Archive for October, 2017

4 Impacts of Autonomous Vehicles on Real Estate

Four impacts on real estate we can expect with the arrival of autonomous vehicles (“AV”):

  1. The cost of construction will be substantially reduced (20%-25% by some estimates) if structural parking is eliminated — greatly improving feasibility.
  1. Because AV can travel faster and closer together, and substantially reduce the need for street parking, the vehicle, bicycle and pedestrian carrying capacity of existing streets will increase.
  1. AV will change public transportation, causing rendering light rail systems less useful as buses become more efficient and popular, especially during peak demands.
  1. Longer commute times will be acceptable because AV riders can work, compute, talk on the phone, text and nap — allowing households to access less expensive housing in the outer reaches of metropolitan areas.

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