Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 1494

Earlier today it was announced that Keith Rabois –a venture capitalist with Khosla Ventures and the former COO of Square –is working on a startup that hopes to make selling your home as easy as a few clicks . The codename for the project is Homerun.

“For most people, homes are their biggest asset and it’s completely illiquid,” Rabois said. “This is a really expensive transaction for many people. What we’re going to provide is instant certainty, liquidity and convenience for normal people to sell their homes.”

Rabois hasn’t shared many details, other than a pretty basic flow:

“I’m not going to describe the exact flow, but the general point is you’ll tell us what your address is and confirm your identity, then we’ll allow you to sell your home,” he said. “Obviously there’s a variety of ways you could verify your identity that we didn’t have in 2003, when I originally thought of this idea. Like Facebook Connect.”

This, of course, isn’t a new idea. Many companies have tried to improve the process of buying and selling homes by going online. But it’s a space that hasn’t seen a lot of innovation. I’m particularly interested because I work in real estate and it’s always struck me as a lumbering archaic industry.

So when a name like Keith Rabois announces that they’re working on solving a problem in this space, I get excited about what might come about.

I was recently asked by a Canadian architecture website called sixty7 Architecture Road to respond to the following:  Can the creation of urban destinations transform or hinder a city’s development? It was for a regular Q+A series they do on their website. Here is my response (I was specifically asked about Dundas Square ):

The best line I’ve ever heard about public spaces and urban destinations was from Bruce Kuwabara of KPMB Architects . He said that the outside of buildings need to be thought of as the inside walls of the public realm. And I think that’s a really great way of framing this discussion. We often think of buildings inwardly and as self contained objects, but by virtue of their existence we’re creating and framing many other spaces.

With that in mind, I absolutely believe that beautiful and well designed urban destinations–whether public or private–can transform a city and its development patterns. A perfect, but perhaps overused, example of this is the High Line in New York. Not only has it become a destination (“Have you been to the High Line yet?”), it has become an unbelievable city building catalyst. All of a sudden development is happening in, on and around the High Line, where as before developers would have tried to completely ignore it. And so today, the High Line, as an urban destination, is almost being continually reinvented by new development.

To talk specifically about Toronto, I think that downtown needed a “public” space like Dundas Square. The design could have been less unidirectional (towards the Eaton Centre) and the building to the north is repulsive, but it provided a forum along Toronto’s main street in the heart of downtown. I also believe that good urban destinations give areas a sense of identity, which is why I’m somewhat bothered by the loss of the square at Yonge & Eglinton. Sure it was bad, but we could have made it better. It is the heart of midtown in my mind.

So not only do urban destinations have the ability to transform, I would argue that they are essential to any great global city. Whether it’s the High Line in New York, the Spanish Steps in Rome, the old Love Park in Philadelphia, or Trafalgar Square in London, these spaces are integral to those city’s brands and identities. What do ours say about Toronto?

For the full Q+A, click here .

Recent US Census Bureau data has once again confirmed that there’s a growing preference for living in urban cores. More specifically :

It finds that population growth has been shifting to the core counties of the USA’s 381 metro areas, especially since the economic recovery began gaining steam in 2010. Basically, the USA’s urban core is getting denser, while far-flung suburbs watch their growth dwindle.

To put numbers to these statements , core counties in the US grew approximately 2.7% and outlying counties grew approximately 1.9% from 2010-2013. Most of the growth came from net migration, as opposed to higher birth rates.

The two big factors at play–which will be obvious to readers of this blog–appear to be both a desire to live in amenity rich and walkable communities and a continuing trend towards marrying and having kids later in life, which can often be the trigger for moving to the suburbs.

But the big question is whether or not this trend is here to stay or if it’s an ephemeral fad caused by a bunch of over-educated and under-employed Millennials refusing to grow up. I would argue that it’s not a fad.

If there’s a clear consumer preference for urban neighborhoods, then I don’t think people are just going to pick up and leave overnight. As long as there’s adequate housing within the means of growing families, I think they’re going to stay in or go to the areas in which they truly want to live.

There are also many other macroeconomic trends reinforcing this shift. Just yesterday, Richard Florida wrote an article in Atlantic Cities talking about how venture capital investment is shifting away from the suburbs, towards city centers and walkable communities. These companies (receiving investment) are the next generation of employers and they’re starting in core areas.

I’ll take that as a leading indicator.