24-hour Cities : Real Investment Performance, Not Just Promises

Winner of the Gold Award in the Tenth Annual Robert Bruss Real Estate Book Competition

24 Hour Cities is the very first full length book about America’s cities that never sleep. Over the last fifty years, the nation’s top live-work-play cities have proven themselves more than just vibrant urban environments for the elite. They are attracting a cross-section of the population from across the U.S. and are preferred destinations for immigrants of all income strata. This is creating a virtuous circle wherein economic growth enhances property values, stronger real estate markets sustain more reliable tax bases, and solid municipal revenues pay for better services that further attract businesses and talented individuals.

Yet, just a generation ago, cities like New York, Boston, Washington, San Francisco, and Miami were broke (financially and physically), scarred by violence, and prime examples of urban dysfunction. How did the turnaround happen? And why are other cities still stuck with the hollow downtowns and sprawling suburbs that make for a 9-to-5 urban configuration? Hugh Kelly’s cross-disciplinary research identifies the ingredients of success, and the recipe that puts them together.

Hugh F. Kelly is a Clinical Professor of Real Estate at the NYU Schack Institute of Real Estate. He served as the 2014 Chair of the Board for the Counselors of Real Estate organization, and heads his own consultancy practice. He frequently speaks at international academic and industry conferences.