Transit Sites Seen as Downturn Opportunities

WASHINGTON, DC-Gone are the days, at least for now, when developers would race each other to the next speculative suburb in the middle of nowhere to build a mixed-use center. In-fill projects near mass-transit centers are currently the hot ticket, now that gas prices have are on a seemingly unending climb, said experts here on a recent panel.

The event was the Transwestern/Real Estate Forum Twelfth Institutional Investor Symposium. Steve Pumper, Transwestern’s executive managing director of investment services, and Michael Desiato, Real Estate Media’s group publisher, moderated the panel. Real Estate Forum is published by Real Estate Media, which also publishes GlobeSt.com.

“It makes a lot of sense to be close to the metro,” said Michael Zammitti, managing director of Hartford-based Cornerstone Advisors, pointing out that more and more people will try to live or work around such developments in order to drive less.