Bringing the Urban to the Suburbs

NEW YORK CITY- Donald Monti, president and CEO of Renaissance Downtowns, probably put it best during the Alternative Investment Summit‘s ”The Next Wave of Urban Investment in Suburbia” on Wednesday afternoon in Midtown: future suburban development should be defined as “urban nodes in suburbia.” The event, which explored different ways for hedge fund managers and investors to allocate their funds, showcased new urban renewal projects, like Renaissance’s work in Hempstead, NY.

The company transformed the onetime “cultural mecca of Long Island” to a new glory using greatfields space. Essentially, a parking lot was transformed to a community encompassing living space And as the US population ages, realizes that public transportation and being close to it all are cost-effective and pleasant ways to live, it seems that these “nodes” will crop up with increasing frequency. At least, that’s the hope.