Knowledge Finder
Small Vehicles, Big Impact
Micromobility's Value for Cities and Real Estate
Micromobility and Real Estate
February 22, 2021
Small Vehicles, Big Impact: Micromobility’s Value for Cities and Real Estate demonstrates the value of micromobility to the real estate industry, shows the growing case for real estate professionals to support micromobility (such as through providing onsite charging infrastructure), and helps city officials understand the real estate perspective on micromobility as they continue to regulate this rapidly evolving market.
Although only one component of a transportation network, micromobility has the potential for an outsized impact on mobility, equity, and sustainability. Unlocking these benefits requires working across sectors to not only provide vehicles but also create a supportive environment with reliable charging stations and safe infrastructure.
When the real estate industry and public sector are aligned, they can together promote micromobility usage, work toward a healthier transportation ecosystem, and ultimately shape more livable cities.
A micromobility system overlaid on an area with no traditional transit can provide a similar real estate bump to a traditional transit-oriented development. You can use this as an economic development strategy to attract investment and improve community equity.
Dylan Jones
Architect, Gensler Mobility Lab
This report provides a high-level overview of the real estate perspective on micromobility, including the following key takeaways:
- Supportive infrastructure. Developers and property owners are primarily supporting micromobility by hosting on-site scooter charging stations and converting parking spots to scooter and e-bike dropoff zones.
- Value creation. Real estate professionals increasingly recognize the value that micromobility can bring to their properties.
- Project benefits. Benefits for developers and building owners of providing micromobility infrastructure include project marketing opportunities, expanded multimodal property access, and the potential financial benefits of reduced parking requirements.
- Concern mitigation. Most concerns about scooters and e-bikes can be easily mitigated at both the real estate and city levels.
- Equity and Sustainability Benefits. By providing micromobility infrastructure, real estate professionals can advance city sustainability and equity goals— especially when associated public policies create a supportive development environment.
This report was developed with support from the Bloomberg Philanthropies American Cities Climate Challenge. The Climate Challenge is an initiative that empowers 25 of the largest U.S. cities to implement near-term climate goals and become primary drivers of progress towards meeting America’s pledge on climate. Recognizing that cities account for more than 70% of global carbon emissions – and that mayors have significant authority over cities’ highest emitting sectors: transportation and buildings – the Climate Challenge aims to enhance the work already being done by mayors across the U.S. and to support cities in the fight against climate change.”