Market Buzzing About Electric Vehicle Infrastructre

With news that Volkswagen has earmarked $2 billion for electric vehicle (EV) charging infrastructure, we have to ponder the future of the EV marketplace. According to Costar, there are now more than 30 EV production models in circulation, with perhaps the most notable being the Tesla Model 3 consumer EV. As electric vehicles become more commonplace, the infrastructure needs of the EV world will become far less of an amenity and more of a requirement.

What does this mean for commercial real estate? First, owners, users, developers, and designers will have to acknowledge the transportation paradigm shift. Once this has been acknowledged and the value realized, owners and users will need to underwrite the necessary improvements, while developers and designers will need to ensure that all new inventory meets the transportation needs of the populace. Let’s also not forget the larger electrical infrastructure demands of a predominantly EV marketplace; although not a short term concern, we must design today for tomorrow’s needs. Electric vehicles can and will change the face of our world, mostly for the better, but we have to plan and prepare or the EV rocket will crash back down to Earth.

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