something that stood out to Raza Properties, as we work to stay on the cutting edge of development and wants and needs of the residents of Philadelphia, was a section in Emerging Trends devote to urban agriculture!
You heard us right, growing vegetables in the city. What’s the demand and how can we meet it?–especially given obvious limitations on green space.
Philly is a city of foodies! It’s also a place where there’s an abundance of people and restaurants who desire to eat clean, cook fresh, create with their hands, and know where their food comes from! So our ears were perked.
Where is this happening you ask? According to Emerging Trends in Real Estate–
“New York City is home to one operation that produces more than 300 tons of vegetables in three hydroponic operations in Brooklyn and Queens. In Chicago, a local business has grown its output to about a million pounds of salad greens and herbs, and contracts with four dozen upscale supermarkets. Detroit’s community and commercial farming operations brought 400,000 pounds of food to market in 2014.”
In fact even more surprising and impressive to us was the report that the, “Ironbound neighborhood of Newark, a 69,000-square-foot former steel factory is being converted into the world’s largest indoor vertical farm.”
So is Raza Properties building a silo in Sharswood? Likely not, but we are aware that fresh produce, gardening, and allowing people to live full, healthy lives in the city is a priority. So we are working on ways to integrate green space and garden potential into our future work. This includes our residences that often have access to rooftop space or small yards. As well as proposed commercial spots where we hope to bring local eateries (potentially serving fresh veggies and herbs) to area neighborhoods in need of good food and eclectic gather space. We will keep you posted or better yet you’ll come see for yourself!
This section of Emerging Trends was highlighting not only the fact that urban gardening is trending (which is fantastic), but maybe even more significant—is the new vision that has urban land as that most precious and flexible of resources.
Happy Gardening Philadelphia! We’ll provide the land you bring the shovel.