Well, in 2 previous "layouts" (more like modules) I have used Durham water putty (in styrene forms, kinda like real concrete pouring) w/ some grey water-based paint to give a 'concrete' look (wasn't my best effort, but if the idea is that you then paint the grey colored sidewalk whatever concrete color, and if it chips or scratches then it looks less conspicous than the bright white that chip would otherwise be) - then I used styrene air-brushed concrete color (I kinda used Floquil Concrete & Age Concrete mixed, then a lite overcoat of thinned black - many different concrete formulas out there, keep your finished layout lighting in mind as what looks good under, say regular flourescents may look sickly under incandescent and vice-versa).
You can build 'bases' for your buildings, say using .04 styrene sheet under the building footprint, surrounded by .06 styrene sidewalk strip, so that the building sits higher than the road, but is still 'embedded' in the sidewalk. You can account for driveways and alleys by having no base at that point, run the road right against the building - lots of ways to work and experiment w/ this for reaslistic effects. Foam core as works as a base, not too convinced that thin wood sheet is a good idea.