The 10 most productive metropolitan areas contribute to about 40 percent of U.S. gross domestic product according research by Bloomberg. Four in five Americans live, work and play within just 3.6 percent of the 1.9 billion acres of land in the 48 contiguous states.
The land in and near the major metropolitan cities are indeed the land of opportunity. Those seeking to create wealth will live in and near these powerhouse urban areas. Greenwich serves New York, White Plains and Stamford and stands to benefit from urban growth over the years, if it’s ready and willing.
The United State of America is the largest economy in the world and it’s growing. So, too, are her needs for urban land use. The authors Dave Merrill and Lauren Leatherby reported that the United States is adding approximately 1 million additional acres of urban use per year or the equivalent of Los Angeles, Houston and Phoenix combined.
The growing demand for productive urban areas to generate wealth for the nation is a powerful force. So too will be the rise in demand as Millennials form families.
Greenwich is already home to $4.5 billion of commercial land use, a full 14% of the total Grand List, according to the Greenwich Town Assessor. Look for demand for apartments, in town residences and renovated single family homes to rise.