...but it is not for the reason David K or Bob Bowling have laid out.
Bob Bowling is just being a smart business guy, and smart business is all about dealing with the cards you are dealt with.
What we call "smart growth" was just called growth before the Interstate Highway Act.
Now, connecting cities is important. I would not argue with that. But how the Interstate Highway Act was implemented was never part of President Eisenhower's vision. Instead of connecting cities, the Interstate Highway Act nearly destroyed them.
Now, David K will argue that the idea of IHA predates even Eisenhower. Just as a one Mr. Bertram Tallamy of the Federal Highway Adminstration remarked to President Eisenhower on April 6, 1960. But Eisenhower bascially told Tallamy, "Bitch, that may have been the case, but I was the one who got this sheeeeeeit done. So go make me a sandwich".
Don't believe me?
Well, certainly you can believe the Eisenhower Presidential Library: Meeting of April 6, 1960 regarding the interstate highway program, April 8, 1960.
There lies the reason why smart growth "doesn't work". It is fighting a poorly implemented federal project that has been around for decades. The market did not create this. Government did. There is no reason why we should dismiss the idea that local governments, which are in general more in tune with the needs of their respective communities, know what is better for them than a distant Washington bureaucrat or agency.