Living in: Cities of the future
This phase of the development is currently sold out, with most buyers attracted by the fact that the eco-friendly, walkable area that already feels like a true community. About 30% of buyers are from other areas of Canada seeking a milder climate, and roughly 20% are first-time buyers who work in the area. “The rest are young families and couples, retirees and investors,” said Lorraine Wilson, a media relations consultant for Vancity, the credit union developing the area. Almost 90% of housing stock is one- and two-bedroom residences with an average cost of 500 Canadian dollars per square foot, and a two-bedroom flat rents for 2,000 Canadian dollars a month.
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Nearly 10 years after the creation of Poundbury, a Dorset county town built to high-density, mixed-use principles similar to New Urbanism, Prince Charles and the Prince’s Foundation for Building Community also became involved in the master planning of Sherford, a new market town in Devon that was approved in 2007 but stalled until May 2013, when the UK government announced a £32 million loan to kick-start the construction. Located on the outskirts of Plymouth, Sherford will have typical Georgian-style architecture, but very high-tech, energy efficient buildings, four schools, a health centre, a sports centre, a church, a town hall and a library, plus wildlife corridors to replace the land and hedgerows that are being removed. A 500-acre park will contain two wind turbines that will power the town. When completed, the town will have 5,500 homes and house 12,000 residents, plus 83,000sqm of retail and office space. A completion date for the project has not yet been set.
Sherford will provide affordable and market rate flats and houses, along with social housing. House prices in and near Plymouth have remained relatively steady the past year. Currently the average house price in Plymouth is £158,000 and the average price of a flat is £117,000.
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Correction: A previous version of this article incorrectly stated the name of the Global Climate Fund. This has been fixed.