Calendar's "Travel Time" (Walking/Bus) with "Alert: Time to Leave"

When I have an appointment in Calendar, and set the "travel time" to either of the "walking" or "omnibus mover" options, will it dynamically re-calculate the travel time and show an alert based on where I'm then-currently located or based on where I enter the appointment?

I'm planning my day and having to plan for being situated at home between each appointment—while possible—is not optimal.

I would like for my first appointment at the library to run as long as it can before being alerted that the travel time by walking to my next appointment, at friends' address, is reached; similarly, I'd like to be alerted that same way when it's time to walk to home and make my later appointment at home (for an Internet-mediated telecommunication event).

Note that I'm starting at home and traveling via "omnibus mover" to the library, first. As I'm starting and ending at home, I'd appreciate the route-planning faculty to consider my changing spatiotemporal location instead of having to coördinate scheduling for each segment of my journey.