I live in Indianapolis, where sprawl rules, seemingly unencumbered by a vast expanse of cheap land in every direction.
In recent years, a few suburban greenfields and one large, old urban neighborhood have been transformed through traditional neighborhood development.
The urban renewal neighborhood was made affordable largely through government grants, but the remaining TNDs have been left to the market...especially the upper end of the market ($300K and up).
Fortunately, a few more typical suburban tract housing and townhome builders have bought into new urbanist ideas and started their own quasi-new urban neighborhoods, sans commercial real estate. Indeed, one of them is building my new home (on what was a cornfield)...complete with an alley garage. Final price with options: around $120K.
Why have traditional neighborhood developers so overtly shunned more affordable builders? Or is it the affordable builders who have shunned the high land costs in most TNDs? Is there a solution to this, or will only the people with BMWs have the option to walk to the grocery store?