A new term has been coined and trademarked by John Burns Real Estate Consulting, a company that provides research and consulting services relating to the housing market. The term is “surban”, and it is defined as “a suburban area that has the feel of urban, with walkability to great retail from a house or apartment.”
Even though the company trademarked the term, its website indicates everyone has permission to use the word without the trademark. The company just wanted credit for coining the phrase. I don’t see any examples in South Carolina from a list compiled by the company, not any in the South, for that matter.
Millennials are apparently the impetus for the new term as they look for a compromise between city living and suburban space. They typically enjoy the choices of the city: restaurants, bars, shops music, ball games and movies. But when they start pairing up and having children, they, like their predecessors, began seeking more room and lower housing costs. Not only are millennials raising families, they are often saddled with student loan debt and unable to afford the costs of city living. But they don’t want the strip malls and chain restaurants of the suburbs.
The compromise? A blended type of neighborhood that combines the energy and walkability of the city with the space and affordability of the suburbs. Millennials want pubs, microbreweries and nice restaurants. They want retail shopping, but not the big box variety. They prefer boutiques with unique choices.
Examples of surban areas, according to John Burns Real Estate Consulting, include:
- Reston Town Center in Washington, DC, suburb of Reston, Virginia
- Downtown Naperville, Illinois, in the suburbs of Chicago
- Old Town Pasadena, California, in the suburbs of Los Angeles
- A-Town in Anaheim, California, in a neighborhood around the Angels Major League Baseball park
- Legacy Town Center in Plano, Texas, in the suburbs of Dallas
- Santana Row in San Jose, California
- City Centre in Houston, Texas
- Downtown Tempe, Arizona, in the suburbs of Phoenix
- Larkspur, California, north of San Francisco
- Geneva, Illinois, in the suburbs of Chicago
Maybe there are examples in Atlanta, Charlotte, or even Charleston, Greenville or Columbia. Let me know if you know of any!