According to Daniel Brenna, a founder and principal with CapitalReal Estate Group, there are a number of macro forces that indicatedense development is the way of the future. He cited a BrookingsInstitute study which found that the US is experiencing perhaps itsmost significant demographic, economic and social changes since theturn of the 20th century. These changes include an aging andgrowing population, increased urbanization, climate change andrising fuel costs. The country is on track to add 100 millioncitizens by 2035, which is likely to create a building boom.

[IMGCAP(2)]"Half the stores and homes and buildings we'll needfor all these people haven't been built yet," said Brenna. It isestimated that the country will need about 60-million new housingunits by 2030. And due to the rising costs of fuel andenvironmental concerns, it's likely that people will increasinglylook for that housing to be located near transit hubs. Already,transit ridership has begun to spike and demand has risen forcompact housing near train stations.

These forces are creating an ideal opportunity for the state topursue dense, mixed-use developments similar to the town squaresthat were built before post-war suburbanization. This type ofdevelopment "creates vibrant spaces, saves open space, generatesinvestment demand and supports an alternative transportationinfrastructure," according to Peter Kasabach, executive director ofNew Jersey Future. Towns that have already begun to pursue thistype of growth are reaping the benefits. Joel Schwartz, a principalwith Landmark Cos. LLC, described his company's redevelopment ofparts of downtown Metuchen and Rahway, which created walkablecommunities with a mix of retail and residential. James Maley, anattorney and the mayor of Collingswood, gave an overview of therevitalization of his town, which struggled after the 1960's.