City or Suburbs? Part IV

Yikes, how much more of this can I have? Surprisingly more than you'd think! This time I'm going to talk about money- that is, how expensive the suburbs really are.

I mentioned earlier that your money will go a lot farther in the suburbs. Your money will buy a lot more house than in the city. However, there is SO much more to consider. For one, you need to think about how much more money is spent on gas when living in low density areas. Like I mentioned before, you have to drive virtually everywhere- and with today's gas prices, this puts a dent in your pocketbook very quickly.

Next let's talk about something most of us have never given a single thought to. Infrastructure. Have you ever thought about who paid to have those sewer lines extended all the way to 210th street? What about your phone line? Electricity? Extending infrastructure outside of the city is very expensive. Who do you think pays for this? You do of course, right through your taxes. And what about Fire Houses, and Police Stations, Emergency Medical Services? Low density suburbs require significantly more of these than in the compact city. Again- welcome to your taxes. One quote in my paper reads as follows "The lifetime cost of low-density suburban development is 40 to 400 percent greater than more compact development." Uh, yikes.

Then there's the jobs available with preservation projects. This really surprised me too, the economic gains of a rehabilitation project outweigh new single-family construction, new multi-family construction, new commercial and industrial construction and new highway construction. Per project, the financial gains for job creation, income generated, wealth and revenue from taxes are all greater for rehabilitation than the four other categories. That means there is more opportunity and income generated in Historic Preservation!!

When your city is financially healthy, you have a much better chance of being financially healthy as well. That's why preservation pays on so many levels. In addition to bringing in more jobs, preservation also brings in more tourists. When you visit a new city, does anyone take you to see the suburbs? No, you go the historic areas most likely. They're interesting, are nice to look at, and have a special ambiance lacking in generic places.

Alive and well historic areas also attracts small business. According to preservationist Carolyn Douthat, "The type of space available in historic buildings is especially suited to small businesses and retail shops. These buildings typically provide a diverse supply of office and retail space at prices which attract small and start-up businesses. In addition, high-end small businesses are attracted to identifiable historic districts because of the character of the neighborhood and the scale of spaces." This is very important because small businesses have generated over 65% of new jobs in the last two decades. That means more job opportunities for you!

I could go on, but I know this post is a little heady. Hopefully you get the point, preservation is good for business, good for jobs, and good for your pocketbook!