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Culdesac to Develop Car Free Neighborhood in Tempe in Arizona

Infra News - Published on Wed, 11 Dec 2019

Image Source: Culdesac Car Free Neighborhood
Real estate developer Culdesac announced the company and its plans to build the US’s first car-free neighbourhood from scratch in Tempe in Arizona. Residents will not have private cars or parking, although the neighbourhood will accommodate parking for visitors and car-based modes of transportation, such as ridesharing. Culdesac is the first developer to intentionally build a 1,000 person neighborhood-scale, car-free development from scratch. Culdesac believes that real estate innovation has failed to keep up with fast-paced changes in mobility. Transportation has evolved beyond car dependency, real estate has not. Culdesac is changing this paradigm and announced detailed plans for its first neighborhood, a USD 140 million project called Culdesac Tempe. The company also announced it has raised USD 10 million in venture capital funding to invest into its corporate operations led by Khosla Ventures, as well as Initialized Capital, Zigg Capital, Bessemer Venture Partners, and Y Combinator.

The Tempe project marks the nation’s first and only agreement between a city and a developer to build a neighborhood-scale community with zero residential parking. The plans for Culdesac Tempe show a walkable neighborhood directly on a light rail station and near a dense job center in downtown Tempe. In typical developments the parking lots often dictate the design and without this constraint, Culdesac Tempe is able to offer three times the average amount of green space, along with friendly courtyards and community spaces.

Because less land is needed to park vehicles, Culdesac Tempe will include a grocery store, coffee shop, coworking space, market hall, and other retail, in addition to rental apartments for 1,000 residents. To help bring this vision to life, the Culdesac team is working closely with renowned architect Dan Parolek, who popularized the term Missing Middle Housing, a concept for diverse housing options to create sustainable and walkable places.

The Tempe site was chosen for the first car-free neighborhood due to the city’s thriving job market, growing population, and land available directly on a light rail station. Additionally, local leadership has a reputation for being innovative, forward-thinking, and action-oriented. Culdesac is evaluating locations for additional projects, including in cities such as Dallas, Denver, and Raleigh-Durham.

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Posted By : Yogender Pancholi on Wed, 11 Dec 2019
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