Driverless cars bring visions of building boom, suburban sprawl

(Bloomberg) – It’s 2027 (or 2037) and the age of the self-driving car. City-dwellers have traded in their car keys for ride hails. Street parking has been replaced by wider sidewalks and bike lanes, while developers are busy converting garages into much-needed housing. That’s one vision of how self-driving cars will affect U.S. real estate, laid out in a report by MIT’s Center for Real Estate. But it’s not the only one. Even as reclaimed parking spaces fuel a downtown building boom, autonomous vehicles will encourage builders to push deeper into the exurban fringe, confident that homebuyers will tolerate longer…

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