Walk Score
Walk Score is a measurement system introduced in 2007 by Front Seat, a Seattle-based company founded by Matt Lerner, Mike Mathieu, and Jesse Kocher. It quantifies the walkability of any address by evaluating the proximity to amenities like shops, schools, parks, and public transit. The score ranges from 0 to 100, where a higher score indicates that daily necessities can be met without a car. The system was developed to encourage urban areas to prioritize walkability in their planning and development strategies.
Putting ‘Walk Score’ in Context
Imagine “Brickell Central Hub,” a fictional mixed-use development strategically positioned in the vibrant Brickell neighborhood of downtown Miami. This development encompasses an entire city block, featuring 250,000 square feet of space divided among luxury apartments, high-end retail shops, and state-of-the-art office facilities.
- Public Transport: Just a stone’s throw from a Metromover station and multiple bus routes, enabling easy and car-free access to all of Miami.
- Shopping and Dining: The complex houses a variety of luxury retail and fine dining options, with the surrounding area bustling with additional shopping and eating venues.
- Parks and Recreation: Within walking distance is a large, picturesque waterfront park, perfect for leisure and outdoor activities.
- Education and Culture: Close proximity to a renowned art museum and an educational institution, both accessible within a few minutes’ walk.
With a Walk Score of 98, Brickell Central Hub ranks as a “Walker’s Paradise,” where daily necessities do not require a car. This appealing score is a significant advantage in marketing the development, attracting tenants and residents who value convenience and urban living. It also supports a premium on lease rates and enhances the overall property value due to its prime location.
This example highlights the importance of a high Walk Score in adding value and attractiveness to properties in densely populated urban settings.
Click here to get this CRE Glossary in an eBook (PDF) format.