That company plans to serve as the developer and property manager for the series of limited liability companies that make up an individual project, which in turn will be funded by individual investors and bank debt. Culdesac Tempe, for instance, is being codeveloped with Sunbelt Holdings, a local developer, and Encore Capital Management, a real estate investment firm, which raised most of the equity for the $170 million project’s construction. The Salt River at sunset. “It’s a bunch of people who are willing to pick up whatever they had in their life and move to try this thing,” Daniel Moreh, a software engineer, said of Culdesac.Credit...Adriana Zehbrauskas for The New York Times We are living in a moment of extreme disruption. (And that’s a sentence I’m typing before the outcome of the presidential election is known.) People are changing how they live, where they work, how they get there or if they get there at all. The process of getting back to normal is likely to be more disruptive still. Billions of people will create new habits, and no matter what happens, many of them will stick. For whatever reason, changing addresses seems to open people to further change. In studies of military families , one of the few groups of people who are shifted around at random, researchers have found that marriage and children are often associated with long-distance moves. “There is something about being told that you are going to be moving across the country that forces you to re-evaluate other big decisions in your life,” said Abigail Wozniak, an economist at the Federal Reserve Bank of Minneapolis who studies migration. This “discontinuity hypothesis” seems to apply to environmental habits as well. A study in Copenhagen found that when drivers were nudged to take public transit, the nudge worked best with people who had recently changed addresses .https://www.nytimes.com/2020/10/31/business/culdesac-tempe-phoenix-sprawl.html
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