What Makes A 24-Hour City?15 May 2018
NEW YORK CITY—This month, I had the pleasure of sitting down with Hugh Kelly, principal of Real Estate Economics and director of Fordham University’s Real Estate Master’s program, to discuss his new book, 24-Hour Cities. As stated in the title, he takes an analytical approach to determine “real investment performance, not just promises” in these cities. His criteria includes patterns of electricity consumption, population density, volume of vehicular traffic between 9am and 5pm, the share of commuters who use public transportation, the number of 24-hour pharmacies within 10 miles of the city center, the restaurant ratings, and more. He concludes that 24-hour cities are not only statistically different than sprawling 9-5 cities, but they also have statistically superior economic returns.